Let's accept it- we are curious about corporate law firms salaries. The first thing that I was told upon joining a CLAT coaching class was the amount I would made after I crack the exam and get a placement 5 years later. I now have a job offer. But LI comments have always made me curious about how my paycheck would look some years down the line at similar firms.
I know it varies but perhaps you can tell your PQE and current firm and salary, and we can have a nice, public, transparent database.
Why didn't you join then? Its surprising how you troll here. In my 10 years career I've never come across anyone from this firm and I don't know any who has even joined any top tier. I have worked against almost all tier 1 and 2's over a decade and have never met anyone from this firm. I wonder the management has no job than posting fake news at legally India. If these people ever come for interviews I would suggest the hr's of the firms to ask for ctc proof. I think this is necessary considering if associates can lie on legally india would also lie in interviews.
Its true, they have a small team and work on PE/M&A transactions. They do proudly share that they have top of the market pay and that seems to be true based on what people working there have said. But the workload looked intense
Lexygen SA numbers are correct. They posted on their LinkedIn page couple of weeks ago for SA position and said SA fixed pay is 24 - 27 L and bonus can go up to 10L.
When I was an A0 in trilegal in 2016, my salary was more than this. So either you got the short end of things at trilegal, or I called your bluff on your agenda to spew misinformation.
I agree. Trilegal A0 for 2021 is approx 1.1 pm + 1.65 Bonus (cos prorated, for 8 out of total 12 months on a larger 2.25-ish bonus component). So that's a 15.5 roughly. I am guessing TDS brings down in hand to 99 a month, but I guess you get back a good portion of it by proper tax savings, so 14.8 approx till March of next year by my calculation.
I mean, it is 1.1 per month, plus a bonus of up to 2.25 lakhs. But since it will be prorated to term spent on retainer in relevant FY, I guess max bonus is around 1.6 Lakhs. So while you can make up to 15.5 in a year, the relevant FY is shorter and consists of only 9 months. So, in that sense, the annual salary is approx 15.5. Jai Shree Tau.
And break down is what happens to me when people like you find faults with English of some random person on some random forum. I am just tired of people like you.
A3 - 10 lpa + Bonus variable 50k-1l I joined DSK from a boutique firm and they screwed me on basis of my last earnings. Firm has no standardisation with regard to salaries and A1 and A2 are making more than I am right now.
Depends on the team. Some teams have A1 salaries at 18-19L pa and some have 16-17L pa. Increments at L&L are team specific and depend on the team’s partners and their revenues.
A0s start at 16L pa (1.15 pm + upto 2.2 bonus). Based on performance, as an A1 and A2, you can expect a 10-20% jump in both variable and fixed comp (as 18.1 points out). Obviously, Covid messed everything up and proper increments were not seen since 2019. A 7% temp increment on base pay was given to counsels back in April 2021 (pending appraisal for 2020-21) - which was funny because 2019-20 appraisals were not considered for the 2020-21 increments. I hope MS and RKL open their purse strings to retain talent - whoever chooses to stay/go with them.
you have to bill out 2https://www.legallyindia.com/convos/topic/159605-Honest-law-firm-salaries#.5x of your total cost to the firm. 'x' is a standard method of evaluating performance.
I feel these are on the lower side. At least SA2 onwards. 10-20% higher, for the highest end of the range, should be more accurate. While this may be a helpful guide, this is not entirely accurate.
These figures are the norm. If you are well connected or get business for the firm due to the silver spoon you were born with, different considerations may apply. But those cases are may be 5%.
It is almost accurate actually. You are looking at it the wrong way (perhaps). You need to zoom in and out, look from different angles. For example I have 9 years of exp., but I am still an SA. But my salary is in the PA2 range.
Agreed. The higher end of the range should be 10-15% higher even at the A3/SA1 level, in normal circumstances. I think COVID has affected things and got fees to slip within this range at some Tier 1s (not Trilegal though, which has actually paid out more than entitlement on account of the extra COVID pay).
