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So, what was deducted from my monthly compensation in the entire year, was paid back as bonus. As a result, I just got my full salary for that year, but effectively, no bonus. This starts to hurt more as people progress to AP and Partner as the variable component increases. This is one of the main reasons, many people leave at PA and AP level. No doubt LKS folks are one of the nicest bunch to work with. But the compensation and incentive structure needs a serious rethink.
Fast forward a few years, I got into XLRI. Again, didn't end up going. This time because I'd just started up my own thing. Most of my friends went to top b schools and I have an excellent idea of what goes on there.
FMCG/CPG programs can be considered the above average outcome for the vast majority. I myself had a HUL PPO even before joining campus through something called UFLP. The pay 35L CTC - with an in - hand of around 2lpm. This is for someone who is, on an average, 24-26 years old. Remember, they've also spent 30-35 lacs all in on their MBA and lost 2 years of pay.
I reckon a lawyer at a T1 takes home 2 lpm by the time they're 25 or so without the student loan. Plus, law firm salaris grow faster than CPG salaries. Also, y'all be really using that 44ADA or whatever it is where you don't really pay a lot of tax. I've been led to believe your take home is like 85-90% of you CTC(I'm not too certain as I don't want to pry on my friends)
Ofc, I am not comparing the IB/PE/VC/HF/AIF/strat consulting/PM roles. These are far and few in between and are a top 20% outcome. A good law firm is far more acheivable and in one's control. Unless you're tired sick of law and want a desperate out, a B school isn't worth it. Atleast for most of y'all.
mods please don't over-censor
The other big problem I see is reliance on sources like Wikipedia, which in turn lead to reliance on sources like the Wire, Caravan etc. That is no substitute for reading law journal articles and case law.
Happy to hear arguments for and against.
Get ready for an AM Singhvi vs Tushar Mehta fight in the SC tomorrow! But a more serious constitutional question on whether arrests can be made for interfering with an ED raid.
https://www.republicworld.com/amp/india/breaking-ed-raids-i-pac-in-kolkata-mamata-banerjee-rushes-to-pratik-jains-residence
interested in tech policy. applying there. is it really worth it?
So far I have been through the JK Shah material and it is pretty good.
Things that ARE better here: Much better quality of work, much better training, much less lala family politics in the office and far more professional (politics will always be there anywhere humans work - but much better than Indian family firms). Comfortable life (not rich), no pollution, the power doesn't go out, the streets are clean, the public services (mostly) work without corruption. Basically you can live your life in peace without most the daily hassles of Indian life. Also if it matters to you - far more diverse, much greater range of interesting people from all over the world, incredible cultural opportunities and the chances to pursue any hobby you have (art, music, literature, sports, you name it) with the best people in the world.
Basically you don't come to London for the money - you come for the lifestyle.
Don't worry about nonsense re immigration and racism. No place is perfect but this is probably the least racist place on Earth and in the circles you'll move in as a City lawyer, racism is non existent (and even in other circles, it's mostly a class issue - directed at the illegals coming in boats across the Channel, not high earning City lawyers).
https://www.cnbctv18.com/photos/entertainment/dhurandhar-becomes-highest-grossing-single-language-indian-film-top-10-indian-box-office-hits-19816263.htm/amp
Third one, I can understand about the anti-immigration mood fluctuations, many people wouldn't want the psychological uncertainty and instability that results from that sort of thing - and yes, it comes with the territory. But this "second class citizen" language is putting this very strongly, and definitely does not reflect my personal experience (I am not saying this to contradict you, but putting forward my own perspective). I live in London and have done so for the last five years (and yes, I read the London Times, Guardian and Financial Times every day, so I definitely don't live under a rock here). But I haven't felt like a "second class citizen", ever. Perhaps it's because of my visible disability, but in many ways, I have felt more like a first class citizen in Britain than I ever did in India (and I spent about 80% of my life in India - wasn't one of the privileged [family network-wise and financially] disabled people of earlier generations from India and Israel educated from childhood in the UK).
