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The Big Five law firms is a term informally used in South Africa to refer to those law firms which, collectively, are perceived to be the leading law firms based in South Africa. The following firms are usually seen as comprising the "Big Five" (listed alphabetically): [ discuss ] [ 1 ] [ 2 ] [ 3 ]
This is a list of global law firms ranked by profits per equity partner (PPEP) in 2021. [1] Firms marked with "(verein)" are structured as a Swiss association . These are estimates and equity partners can make vastly different salaries inside the same firm.
The salary distribution is right-skewed, therefore more than 50% of people earn less than the average net salary. These figures have been shrunk after the application of the income tax . In certain countries, actual incomes may exceed those listed in the table due to the existence of grey economies .
Law firm size. Median starting lawyer salaries in 2023. 100 or fewer lawyers. $155,000. 101 to 250 lawyers. $160,000. 251 to 500 lawyers. $190,000. 501 to 700 lawyers
The legal sector contributes to +- (0.5% to 1%) to GDP in South Africa. [79] The growth of South Africa's legal sector is based on the economy and business confidence, which increases deal flow and the value of the deal. [80] In 2017, the South African legal sector was estimated to be worth R30bn. [81]
Average wages can differ from median wages; for example, the Social Security Administration estimated that the 2020 average wage in the United States was $53,383, while the 2020 median wage was $34,612. [1]
In South Africa, [1] Attorneys are lawyers who provide legal advice and representation to clients, aiding individuals and businesses in their legal dealings, and as required, handling related correspondence and writing up contracts. In litigious cases, or when an opinion is required, the attorney will "brief" an Advocate; [1] see below.
South African median employee earning is R2800 a month (USD 189.45) and the average earning is around R8500. These figures are found in SA statistics. Indeed, they reflect the huge gap in the South African society with a large proportion of the population under poverty line that does not have the same opportunities for employment.