Mai bhi tumhari tarah hi tha college mein. The numbers are where you are on the ladder. A0 means fresher, A1 is someone with one year experience and son on.
Sorry to break the news, but this is to lower your expectations buddy. The amounts are ok up to SA1 but 10-30% on the lower side after that, and even more deviation partner level onwards.
Of course, there will be deviations. As corporate lawyers, we earn some good dough compared to the average professional. I'm not going to lose sleep if someone is earning a fraction more than me. I repeat - I am doing ok. :)
SAM (A4) 2017 batch ( salary for April 1, 2021 onwards)
20,57,000 + 3,63,000 Bonus. -This is as per calculations done owing to the increment update we received at SAMCo this week. this includes the "not so bumper" 10 percent hike in fixed from April 1, 2020 onwards and the proposed 10% further hike on both variable and fixed from April 1, 2021 onwards. Slight chance of a plus 10 - 15 percent increase but I don't think management will be this kind) Also I wont be making SA this year (capital markets associate with seniors who are yet to make SA).
So do salary increase a little more at SAM or other firms if we are promoted from one designation to another, or Is it mostly a consistent percentage?
Quite low. An SA will get what an A1 gets at a top tier firm. Not necessarily because the SA is not good or is not billing but because performance is not rewarded. Partners who have decent flow may be happier as they get decent associates at a fraction of the cost. Stay for a while to get training from a good partner, if you must. But dont stay too long.
Hello. Left the place a while ago for one of the T1s. They cut my experience and onboarded at the fresher pay for them. I’m making more right now than the SA at my old team. Go figure!
Can someone please throw light on the pay of the firms primarily involved in litigation such as Keystone Partners, Kachwaha and Partners, Kanga & Co., Bharucha & Partners, Link Legal etc
Alternate month??? I am joining HSA next month, and that is a material information they did not tell me. If it is true that is..can somebody confirm this?
Trilegal A0 here [Batch 2021]. The pay is 13.2 + 2.2 [performance based retainer]. I understand that the pay scale has not increased in over 5-6 years. Hopefully after NDA's hike, this will trigger another salary war like it did in 2015.
When it was Suvan, the pay was not uniform. For freshers, it was from 35K to 70K, depending on negotiate and college. It was the high level securities matter that they were doing that made me work there, not the pay.
I work with a leading law firm - will not get into position, seniority etc. I come from a non-law background, and have really struggled at every stage - sub-par law school, no peers or family in the profession - have printed my CV and walked to reception desks of law firms to give them, followed up with reception desks for an interview call and called up distant relatives for help in the faint hope that they know someone in the profession. Started off with what probably is a Tier-6 law firm today practically working for free, and moved amongst Tier 5/Tier 6 law firms and got additional qualifications before getting my break - and have blessed enough to be able to show that a non-law school (and non-law background) determined lawyer from a sub-par law school can consistently do (reasonably) well with the best in the profession. It is a marathon and not a sprint - if you keep at it and constantly innovate and improve yourself, opportunities will come to you. It may take days, weeks, months or even years- you will get your chances. Wait for them, and then grab them with the hunger and determination you have. Best of luck.
The amount of depression is immeasurable compared to figures showing here. While all of you discussed the pay scale of the firms one is at. I am sure our mental state transcend every horizons of it. As I read all of it, i see the time which reads 3 AM in night, in a room full of dark, acknowledging the fact that I would have no job probably for atleast 6-7 month post graduation. Seeing how i failed myself to help my parents. This is very disturbing. The problem is not that i fear the struggle but i am afraid of how long it continues and the ripple affect it would have.
First up, you have not failed anyone. If you are a law student of a five year program, you are among the 8.15% of India's population who is graduate, and among top 1% who is fortunate enough to hold a professional degree like LLB. Congratulate yourself, because you have achieved much, and you are yet to graduate.
