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https://www.barandbench.com/amp/story/news/corporate/kirkland-ellis-elevates-nalsar-grad-sandipan-de-to-partnership
1. Not worrying about monthly expenses (whatever your lifestyle may be)
2. Having an asset base (houses, solid investment portfolio, liquid cash holdings)
3. Enough to set aside for future expenses (family, health, education etc).
For me (SA at a T1), the target is 20 crore networth. After that, I’m out.
Have interned at a cm team once last month and messaged everyone on the team daily and turned in work on time and as per what was asked. Got good feedback from the team. but didn't even get a callback, I dont wanna live like this.
Don't you trust yourself enough to know that there was an earthquake that you're asking others?
No, lawyers are earthquake proof...hume aise earthquakes apni workspace main roz milte hai toh kuchh feel nai hua aaj.
LI ko kya hota jaa raha hai :/
https://theprint.in/india/delhi-police-raids-homes-of-journalists-others-following-fresh-fir-against-newsclick-under-uapa/1787550/
https://www.hindustantimes.com/india-news/explained-why-has-the-delhi-police-raided-newsclick-journalists-linked-to-it-101696324462171.html
https://www.youtube.com/watch?v=hfEba7c_B80
https://www.youtube.com/watch?v=b00_Qb6rGHI
https://www.youtube.com/watch?v=eS3GssziLws
https://mpowerminds.com/about
https://www.ensowellness.in/
https://www.mansitherapy.com/our-team/
https://in.linkedin.com/in/dreradutta
1. Are you providing for 1 person, 2 or a family (this will change things considerably)
2. Which city are you going to be staying in
3. Does retiring mean complete retirement with 0 active income, or minimum active income.
The number would be based on the above answers, and could still range from 5 crores to 30 crores, again, of course, depending what your 'base lifestyle' is.
Tier 2 - FP Journe, AP,
Tier 3 - Vacheron, JLC, Blancpain
If budget is below 1 lakh go for Longines or IWC
Please don't quote Musk on LI, it doesn't make you sound smart.
If you are not from Mumbai, please factor in how much it will cost to live and how much they are paying. All the best!
STEM guys having new age smartwatches.
Link to Article: https://t.co/5Zs0YR2BqH
Tweet on Censorship: Ajay Kumar on X: "I was censored by a publication that I was one of the founding columnists of because I refused to toe the party line on Gandhi. I am angry yes. But I am also very very hurt. Being censored, hurts." / X (twitter.com)
At times salary is revised upon completion of probation provided you negotiate that prior to joining (for laterals).
Our dates include going to decent 3 star restauarants once a month where the cost of 2 would not exceed 1200/-. We went for movies once in 4 - 6 months because we were aware that it would cost us 500 pp. Both of us chose to invest in medium term and long term stocks and other investment instruments. Gifts were minimal for each other. We took a short trip to lonavala. We were well aware that the sacrifices we made were only temporary and definately worth a secure future.
Today our incomes have multifolded. Our medium term stocks are giving us returns (40% and upwards). Yet, there has not been a much change in our lifestyle barring the fact that earlier we used to plan our weekend dates and now we are planning our Wedding which is in Feb 2024
Quitting without giving notice to existing employer and taking relieving letter is not toxic.
It comes handy in rare but important occassions
0 wins
7 instagram posts
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One suggestion - Please invest in educating yourself in managing finance.
But here are few observations -
Short answer: Avoid car and increase investments, rest looks good for a happening life....enjoy it.
Long answer:1. Getting a car might not be the best financial decision. In a city like Bombay it can also be mentally exhausting to drive in such traffic.
2. Bumping up savings could help but not at the cost of living life in your early years. Having money to enjoy with your partner/friends holds higher value than putting it in a 7% FD and sitting alone at home.
3. Investments:
3k investments is very less to be honest. You have to start the magic of compounding at the early stage of life, hence adding a bit more could boost your savings substantially in the future. Try aiming it towards 15-25k per month depending on how happening life is during each month.
