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How much do they differ from tier 1?
However bumper the profits may have been, these figures seem absurd.
At senior levels, bonus component varies between 15-40% of your total comp, depending on the firm.
Usually At the A0 mark in tier 1-
13- 15L
A1- 14-17
A2- 15-19
A3- 16-20
A4-20-25
SA1- 27-30L
SA2- 32-38L
SA3-42- 48L
PA-1 50-56L
PA-2 54-62L
RP- 60-80L
Up unto the PA level the bonus amounts out of the above range from 10-20% until the SA levels and 25-30% at the PA levels. Of course some firms let you negotiate and take up more of the monthly take home rather than loading up your bonus but broadly at the A and SA levels, you can expect to neogtiate a maximum of 10-15 as bonus and let the remaining be loaded on to monthly take home and at the PA levels max 25%.
The above figures are mentioned on the basis of where I am in my own career (PA-1) and my tier 1 partner is pretty open to me about who makes what in order for me to ascertain their worth.
Equity: Not been through that but safe to say above 1cr and will all depend on the what you kill for the firm.
Base pay most likely remain 10% for all. Though it will likely be higher for A3 to SA transitions and all above that - for obvious reasons.
Also, is the 10% increment standard or does that vary i.e. is it on the higher or lower end of the spectrum?
A1s and A2s got roughly 10% hike in monthly - 1.21L and 1.33L respectively. However, due to bumper profits, TL gave all its lawyers 1 extra month salary apart from bonus payout. This resulted in monthly salary X 13 + bonus (which were also bumper) - making it a total touching almost 20L for some A1s and around 24/25L for A2s .
All figures quoted above pre-tax. Can be different based on office/practice area/team. For 2021-22 TL usually announces increments in July end which are effective retrospectively from April with arrears.