On top of all these things, you have graduated in the best time of our lives. There has never been a better time to be a lawyer, never has been a better time to be aspiring and to dream of a better life. There are opportunities if you have the patience and grit. Please put up a separate thread as a 'Job Seeker', and ask about what you can do, and I will clue you in on the opportunities available, as an entrepreneur, freelancer, writer, etc. among others. As someone who understands the legal job ecosystem better than most, I can lay out for you your game plan if you put in details on your background. If you put yourself out there for people to look up on your LinkedIn, I am sure you will receive constructive remarks, negative maybe, but constructive, that can help you better yourself and get what you want. This is better than wallowing in self-pity.
Having said that, let me highlight that I come from a private law school. I lacked polish in language, conduct, background and made it up with hustle. I hustled for myself and I hustled for my batch mates and juniors to get ourselves a break in India's corporate firms. But I also witnessed. I witnessed that none of the students in my batch who wanted to work for someone, were without work. I am talking about a sub-standard private law school. Everyone who wants to get work, gets work. Do you know what consistent cry is accross legal chambers, law firms, in-house departments? - We do not have good talent, there are no good lawyers available. The demand is there, making the supply expensive. This is where you can think about coming down from the high horse, figuring out a interest area related job and jumping into the work. Few of my batch mates of 2019 who started jobs at 20-30K (scored at an average of 3-4 months after graduation) now make moderately well between 1 lac and above. They jumped into their interest areas, put in hard work, made themselves indispensable and developed acumen.
Don't worry about money, money will flow with dedication and hard work. Impress the right mentors, impress them with your skill, creativity, zeal and hard work. Worry about whether at the end of ten years in this profession, will you be able to look back and say - 'Cheers, I lived my dream?'.
[i]At an average you have 40 more years of work ahead of you, pace yourself, don't loose hope in the short term only to loose in the long term. Cheers.[/I]
Please be kind to yourself, these are COVID years, and its not a failing on your part that your employment is delayed. Keep focussing on upgrading your skills and you will get an offer sooner or later.
As a A0 (2021), I got 1.2L/month + 1.2L (bonus). As an A1, started getting 1.4L/month + (revised retainer letter is unclear about bonus). Let's see what happens!
Delhi (Corporate): A0 - 30K per month (upto 2 months of pay as bonus possible but don't count on it) A1 - 45K per month (upto 2 months of pay as bonus possible but don't count on it)
Bangalore (Corporate):
A0 - 40K per month (upto 2 months of pay as bonus possible but don't count on it) A1 - 50K per month (upto 2 months of pay as bonus possible but don't count on it)
Hi, I am starting an internship with IndusLaw at their Delhi office and was hoping to know more about their compensation structure. Can someone help out?
Can someone give some insight into Nishith Desai and Associates - salary and work culture. Because if everything is so great there, why are people leaving the firm recently so much.
Hey, please share some details about Algo Legal Bangalore. They seem to be really active in PE sector, but what is their salary and do they take freshers. Thank you in advance.
I thought people from SLS and lower NLUs who make 15L at Samvad as freshers. Even assuming a huge bonus component within it, it certainly won't come to 60k per month.
30k to 40k per month and bonus is about a months retainer. Its pathetic because of the amount of work you have to put in and the remuneration you get are absolutely disproportionate.
Is there a difference between Fresher joining in Delhi and Mumbai? I have heard that Mumbai T-1 want their associates to live at a reasonable distance from the firms, so a bit higher salary to Mumbai fresher? Is this true?
Annual retainer (post September 2018 increment) INR 47.40 lakhs.
Bill share @ 10% tied to recoveries and proportion of hourly billing (Forex vs. Locex) versus fixed fee assignments.
Bonus capped at INR 8 lakhs and actual tied to recovery of at least 2.5X, plus kissing the EP’s arse (which I never did). On a two years’ average, between INR 4-5 lakhs.
If you worked for Bombay Baniya, the lucrative nature of your assigned work and compensation largely depended on how malleable and moisturised your lips were. And yes, size did matter, north of the equator.
