Large US law firms have dealt with one of the most common complaints made by lawyers with up to five years PQE – that they don’t get enough variety and are ‘pigeon-holed’ into working on IPOs or similar transactions around the clock by paying premium salaries in 2011.
In some instances both US and Magic Circle firms have told recruiters that they are willing to offer a broader variety of work – although they are still not making any promises. But the response from the US and Magic Circle firms have been slightly different, said Ricky Mui, manager of the legal division for Robert Walters Hong Kong, and has been based on what firms are prepared to offer.
Those in both Hong Kong and Singapore offer higher pay – usually equivalent to rates set in New York of about US$160,000 to US$170,000 for a first or second year associate. "Those big salary numbers do show up and they are healthy numbers. People in Singapore offices do demand a healthy salary, but it is also head hunters who publish those numbers and they aren't necessarily the numbers every lawyer gets," said Kelvin Tan, a director at Drew & Napier.For that salary, they expect associates to work on whatever they are given and do the hours required to get the job done, according to Mui.
Also from US firms, but mostly within the Magic Circle, there has been a more proactive attempt to offer a greater scope of work. “Some Magic Circle and US firms have said they’re trying to offer broader variety, but they can’t guarantee that,” says Mui.
Clients of Atticus Legal have told consultant Carmel Huber that they have instituted policies to limit the number of IPOs lawyers work on in a row, for example, or they have introduced work allocation partners to assist HR to make sure lawyers receive enough variety of work. Nonetheless, this has only gone some way to solving the problem – which is still answered with the offer of better remuneration in most cases.
For those who are feeling frustrated and stuck, Mui says many of the international firms can offer more variety compared with some of the larger firms. “More of the international firms, for example, the top 10 UK firms or specialist firms can guarantee a broader variety and that is a great sell,” adds Mui.