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the truth is almost 15-20% of the partnership has been wiped out in the last 6 months
The partners joining the merged firm will have an earn out based payment.
Ironic that SN & ST are fighting over 40C - sure both Rohanbhai and Vikram are happy they no longer have to deal with the politics of these people - not to mention both Rohanbhai and Vikram are long rumored to be making 30C+ pa for several year now.
Iām particularly looking to understand the actual lifestyle of a civil judge in Gujarat -things like:
- What are the usual working hours and how long does a judge typically work each day?
- Is the workload manageable or does it usually extend beyond court hours?
- What is the work-life balance like?
- What are the major perks and benefits of the judicial service?
- How is the overall lifestyle, accommodation, leaves, transfers, etc.?
- And generally, how does life look after clearing the exam and getting posted?
Iād really appreciate insights from someone who has first-hand experience or knows someone currently serving, rather than just general information available online. Thank you!
Shyam Kapadia, Rohit Gupta, Hemant Sethi etc
Just joined the in-house legal team of a large conglomerate as a trainee associate, Here's my actual dilemma, and I think a lot of final years/freshers might relate: through college, the goal was singular, get a good job. Now that's done, and I realize I don't actually have a framework for what comes after. No clear sense of where I want to be in 3, 5, or 10 years.
Some things I do know: I want to keep growing and working on genuinely interesting/hard problems, not just clock years. Money matters to me, want to build toward a strong earning trajectory, not just "comfortable." I'd like to eventually do an LLM abroad, but not sure when makes sense, right after a couple of years, or later once I have more seniority.
And I don't know if I should stay in-house long-term, aim to move to a different type of company altogether, or go back to firm life at some point.
Questions for people further along:
1. How did you actually figure out your 3-5-10 year plan after your first job, was it deliberate, or did it just emerge from doing the work?
2. For those in-house at large companies, did you stay long-term, or use it as a stepping stone? What made you decide either way?
3. On LLM timing, is there a real advantage to going 3-5 years in versus right after 1-2 years, beyond just admissions/scholarship optics?
4. If "good money" is a real priority (not the only one, but a real one), which paths actually get you there fastest from an in-house starting point, staying in-house and climbing, moving to a different sector, going back to a firm, or something else?
Would appreciate hearing from people who've actually navigated the "job secured, now what" phase rather than generic career advice.
Thanks š
Also, why refer to litigators as the "black-coat crowd"? Why refer to them using a term dripping with contempt? Let me remind you that it is the trial court lawyer, who more often than not has gone to a local law school, who plays the biggest role in ensuring that the State does not encroach on constitutional rights. Lawyers practising before the constitutional courts are the ones who argue against the constitutionality of deplorably regressive legislation. The citizens of this country have the black-coat crowd to thank for R.C. Cooper, K.S. Puttaswamy, Maneka Gandhi, Kesavananda Bharati, Navtej Singh Johar, and god knows how many other decisions which safeguard their life and happiness. The life of the Law owes much to the black-coat crowd and I think you should be ashamed of yourself for considering them beneath you.
In answer to the OPās question, your range of 10 to 30 crores is wide but accurate (pre-tax) for rainmakers who are not founders/founder family. It is good to hear of someone being grateful for their profession, best of luck.
To the commentariat generally - a little more civility, positivity and helpfulness will make your life, and the lives of those around you, better. And this forum a more welcoming place.
Vile guy.
He wants people with non questioning mind dumb robots .
Purpose of education is not to make a person employable.
Has anybody felt that our scope of law is too narrow compared to other degrees like MBA/CA/btech
MBAs are doing marketing , sales , Investment banking private equity , venture capital and everything under the sun , plus Btech + MBA and CA+CFA/MBA are most preferable combinations for working in finance and they dominate that field.
Same goes for CAs , all CFOs are CAs , majority big 4 partners/CEOs are CAs , CAs form the 2nd highest number of IB MDs PE partners and MBB partners after MBAs so their scope of work is too broad from tax accounting audit to IB/PE/VC/MBB and equity research/fund managing.
I must not get started at Btech, TECH is the highest paying and most satisfying domain to work for. I can't put forward my jealousy to my engineer friend who did btech from MIT (manipal) and now working in Zomato making 40 lpa with 5YOE @ 40hrs/week.
What do we do ? It's just hopping between law firms or try to get inhouse roles which are already too scarce and not every organization needs CLO while every organization needs CEO CFO and COO.
