We are pleased to share this compensation report to provide guidance to our partner and associate candidates. We have gathered information with the help of our law firms clients and candidates and from our in-depth knowledge of the market. Please note that this report isn't all inclusive as we represent mostly Am Law 100 international firms and top local firms in Tokyo, Hong Kong, Mainland China and Singapore.
Premier law firms are offering increasingly competitive packages in order to attract and retain top legal talent throughout the Asia market. Hiring conditions across Asia are showing steady and noticable signs of improvement with new openings in litigation, dispute resolution, project finance, fund formation, capital markets and M&A.
Interestingly, the Hong Kong market for the last twelve months has been experiencing the continued tussle for HK qualified and US, UK and AUS qualified associates and a few American firms continue to pay their Hong Kong and UK and AUS qualified associates at New York-scale salaries starting at $160,000 for first years. However, it is important to note that not all of their competitors in Hong Kong have followed suit and some are waiting to see how these salary changes develop.
The Hong Kong and Beijing offices of US NLJ 350 firms also saw large increases in their lawyer headcounts this year. Beijing firms experienced an 15% gain and Hong Kong firms experienced a 12% gain.
William Wesley March 7th, 2016
Venue: Singapore (Hotel to be advised)
Date: 15 March 2016
Registration: 8.15am to 9.00am (Singapore Time)
Event: 9.00am to 5.00pm (Singapore Time)
Just as technology has reshaped how individuals communicate and how organizations do business, it also having a profound impact on the practice of law. Technological developments are affecting management strategies in corporate legal departments, and changing how legal services are delivered.
William Wesley January 19th, 2016
Posted In: Upcoming Events/CLE Courses
Notable Chambers Asia-Pacific Awards 2014
The 2014 Chambers Asia-Pacific Awards for this year recognize national and international firms for their outstanding achievements and impacts across the region, their extraordinary client service and progressive growth towards excellence.
It's no surprise that once again Clifford Chance was honored as Law Firm of the Year. They have led the way with outstanding achievement across the region and for their excellent quality service they remain the preeminent firm with regards to transactions, finance and cross-border work in the region. Most notably their finance practice has had some impressive deals and are regarded as the leader in Aviation Finance.
In Japan, once again Ken Siegel has led Morrison & Foerster to a win and was personally awarded for his Outstanding Contribution to the Legal Profession. In Tokyo the firm excels in transactional matters and Ken is regarded for his expertise in his practice and was involved in some of the most high profile deals in the market. Since 1997, he has distinguished himself in Japan for managing clients expectations and for "understanding how to conduct business in the region." The firm has a long history and is one of the largest in the country completing some high profile deals with Toshiba, Hitachi and Sumitomo. They have also expanded their field in contentious matters welcoming James Hough from their New York office.
William Wesley November 23rd, 2014
Posted In: Recent Posts
2013 is well positioned to be a very active year for the Asian legal market. We have received a number of new instructions from law firms in Japan, China and Singapore for partners and associates with experience in M&A, capital markets, project finance, arbitration, finance and other areas. We have also noticed an uptick in interviewing activity over late 2012 and this trend seems likely to continue as firms move ahead with lateral hires and other strategic initiatives.
William Wesley January 10th, 2013
Posted In: Recent Posts
The global economy faces a number of short and long-term challenges in Europe and elsewhere. That said, legal activity remains buoyant in Asia and there are many outstanding opportunities for partners considering a move as firms open new offices, replace departing partners or implement strategic hiring initiatives.
According to the Wall Street Journal, Asian related M&A activity for the first six months of 2012 was nearly the same as last year. There were record levels of M&A activity in South East Asia and among other things, natural resources deals compensated to some extent for softer activity elsewhere in Asia.
William Wesley December 18th, 2012