I do feel that I let my feeling get better of me and wrote something irrelevant here. however, nice of you and others to not feel annoyed by it rather took time to instill a ray of hope in me difficult times of my life. I do feel this perhaps very good for someone to take time out of life to explore different things and ideas. As many of the Normal law school kids do not get such disposable time with them, unlike them I come from laid back college like GLC which has provided us a good amount of time to explore different paths and ideas. while I did like the whole idea of the way GLC operates but ideally for me my last 2 year of law school was very important for me to focus on career after coming to the full circle of finding what suits me or not but as the faith would have it nothing went like the way I hope.
but let me admit the positive outlook that is embedded in your vision makes me go one more mile ahead, once again. I was staying afloat, looking for opportunities on every job desk board like Linkedin and others, still having to find nothing at the end of the day. I still try and try, look and search for it. not that I would stop but positivity in me has taken a hit. I do agree ma'am/sir that I should be open to more non-conventional work as well but as you tend to move ahead in your life you get more averse to trying something new. But taking a leaf out of your wisdom. I will put a separate post like that to learn new things and ideas to help myself and others who may be traveling in the same direction but at different horizons.
Also, I wish I had a mentee like you to be the guide that everyone needs.
will look for you there on the new post to help me more.
Good boy, 37.1 "Let me help". I came here to anticipate my son's fate. Passed in 2019, placement cell sent him to Mulla House (not mulla and mulla cb&c), now with 2y 5m will appear at the final interview in a Tier 2 tomorrow. Found a lot of bad boys here, till I reached 37.1 .. your words were like a balm. No one knows and tells a non-nlu on how to prepare. Though my son's a doughty chap, (from a heritage college which gave India a few CJIs,) but is nowhere near like a creepy worm that I found here.
I know it varies but perhaps you can tell your PQE and current firm and salary, and we can have a nice, public, transparent database.
I have an offer from SAM and it is 15L all fixed.
Your turn, now!
12.6 LPA (fixed) + 1.5 L variable
Fresher - 15 lakhs + bonus
SA - 24 lakhs + bonus
Base: 2.10 - 2.30L per month
Bonus: 14-18L.
SA2 2.1 PM + TBD Variable. Haha.
Jai Shree Tau.
1.25 per month after all deductions.
I joined DSK from a boutique firm and they screwed me on basis of my last earnings. Firm has no standardisation with regard to salaries and A1 and A2 are making more than I am right now.
I hope MS and RKL open their purse strings to retain talent - whoever chooses to stay/go with them.
Infact last year the range of bonus for SA1
was 10-14L. Average payout was 11L.
Performance based bonus of upto 6 lakhs per year before tax.
Super performer bonus is 6 lac for Associates.
A0 14-17
A1 15-19
A2 16-20
A3 17-22
SA1 25-35
SA2 27-38
SA3 28-40
PA1 35-45
PA2 38-52
PA3 40-57
P1 65-80
P2 70-90
P3 75-95
P4 80-105
P5 90-115
EP 125-350
Discount 10-30% for Tier 2 and 20-50% for Tier 3.
A0 is an associate with '0' experience
A1 is an associate with '1' yr experience
A0, A1? Can someone tell what these numbers against A and other positions are?
A1- second year associate
A2-Third year associate
Likewise SA= senior associate
PA=principal associate
Good to know I'm doing ok. :)
PS: S&R is not tier 1 by a mile and a half.
As corporate lawyers, we earn some good dough compared to the average professional. I'm not going to lose sleep if someone is earning a fraction more than me. I repeat - I am doing ok. :)
How much bonus is average for an A1 in the above firms? What is a sizeable number?
20,57,000 + 3,63,000 Bonus. -This is as per calculations done owing to the increment update we received at SAMCo this week. this includes the "not so bumper" 10 percent hike in fixed from April 1, 2020 onwards and the proposed 10% further hike on both variable and fixed from April 1, 2021 onwards. Slight chance of a plus 10 - 15 percent increase but I don't think management will be this kind) Also I wont be making SA this year (capital markets associate with seniors who are yet to make SA).