Last CAT me 55 percentile aaye na aapke...
1. On a PPP basis. You are far more rich in a tier 1 shop in India than a Magic Circle firm in London.
2. Work culture and Hours - if you think magic circle or AM100 lawyers have it easy you are wrong. Law firms are horrible to work at even in Germany (country with most WLB)
3. Far more easy to grow in India - UK, US law firms have saturated. Especially in the UK - legal market cannot grow any further.
Indian legal market will be growing super fast in the coming years. In 30 years I won't be surprised if Trilegal/CAM/Khaitan individually has 1000+ partners and 6000+ associates.
If you are somewhat competent you will make partner in an Indian firm.
Only leave the UK for India if you have this kind of life. Else, get the f*** out of India and save yourselves.
FACT: MBAs head the world's biggest companies, lawyers don't.
FACT: MBAs are paid much higher than law grads.
FACT: MBA degrees are much more useful than law degrees if you want to migrate abroad .
FACT: MBAs give you access to many different types of careers.
FACT: MBAs are far more respected in Indian society than lawyers.
LI: you really need to disable voting on your comments.
1. Not just lateral hirings, all hirings require timing and luck. If anything, lateral hirings are the most meritorious, far more than day 0s and PPOs where candidates are selected randomly or based on how attractive they are.
2 & 3. Friends almost never help in this regard. Unless they're college friends who care about you selflessly. Direct applications to partners are also a hit and miss unless the partner is from the same college as you. Even that, increases chances only by a bit.
3. Recruiters remain the best option for lateral hiring, by far.
I'm willing to travel 30 minutes at max but someone please tell me where shall I look for an affordable flat within 25-30k
In contrast, lower castes have historically had lower levels of education. As a result, they fell behind when it came to family planning and birth control. Hence, we have a large mismatch in our demographics: a small number of upper castes and a large number of lower castes, because the latter have had families with more children. Aside from reservation, the sheer numerical difference explains the data from the IIM study.
This is also one of the reasons we should think about reservation for Muslims descended from lower castes.
Even post increase in salary LKS stands nowhere close to any tier 1 firm.
For instance the remuneration offered to A0 at LKS is 14 LPA + Bonus (at max 1/1.5 lakh) which is nowhere close to SAM (20 lakhs), Khaitan (22.5 lakhs), Trilegal (19.5 lakhs).
Moreover the salary growth trajectory at LKS is much slower than any other firm (leave tier 1 firms).
Just got to know Remfry & Sagar doesn't retain interns??? :'(
Also - the valuation mandates are hijacked by big 4/ big 6 firms or their lackeys.
The High Court had argued that allowing SC/ST/OBC/EWS candidates to occupy General seats would amount to giving them โdouble benefit" โ one through reservation and another through selection in the General category. The Supreme Court rejected this argument and a bench comprising Justice Dipankar Datta and Justice Augustine G. Masih dismissed the Rajasthan High Courtโs petition, emphasising that merit must be given due weight.
https://www.news18.com/india/sc-st-obc-candidates-eligible-for-general-seats-in-govt-jobs-if-they-clear-cut-off-rules-sc-ws-kl-9809683.html
Same principle is followed in CLAT for decades. If an SC/ST/OBC scores enough to make it to the merit list, he or she is shifted to the merit list and removed from the reserved list. The reserved list then admits another SC/ST/OBC candidate. So basically an extra SC/ST/OBC candidate makes it and the number of people in the general category decreases by 1.
planning on applying for a 1 month internship with Samvad (Mumbai) with their lit team.
can someone shed some light on how their disputes team and practice is? also are there any job prospects with samvad mumbai?
I am also considering hyderabad but haven't heard much about offices other than mumbai and delhi.
Academia 20 L per lecture
Maybe he has some backing that the general public might not be aware of.
Secondly because PPP wise comparing I can save more while living a relatively more lavish life in India. (IF you are talking about Magic Circle firms)Thirdly because I don't want to become a second class citizen and be subjected to their anti-immigration tantrums.