Hardly 300-400 grads in law get 15L + as fresher in T1 firms while we compare ourselves to broad spectrum of MBAs and CAs/Btech.
If you see top 500 of MBA/CA/BTECH vs Those 500 NLU grads getting 15L + , the former will mog the latter in career trajectory .
In law we can only become T1 firm partners or Chief legal officer that's it
CAs are majority of Big 4 partners , MBB partners, IB MDs , PE partners and 90% of all CFOs in india are CAs (don't have to remind that CEO > CFO > CLO)
Do you invest in mutual funds ? Check if your mutual fund manager is also a CA , 40% of top 100 mutual fund managers in india are CAs.
Check who the CEOs of major indian Banks are ! All CEOs of big 4s are CAs.
It's like CA have so many avenues , from audit tax accounting to IB/PE/VC/MBB equity research, Fp&a , litigation , fund managers and what not !!
Shameful low for law community.
Both of these, even if true, do not even question the premise that there is a dire scarcity of opportunities in the sector as a whole. It is an accepted fact that for every IPR/TMT team that pays more than 1L to a fresher, there are 50 M&A teams that do the same. And perhaps more importantly, when have you ever seen an Indian IPR LLM person being hired as a fresher at any T1/T2 law firm's TMT team!? In my 5 years, I have never. In fact, I've been told by the partners to typically reject those CVs even when we're shortlisting candidates, unless something extraordinary jumps out.
Secondly, no, the pay is not at par in most of the cases. The average M&A lawyer earns far more than an average IPR lawyer - it's a function of the assignments that create the billing. The typical bill size for an acquisition (with the most basic due diligence, SPA drafting & negotiation) is significantly more than the deal size of the best media and entertainment agreements or IP management endorsement assignments - which is why leading IP heavy firms like Anand or Khimani pay significantly lesser. Even in T1s, I can speak with confidence that KCO pays IP team much lesser, and JSA has a different firm for IP altogether with much lesser pay scales. Even in Trilegal, the team that does IP & Media work within TMT gives much lesser bonus than the Tri BLR team that does core TMT work.
Let's not misguide youngsters. The situation is what it is. You can choose to jump in on it anyway - but beware of the reality.
Equity - 3-6cr
Rainmakers - 8-20cr
What I have seen is at every place be it B4 MBB or Law firms partner component is more or less comparable though the national head kind of partners in B4/MBB make more than Law partners.
The Real money minters are PE partners and itās just crazy, my junior got into General Atlantic investment role from IIM Bangalore and his fresher pay is 70L base + 100% bonus (1.4cr TC) that too at age of 26, wish I had gone for SRCC and then IIM ABC.
I went to Nalsar and am currently doing fairly well at a T1 law firm - and it is possible that I may not even have graduated if not for medical exemptions that were granted by my university. However, I do know of two people who were not given similar exemptions under the erstwhile Controller of Exams at JGLS. This made their professional lives much more complicated and they had to put up with a host of issues for years. I have to wonder if their lives would've been far more different had they been treated in a more humane fashion.
I'm not attributing this to Mr. Latyan, though a number of people would blame the deciding authority as opposed to the process. But on a systemic level, I hope the university takes this departure and the subsequent transition as an opportunity to revisit some of these absurd policies that currently exist in the name of this 'academic rigour' which he is proud of.
Honestly he's I am not happy with this life because I have no time for my family so just wanted to discuss in this forum and take opinions of how these high paying jobs suck your soul.
The Top grad of CA mogs NLU grads anytime , just check their alumni network buddy
jitne CAs IB MD PE/VC aur Big 4 partners hain utne to lawyers partner nhi hain tier 1 firm mai
CA is anyday superior to law
I don't know about CA + LLB but can assure you of CA + MBA that this is the most deadly combo on campus , all the IB and VC shortlist are dominated by CAs followed by IITIANs and These firms pay analyst 2-3x of what Law firms would pay A1.
Also there are hardly 500-600 tier 1 associate positions paying 15L + while total CA graduating are 20000 and still grabbing 8-10lpa easily while 1st attempt guys are getting 14-20lpa
If you compare top 500 of NLU grads vs Top 500 of CA guys, CA career will mog the hell out of us lawyers.
This is simple statistics and what is this CFO glitch lol, all the CFOs I met were CAs . Like 100% of CFOs in this country are CAs.