Further, instead of keeping savings in your bank account replace it with FD (unless you need that money in coming 1.5 years).
Also, you could be better off to not count bonus as your income for this financial planning as it will help you be more conservative.
78 ppos
Learning wise - the best.
Whether you want to be the employee or employer totally depends on you, based on your skills, client retention and work ethic.
Moreover you can always aim to crack the judiciary if you want a change of pace.
Work now, earn now, spend now, save and invest now, enjoy now. Aage ka kisne dekha hai ?
A friend of mine who has a son in the final year of college sent me a link to this thread saying that this reflects the doubts that many young people have about starting in the profession, and that maybe I should pen my thoughts down. While I have a more modest claim than others to weigh in, my little bit may help some lost soul. I didn't find a platform more apposite than this one, so here goes.
FIRST, the SENIOR DESIRE:
Many of the queries here are of those who want to join a senior and at some point become a designated senior advocate. Maybe its relevant to consider that there are several thousand senior advocates across the country and the large majority of them are not really considered brilliant - they just got to a stage when they were given the designation for one reason or another, but they are not in a position to command a great quantity of high level work or have an output that would justify a higher fee or even have the respect of the Court or their peers. As a consequence, nearly 90% of the designated crew do outstation and tribunal work far removed from the courts that designated them. Many are unscrupulous and do distasteful things, including directly approaching clients, soliciting work and paying commissions, not to mention choosing political affiliations to get some prominence. And yes, many of the so-called "successful" ones do all this as well, but each to her/his own.
Note that all of this is just those who DID make it to seniors.
Now look at someone who enrolled in the 80s or 90s with the light in their eyes of being a Fali or Soli or KKV. That young man or woman makes it 25 years into the profession while watching a few of his peers (less than 0.15%) becoming seniors while his/her own recognition has not come. But this individual is far from discontent. You know why?
It is because he/she didn't make the destination of a flapped gown the priority. They choose to have a balanced life with books and friends and fruitful relationships and kindness. Of course they worked - honestly and industriously and sometimes with great imagination. If the recognition is to come with all of that, it will. If it does not, at least you did not waste the most important years of your life yearning for a goal in which a large part is played by lady luck.
This illustration is not just fictional - three of my peers - Haripriya Padmanabhan (1998 NLS), Gaurav Agrawal (1999 NLS) and Aman Ahluwalia (2002 NLS) are the finest advocates I know. Whenever I have doubts in commercial law, in practise and procedure or in private law, I turn to each of these respectively. They all have everything that I believe a senior needs - integrity, intelligence, imagination, rigour, tenacity, wisdom, honesty and goodwill. I rate them higher in their disciplines than ANYONE in the country. Note the words I used - ANY ONE. I am in the blessed position where I can pick up the phone to literally any lawyer in this country to get advice or counsel, but I am not picking up the phone to ANY ONE else. The reason is that in my assessment, the senior gown is not a guarantee of the best advice - most times it is only a measure of indemnity for a solicitor besieged by an anxious client. And for some things like decency and culture, there is no senior gown. These three wonderful lawyers best demonstrate the fundamental flaws underlying many of the posts here which require correction: (1) Do not keep the senior gown as your goal, but allow it to be a happy marker on the road well travelled. (2) Do not believe that only working with a senior will be some sort of magical passport in your career - just look for an office which is not toxic and where there is a learning curve.
SECOND, the IDEAL PATH.
