Understanding how much lawyers make and law firms' remuneration system matters as it can help you understand law firms as a business. In this video, I will give you some commercial awareness tips and help you ace a training contract application.

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0:00 Intro
0:49 Pay war between law firms
2:03 US law firm pay rise
2:34 Lockstep vs eat-what-you-kill
2:50 Lockstep remuneration system
4:17 Advantages & disadvantages of lockstep
5:52 Eat-what-you-kill remuneration system
6:11 Advantages & disadvantages of eat-what-you-kill
8:49 Modified lockstep
10:09 Mention it in your application form