My portfolio is not able to beat the nifty 50 index.
Moreover, they are very slow in executing instructions.
While I understand that the job is important, I would suggest that you eventually create a boundary around your work. These people usually keep pushing until they are told firmly to stop. By firmly, I donāt mean being confrontational; rather, put your situation across in a professional manner so that they understand that if they keep putting you in the same situation repeatedly, you may eventually push back. I have noticed that people like this tend to back down when they realise that someone is willing to push back.
A valid thought that may have crossed your mind is to have a conversation with him. It might work, and I would suggest trying it once. If he says that work will come and that you are here to work, just state that you are trying, but it is impossible to look at this many pages within the given timeframe. Do take the example of others and point out that a similar amount of work is given to others, but their deadlines are different. This is what I have done, and it has worked for me. Now, if in the past you have completed the work within your partnerās unreasonable timeframes, please donāt give your partner the impression that they have someone who will do it even if the deadline is extremely short. The more you do it, the more work he will give you.
Also, please be aware of your team members. While they may seem nice, the issue arises when they start taking every small hiccup of yours to your partner. They may not do it regularly, but they tend to do it when they see that the person is already upset with you on a particular day. For instance, there may be days when your partner has shouted at you or has unnecessarily formed a negative opinion about you or your work. Those are the days when such people may go and add fuel to the situation.
Lastly, try to mentally disassociate yourself from the firm and the team. Stop giving them so much space in your head. I know it is easier said than done, but I have already reached a point where I have consciously decided that I donāt care about any organisation or team that I am currently working with or may work with in the future. That mindset is something you need to develop for your own peace of mind.
At the same time, start applying elsewhere. Put your CV out to recruiters and follow recruiters on LinkedIn.
Be strong. I know it is frustrating, and the worst part, as you said, is that some of these people donāt even know the basic law but behave as if they are rainmakers, while giving you the silent treatment or behaving like children.
I know you want to work and learn, so try to do that. Whenever they ask you to do something urgently, ask them when the matter or transaction is actually happening. Tell them what is already on your plate and say that it is not possible for you to take it up within that timeframe. Please add people to the work he needs urgently and divide the work. Complete your part and send it just before the deadline so that the other colleague who is doing the other half doesnāt ask the partner to give that part to you because you are done with your work early.
Lastly, try to create a perception within the team, especially among one or two people whose opinion carries some weight, that you are diligent and already busy with your work. Even if you donāt have much on your plate at a particular moment, create a perception that you are working or that your current task is tedious. Now, whenever these sudden āurgentā tasks come up, having this perception can give you some room to say no or push back. So, it works like this: if the partner asks about you or talks about you with other team members, at least someone can say that, yes, he already has work on his plate.
All the best, brother. Stop giving them this much attention, be who you are, and make your own time. Yes, you and I are replaceable, but so are others in other organisations. We are also here to replace someone else, not only to be replaced.
For document heavy disputes (12-13 volumes comprising a total of 5k plus pages) deadlines from me are to cull out drafts overnight, when his pet associates take days for the same work nothing is being said (I guess urgency is only pertains to my work). He seemingly has a problem with me but is not man enough to confront face to face.
The person gives me silent treatment and is reluctant to work on any matter with me. For context I am not a fresher also.
On top of that the person has zero knowledge on basics of law and does not even make the deliverables clear. Has no sense of talking, mannerism and etiquettes whatsoever.
All of this is impacting my personal relationships. I feel anxious. My confidence has dipped to such levels that i need AI to validate my work ! Someone please guide me out of this ! Thanks and much love to all those facing similar issues.
So, I don't want to "fix" it, but I suffer a lot with clerical and routine work, and this gets aggravated by the fact that I have a weak memory.
I have started maintaining calendars/reminders (I plan to do this aggressively) and also trying to put a structure in place (so that I dont have rely on my memory to recall what I did mostly).
Is there anything else can be done to make things better?
During my internship at the NCLAT, I researched several provisions and rules, which I mentioned on my CV. The interviewer asked what a particular section provided and what the Supreme Court had recently held on it. I was unable to answer because I am currently in my third year and have not yet formally studied the Insolvency and Bankruptcy Code. I also did not remember the exact wording of the provision and did not want to give an incorrect answer.
How do i avoid these mistakes in my interview?
Land law depends on provinces