So do salary increase a little more at SAM or other firms if we are promoted from one designation to another, or Is it mostly a consistent percentage?
KCo - SA 1 (10-15 lacs variable + 26 lacs fixed)
S&R - SA 1 (Variable is dependent on performance + 26 lacs fixed)
Trilegal - SA 1 (10- 12 lacs variable + 24 lacs fixed)
JSA - (SA 1 - Total fixed + variable 30-36 lacs)
AZB (Variable is dependent on performance + 26 lacs is fixed)
P.S. - Enjoy your last year. Worry about all this in 2022, when you graduate.
Also, which office?
9 LPA + 1 lac bonus
also, what should i do to secure one?
thank you!
https://www.legallyindia.com/convos/topic/161616-High-paying-boutique-firms-
Salaries (excl bonus) are quite low and get competitive only from year 4 (SA 2) = 15L
Year 5 PA1 = 18L
PA2= 22L
PA3= 25 L
JP1/PA4 = 30L
Trade off - a life and a 9 hour workday max.
Associates have been paid retainers till January and Partner till November/December, depending on who I like
A1: 7.8 Lakhs
A2: 9.1 Lakhs
Retainer divided into 13
Variable: revolving policy but about 10-20% of fixed retainer
Retainer payments every alternate month since last March
I work with a leading law firm - will not get into position, seniority etc. I come from a non-law background, and have really struggled at every stage - sub-par law school, no peers or family in the profession - have printed my CV and walked to reception desks of law firms to give them, followed up with reception desks for an interview call and called up distant relatives for help in the faint hope that they know someone in the profession. Started off with what probably is a Tier-6 law firm today practically working for free, and moved amongst Tier 5/Tier 6 law firms and got additional qualifications before getting my break - and have blessed enough to be able to show that a non-law school (and non-law background) determined lawyer from a sub-par law school can consistently do (reasonably) well with the best in the profession. It is a marathon and not a sprint - if you keep at it and constantly innovate and improve yourself, opportunities will come to you. It may take days, weeks, months or even years- you will get your chances. Wait for them, and then grab them with the hunger and determination you have. Best of luck.
Batch of 2021
First up, you have not failed anyone. If you are a law student of a five year program, you are among the 8.15% of India's population who is graduate, and among top 1% who is fortunate enough to hold a professional degree like LLB. Congratulate yourself, because you have achieved much, and you are yet to graduate.
On top of all these things, you have graduated in the best time of our lives. There has never been a better time to be a lawyer, never has been a better time to be aspiring and to dream of a better life. There are opportunities if you have the patience and grit. Please put up a separate thread as a 'Job Seeker', and ask about what you can do, and I will clue you in on the opportunities available, as an entrepreneur, freelancer, writer, etc. among others. As someone who understands the legal job ecosystem better than most, I can lay out for you your game plan if you put in details on your background. If you put yourself out there for people to look up on your LinkedIn, I am sure you will receive constructive remarks, negative maybe, but constructive, that can help you better yourself and get what you want. This is better than wallowing in self-pity.
Having said that, let me highlight that I come from a private law school. I lacked polish in language, conduct, background and made it up with hustle. I hustled for myself and I hustled for my batch mates and juniors to get ourselves a break in India's corporate firms. But I also witnessed. I witnessed that none of the students in my batch who wanted to work for someone, were without work. I am talking about a sub-standard private law school. Everyone who wants to get work, gets work. Do you know what consistent cry is accross legal chambers, law firms, in-house departments? - We do not have good talent, there are no good lawyers available. The demand is there, making the supply expensive. This is where you can think about coming down from the high horse, figuring out a interest area related job and jumping into the work. Few of my batch mates of 2019 who started jobs at 20-30K (scored at an average of 3-4 months after graduation) now make moderately well between 1 lac and above. They jumped into their interest areas, put in hard work, made themselves indispensable and developed acumen.
Don't worry about money, money will flow with dedication and hard work. Impress the right mentors, impress them with your skill, creativity, zeal and hard work. Worry about whether at the end of ten years in this profession, will you be able to look back and say - 'Cheers, I lived my dream?'.
