WongPartnership LLP is amongst the leading law firms in Singapore. As one of the Big 4 law firms, it is known for its Tier 1 work in Banking and Finance, Debt and Equity Capital Markets, M&A, Projects, and Restructuring. In this post, we'll delve into the salary band ranges, the work-life balance, and the nature of work at WongPartnership LLP.
Salary Bands
In our pursuit of providing transparency to aspiring lawyers and experienced professionals alike, we've compiled a snapshot of the salary structure at WongPartnership LLP. We note these numbers are sourced from online public forums, and thus, may at times be inaccurate and will require constant revision.
- Traineeship: Currently, trainees are paid $2,000 per month for a six-month period. However, there are impending changes in the pipeline with the traineeship period set to extend to one year and a proposed salary increase to supposedly $2,500 per month. It is important to note that, according to sources, the trainee pay has remained at $2,000 since around 2006 across the Big 4 Law Firms.
- Legal Executive: For a short period of 1-2 months, until lawyers get called to the Bar, the remuneration is said to stand at $3,500 per month.
- NQ (Newly Qualified): From the time you are called to the Bar until the start of the following year (approximately five months), the salary is said to be $6,800 per month. This would be slightly behind the reported salaries of the other Big 4 Law firms. This total compensation is also inclusive of a front-loaded bonus (see below).
- 1PQE: In the following year, the compensation is said to increase to $7,500 per month.
- Every year following: The salary then is said to experience a consistent rise of approximately $1,000 per month every subsequent year, in line with industry standards.
Front-Loaded Bonus
It is important to note that these salaries include front-loaded bonuses, i.e., a portion of the final year bonus is included in the monthly salaries.
As a consequence, if your final year bonus is, let's say $30,000, you may only receive $6,000 during bonus period as it is treated that you have already received the remaining bonus within your paid monthly salaries.
This is good in the sense that if you leave the law firm before the bonus period, you won't be deprived of a lump sum. The downside is that your actual base salary is 60-80% of the specified total compensation. Thus, in actuality, taking into account the hours worked and the opportunity cost put forward by lawyers, it is difficult to determine that this is a competitive salary compared to other industries.
Nature of Work
Compared to some other local law firms, WongPartnership LLP is known to foster a better work-life balance, particularly in its corporate departments. However, there are many variables such as the assigned team/partner and the nature of work/clients at hand which may drastically affect the intensity of work. Undeniably, the pace of work is fast and the hours may sometimes be long, especially in the litigation departments.
At WongPartnership LLP, you will be part of a team handling some of Singapore's most significant transactions. Working alongside some of the brightest partners and colleagues, you will navigate a fast-paced environment, presenting a steep but rewarding learning curve. Expectations can be high and the work challenging, yet the potential for professional growth and the chance to be part of groundbreaking legal work is a point to keep in mind.
Conclusion
WongPartnership LLP presents itself as one of the more desirable law firms in Singapore for fresh graduates and young lawyers alike. Competitive (yet arguably sufficient) salaries alongside the opportunity to work on high-profile cases places WongPartnership LLP as quite a desirable employer.
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