Just a friendly reminder that while these numbers look and sound great, keep the following in mind:
1. These are typically for GC roles in MNCs and venture backed startups for a select number of sectors (as the article mentions). Ergo, these roles are few and far in between. Not everyone will be qualified for these roles. As the article indicates, GCs at top-tier cos more often than not, have been partners at respected law firms in the past - which is why they can command such compensation numbers in the first place. The average law graduate would be better placed working with a law firm for the formative years of their career and then switching to leadership roles within in-house teams.
2. 3cr to 10cr is a MASSIVE range. I'd be very surprised if there are more than a handful of GCs earning >7cr a year. Imo, the article conveniently uses a range to create sensational value as opposed to more indicative criteria that would indicate what the most common range would typically look like.
3. Earning 3cr as a law firm partner /= Earning 3cr as a GC. Simply because the 3cr you earn as a GC is CTC - which includes monetary pay, perks and RSUs/Stock Options that vest over time. As a partner it's cold, hard cash. And once you hit equity, the upside is unlimited. Unlike a GC.
Overall, it's great that Corporate India is finally starting to recognize the value of in-house legal expertise. However, unlike what this article suggests, it's good to be cautiously optimistic. There's a long way to go.
But sir with all due respect what is the use of such cold, harsh cash when I am not able to spend it with my family. Those rolex and suits does not interests any more, its the humane family connection that matters when you reach that age. Khair each to its own, ky hi faayda aise paisa k, agar celebrate karne k liye tym na ho.
To be a good corporate lawyer always remember that our job is like a GP doctor. Always on call. To be a good GC this becomes even more demanding as you have only one dedicated client and hence are always on call for them.
The 3-10 cr packages are doled out for the ones who are always available for their client and its needs 24/7.
It is a massive range because you become GC at the age of 38-40 and retire at 60-65. Don’t think it’s an attempt to sensationalise.
And being a partner of a law firm is not a pre requisite to becoming a GC - just look around at hundreds of examples.
Also there are so many companies in India and the article mentions several sectors which are willing to pay these figures.
Not all companies have stock options as part of CTC. And even those who do, most will IPO. See the millionaires Paytm, Zomato, Nykaa, Mamaearth have made.
I have a lot of reasons to be optimistic for lawyers in India over the next 40-50 years.
Sharma Ji aapke IIT wale bete se aab zyada kamayega yeh Noojie
Where are those corp lawyers now huh?
1. These are typically for GC roles in MNCs and venture backed startups for a select number of sectors (as the article mentions). Ergo, these roles are few and far in between. Not everyone will be qualified for these roles. As the article indicates, GCs at top-tier cos more often than not, have been partners at respected law firms in the past - which is why they can command such compensation numbers in the first place. The average law graduate would be better placed working with a law firm for the formative years of their career and then switching to leadership roles within in-house teams.
2. 3cr to 10cr is a MASSIVE range. I'd be very surprised if there are more than a handful of GCs earning >7cr a year. Imo, the article conveniently uses a range to create sensational value as opposed to more indicative criteria that would indicate what the most common range would typically look like.
3. Earning 3cr as a law firm partner /= Earning 3cr as a GC. Simply because the 3cr you earn as a GC is CTC - which includes monetary pay, perks and RSUs/Stock Options that vest over time. As a partner it's cold, hard cash. And once you hit equity, the upside is unlimited. Unlike a GC.
Overall, it's great that Corporate India is finally starting to recognize the value of in-house legal expertise. However, unlike what this article suggests, it's good to be cautiously optimistic. There's a long way to go.
The 3-10 cr packages are doled out for the ones who are always available for their client and its needs 24/7.
And being a partner of a law firm is not a pre requisite to becoming a GC - just look around at hundreds of examples.
Also there are so many companies in India and the article mentions several sectors which are willing to pay these figures.
Not all companies have stock options as part of CTC. And even those who do, most will IPO. See the millionaires Paytm, Zomato, Nykaa, Mamaearth have made.
I have a lot of reasons to be optimistic for lawyers in India over the next 40-50 years.
Which is equal to 200 crore rupees. Unimaginable.