[i]At an average you have 40 more years of work ahead of you, pace yourself, don't loose hope in the short term only to loose in the long term. Cheers.[/I]
A0: 1.2L/month, 1.2L (bonus)
A1: 1.3L/month, 2.5L (bonus)
A2: 1.45L/month, 5L (bonus)
Obviously, deduct 10% TDS on every figure for in-hand amount.
Contract said no bonus till 2022
Corp team
A0 - 30K per month (upto 2 months of pay as bonus possible but don't count on it)
A1 - 45K per month (upto 2 months of pay as bonus possible but don't count on it)
Bangalore (Corporate):
A0 - 40K per month (upto 2 months of pay as bonus possible but don't count on it)
A1 - 50K per month (upto 2 months of pay as bonus possible but don't count on it)
How much does it vary across cities or teams? How much do partners make there?
Any idea about salary at Link Legal
ELP data in not available anywhere.
Thank you.
Fixed- 1.25*12
8%-5 lakhs (this is the game changer. If you bill a crore a year, you get 8 lakhs)
Bonus -4 lakhs
Total- 23.8 lakhs
(due to covid, the firm did not have the annual retreat but that is another 1.5 lakhs towards you by the firm)
For A3, add another 2.2 lakhs a year
what about the pay?
Esp. considering they're hiring rn.
Would love to see some input about their work environment.
ELP - No Idea.
What about good paying tier 2 firms?
Anyone knows what the pay's like in tier 1 firms for IP teams?
Annual retainer (post September 2018 increment) INR 47.40 lakhs.
Bill share @ 10% tied to recoveries and proportion of hourly billing (Forex vs. Locex) versus fixed fee assignments.
Bonus capped at INR 8 lakhs and actual tied to recovery of at least 2.5X, plus kissing the EP’s arse (which I never did). On a two years’ average, between INR 4-5 lakhs.
If you worked for Bombay Baniya, the lucrative nature of your assigned work and compensation largely depended on how malleable and moisturised your lips were. And yes, size did matter, north of the equator.
SA 1 - 13 LPA fixed + 20 LPA variable (5% of billing)
I do feel that I let my feeling get better of me and wrote something irrelevant here. however, nice of you and others to not feel annoyed by it rather took time to instill a ray of hope in me difficult times of my life. I do feel this perhaps very good for someone to take time out of life to explore different things and ideas. As many of the Normal law school kids do not get such disposable time with them, unlike them I come from laid back college like GLC which has provided us a good amount of time to explore different paths and ideas. while I did like the whole idea of the way GLC operates but ideally for me my last 2 year of law school was very important for me to focus on career after coming to the full circle of finding what suits me or not but as the faith would have it nothing went like the way I hope.
but let me admit the positive outlook that is embedded in your vision makes me go one more mile ahead, once again. I was staying afloat, looking for opportunities on every job desk board like Linkedin and others, still having to find nothing at the end of the day. I still try and try, look and search for it. not that I would stop but positivity in me has taken a hit. I do agree ma'am/sir that I should be open to more non-conventional work as well but as you tend to move ahead in your life you get more averse to trying something new. But taking a leaf out of your wisdom. I will put a separate post like that to learn new things and ideas to help myself and others who may be traveling in the same direction but at different horizons.
Also, I wish I had a mentee like you to be the guide that everyone needs.
will look for you there on the new post to help me more.
Thank You!
I came here to anticipate my son's fate. Passed in 2019, placement cell sent him to Mulla House (not mulla and mulla cb&c), now with 2y 5m will appear at the final interview in a Tier 2 tomorrow.
Found a lot of bad boys here, till I reached 37.1 .. your words were like a balm. No one knows and tells a non-nlu on how to prepare. Though my son's a doughty chap, (from a heritage college which gave India a few CJIs,) but is nowhere near like a creepy worm that I found here.
Thanks again "Let me help".
-- An anxious dad.