Upcoming longer training contracts could hurt law firms’ bottom lines
But the impending change brings Singapore closer to international norms, note firms
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SINGAPORE’S law firms could end up earning less from clients while paying more for trainees, once a longer training period for law graduates kicks in from 2024.
Currently, graduates must complete a six-month training contract at a local law firm before they can be considered for admission to the Bar, which then allows them to practise. But from 2024, the required practice training period will double to 12 months.
This could mean a loss of revenue for firms, said K Anparasan, managing director of boutique law firm WhiteFern. “Firms are generally not able to charge clients for their trainees’ learning while they work on client files.”
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