Is Law School a GOOD Choice

Buzz

John Hartley joins White & Case as a partner. Located in Hong Kong since 1990, Hartley is recognized as one of Hong Kong 's leading finance lawyers with extensive experience in complex cross-border transactions in the region. He recently advised SoftBank on the acquisition of Vodafone Group PLC's Japanese mobile phone unit, the largest leveraged buyout in Asia to date. Hartley was previously at Lovells.

Calvin Lai joins Freshfields Bruckhaus Deringer as partner in the firm's corporate practice group. He is based in Beijing. Lai specializes in capital market transactions and M&A work involving companies in financial services, TMT, and energy and mining sectors. Lai was previously with Sullivan & Cromwell.

DLA Piper represented Shanghai Media Group Broadband subsidiary, SMGBB, a media application and service provider, in a significant round of equity financing, uniting SMGBB with Intel Capital to facilitate the co-development of wireless broadband and mobile technology for high-definition TV programs.

Yuan Tai represented Shenzhen-based asset manager China Southern Fund Management in the launch of China 's first overseas stock fund under the Qualified Domestic Institutional Investor (QDII) scheme. QDII is part of Beijing 's effort to encourage capital outflow. China Southern Fund Management is the first Chinese FMC to secure QDII approval and launch a QDII fund product.

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Voice

Is Law School a GOOD Choice?

Graduating Chinese university students are now busy job hunting. Competition is brutal. The supply of graduates is greater than the market demand for fresh graduates. This imbalance puts downward pressure on salaries paid to fresh graduates.

The Education & Economic Research Institute of Peking University published a report titled, "2007 Employment Situation for College Graduates." Survey results show that 70% of 2007 graduates found jobs; the average starting salary for 2007 graduates was RMB 1,798 per month; the average salary in municipal and provincial capitals was RMB 2,074 per month.

ChinaHR recently released data showing the top 10 high-salary jobs for fresh graduates. Toping the list:Sales Representative (RMB 137k/year), Software Engineer RMB 123k/year) and Consultant (RMB 98k/year).

Starting salaries for fresh graduates in the four “golden service” industries (Banking, Law, Auditing and Consulting) come from BLACking.

Top international banks: RMB 8k – 25k per month (= RMB 100k – 300k/ year)
Top consulting firms: RMB 6k – 18k per month (= RMB 72k – 220k/year)
Four auditing firms: RMB 5.5k– 7k per month (= RMB 70k – 90k/year)

Compensation for fresh law graduates varies considerably depending on employer type. 2008 law graduates looking for positions in reputable PRC law firms are receiving offers of
RMB 4k – 8k per month (= RMB 50k – 100k/year). Many law graduates will start their legal careers with less respected domestic firms, and with lower salaries — less than RMB 3k per month.

Leading international law firms — US/UK firms — are offering respectable packages to top students. Compensation varies from RMB 8k – 20k per month (= RMB 100k – 240k/year).

The clients of top tier law firms conduct international business. These clients demand high professional standards of performance — for which they pay high legal fees. A key requirement for lawyers servicing these exacting clients is a good command of English.

Graduating law students want the training and good pay offered by top-tier international and domestic law firms. What do these firms want?

Excellent English skill — in writing and speaking
Good academic record; overseas educational experience highly favored
Strong analytical skills
Bright; self-motivated; willing to work hard

Note that English writing skill is valued more than English oral skill. All junior lawyers carry out research and draft documents. This is their daily task. New recruits are missing these essential lawyer skills. Fresh graduates that can demonstrate their skill at legal writing are highly regarded. They can more quickly produce legal output for their firms.

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Fun

The oldest profession

A doctor, an engineer and a lawyer were discussing who among them belonged to the oldest profession.

The doctor said, "Remember, on the 6th day, God took a rib from Adam and fashioned Eve. He was the first surgeon. Therefore, medicine is the oldest profession."

The engineer replied, "But, before that, God created the heavens and earth from chaos and confusion. Thus, he was the first engineer. Therefore, engineering is an older profession than medicine."

Then, the lawyer spoke up. "Yes," he said, "But who do you think created all of the chaos and confusion?"

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Vacancies

LawInn team is constantly working to bring you the best choice of legal opportunities in China. Here's just a small selection of the positions we are currently handling:

Legal Counsel – Beijing – Ref: LPC07401
One of the world's largest manufacturers of heavy trucks is looking for Legal Counsel, based in Beijing. 5 -10 years of experience with international law firm or corporate law department of MNC is highly favored.

Senior Attorney – Beijing/Shanghai – Ref: LPC02908
This is a US Fortune 500 Company. It pioneered the semiconductor memory products, which has developed technology enabling the computer and Internet revolution. The company is seeking Senior Attorney (ideally with 12+ PQE) to work with the Director of Legal Affairs, China.

Senior PRC Consultant – Shanghai – Ref: LPF01908
It is a top three Australian law firm with the largest presence in China. Its expertise in general corporate, commercial, finance and regulatory work have seen the firm consistently ranked as a leading foreign law firm in Asia. Currently, the firm is looking for Senior PRC Consultant (4+ PQE) with solid experience in real estate and M&A transactions.

Associate (Banking & Finance) – Shanghai – Ref: LPF04005
This is a leading PRC law firm. Its Banking & Finance team has extensive experience in representing financial institutions in corporate restructuring and mergers and acquisitions. The firm is seeking Banking & Finance Lawyer (3 – 5 PQE) to join its Shanghai office.

Associate (Capital Markets) – Shanghai – Ref: LPF04003
This is a reputable PRC law firm. Its Capital Markets practice involves IPO, restructuring and financing. The firm is looking for Capital Markets Lawyer (3 – 5 PQE) to be involved in both in-bound and out-bound transactions.

For more positions, please click http://www.lawinn.net/service2.asp

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