Friends, if I knew the answer to this one, I would have cashed in on it. There are broadly two routes that young lawyers take - they either start at the trial courts and then over the years move on to the High Court or Supreme Court OR they start directly at the court they want to make their final destination. As a Bangalore boy who started directly at the Supreme Court, I chose the latter. Over the last 20 years, I am happy to say I have found many young people (including all 6 of my current chamber juniors) starting directly at the Supreme Court and acquitting themselves well. Of course, we may not know the high skills of cross examination or the intricacies of a home food memo, but the system at the Supreme Court makes huge allowances for territorial peculiarities and permits some good reading to bridge the gap. However, as a High Court or Trial Lawyer, you get to spend so much more time on building a case from scratch, in making sure all the necessary grounds are taken at the outset and in poking holes in the opponent's case. Coupled with Tribunal work, these breeding grounds are second to none for a seasoned litigator. I dont knock either avenue, but I shed light on them only to the exclusion of a third.
My views on mentorship you can glean from this interview a few years ago:
https://www.youtube.com/watch?v=caRV65oSAzE&t=2s
[See from 23:57 till about 31:00]
THIRD, the OFFICE
If there are no financial burdens on hand, I would suggest starting off in litigation right away. But be careful in looking for an office.
The ideal mentor's office should have the following:
a. A busy boss - who has reason to go into court at least 4 days a week;
b. A colleague or two - for the company;
c. A decent pay - which does not require you to borrow
d. Freedom to do your own work - without any compulsion of routing it through the office or the boss
e. Reasonable free time when there are no pressing matters on hand
f. A boss who will try to clear doubts and not be dismissive of contra view points
g. Reasonable vacation spells
h. Sprinkings of Pro-Bono work, to show that the boss has a heart
The ideal mentor's office should NOT have:
a. A toxic atmosphere where one lawyer is played off against another to foster insecurities
b. Abuse of any sort - that is a complete non-starter
c. Associates being policed - being told not to go into courtrooms or canteens or meet friends, etc
d. Chauvinism, casteism or prejudice of any sort
e. Too many associates - this would appear to be only decorative and not really as a means to guide or educate
THE BONUSES (not necessary dealbreakers if absent)
a. If the office goes to multiple courts or tribunals
b. If the office covers a large swathe of areas - civil, criminal, corporate, etc
c. If the office has a coffee machine, cafeteria, gym, etc
Most important, below is what DOES NOT matter to most litigation offices that you apply to:
YOUR GRADES. Sorry, but thats a fact. Your excellence in cracking an exam does not necessarily mean you can process and research propositions or be innovative when a jurisprudential problem presents itself. Hardened litigators know the "Topper's Fallacy" well, and would be impressed only with good internships or written work that shows your ability to analyze and grasp complex issues. There is a reasonably well-rooted belief that a law graduate knows nothing useful until he starts the practise, and so the expectation of him or her is not a prior knowledge of the law, but an aptitude for court work. The evaluation parameters of the latter are entirely different.
Remember, this is not a competition - dont bother what anyone else is doing. When you are 40 or 50, you will regret having thought of it as a race when you were in your 20s. Each person has a distinct personal and professional journey ahead - tread sensibly and it should all work out decently.
I hope that in some small way these thoughts help all of you on your journeys.
All the very best.
Gopal
P.S. My reference to 3 NLS peers is not to judge or exclude any college - it is only to identify my own milieu. Each of you will have stories of a similar nature wherever you come from.
Thanks in advance!
Thanks!
Not the best source of information buddy.
My suggestion to young graduates is this - don't write off litigation too early, it great once you get going, and be patient. The money will come, and then it will be a flood.
(2) too low, if you have anything close to the ideal T1 networking/social life
(3) this is a waste - why would you invest in a depreciating asset in a city like Mumbai (that too early career when its just your commute)
(4) what luxury goods will you get with 10K a month? Don't even think about going down that route till you make more money (A3/SA onwards)
(5) too low for any respectable neighborhood in Mumbai, with a practical commute to the office
(6) no comment on this buffoonery
The sense of security you are looking for is what drives most people into corporate law jobs.
I am surprised that you are asking about it after 7 PQE. Everyone knows about the challenging road of Litigation as soon as they intern in/join them.
Things are not better even in DHC or SC, only top 1-5% earn luxury level of income, rest 10-75% make average and rest just drag their practise and carry on.