Rumours are now floating in CAM, possibly spurred by the “smaller platform’s” recent pay hike, that CSS is looking to rein in attrition by executing an across the board hike that will make it the best paymaster amongst T1s for the first time in existence (we’re talking 2L per month for A1 pre TDS). HRs have been told to begin the review process with partners. Who else has heard this?
I dont think they would do that. A1s already get around 14.5 lpa at CAM and to increase it to 24 would be mad unless this is the variable component being increased. I did hear that the Annual Day function on August 7 will bring with it a pay increase announcement.
lol so now CS will blame it on HR for delaying bonus and increments by a couple of months citing HR and partners are reviewing the performance jazz....if the increment is going to across the band then what is to be reviewed is beyond my understanding
Buddy I think the only review they’ll be doing is to determine what the financial outlay will be. No point in racing to beat the competition when there isn’t enough nitrous to push you through.
Jokes aside, inter se Tier 1s, talent keeps shifting and the only way to edge out the competition is to be the best paymaster, no matter what other principled notions you have about quality of work etc. Corporate firms will attract talent if they’re the best paying firm, corporate clients will go to the firms with the best talent and the most reasonable fee.
If India needs to compete with foreign law firms and prevent talent from looking abroad, the only way is to pay those fat pay checks to attorneys like the Americans do.
I doubt if sal is going to be 2L at A1 levels....all big talk......desperation to stop attrition......the "benchmarking" exercise is basically to see who do we need to retain......so ppl expecting across the board hike,doesn't look like that going to be the case
Increment is not across the board, if it was there would gave been a firm wide announcement.Its just a gimmick of announcing it as retainer hikes in Bar and Bench to get publicity, just like last year's hogwash WFH policy.Basis such publicity the firm can proclaim itself as leader and lord of entire legal industry.
Yeah, sounds super unrealistic. With that sort of hike, an SA1 would make 48lpa just as retainer, with bonus bringing it up to 58?! No way CAM can afford that. Most law firms have a simple multiplier based target, what SA1 can even hit 2x with a 58lpa annual pay?
Hopefully never, I don't want a publicity stunt in the name of my increment and be not told officially about it.How the retainers of CAM are just quiet and tolerating this is beyond my understanding.I just don't get it, how can the firm management refuse to officially announce or answer retainers on the hike.
On a serious note, CAM is very smart when it comes to marketing. They will give one A1 a 2 lac package and rest all 1 lac-1.2 lac. Don’t fall for this guys.
Don't take offence people, but just a thought experiment.
What if CAM gives the following proposal (it might be a little illogical but you never know with law firms) :
(i) Fully vaccinated individuals choosing to WFH will get the normal increment (which they get according to current standards), in case they choose not to relocate to their base location for a WFO or hybrid working model. The logic may be anything - availability for client meetings since the lockdown restrictions are slowly opening up or just to see everyone's faces.
(ii) People will get 'more than usual / Trilegal standard' hike only if (among other factors like performance, ratings etc.) they agree to remain available to come to offices whenever asked to.
Of course, there could be a few exceptions to these general rules. But if given an option, would be interesting to see what option associates choose. Please share what you will prefer within this setup.
Good on Tri to start this but a substantial Hike beyond Tri is much needed and dare I say, deserved. Tri hiked 4% after 5 full years (atleast according to what we've seen on LI for A0s). These 5 yrs have seen a much more significant increase in both client rates as well as dollar valuation. Other than Tri lawyers, noone knows if there was a better hike at other positions or the extent of it. It's possible this information is also not available because the hike was coupled with annual increment. So you need to know what your immediate senior was earning to calculate what the actual hike was and what portion is your annual increment.
I'm sure firms can do better than 4% after 5 years and maintain good profitability and the "bigger platform" will pave the way ahead. Welcome wage wars, we love you.
When they will open physical offices, people are going to just quit...Now lot more exit emails will follow...Hike or no hike (BB got an official release but not the retainers, retainers can't even ask questions).CAM truly does believe if 1 will go, ten are waiting in line.But what happens when 100 go?are there 1000 good enough in that line?
What are you smoking bro, I am a CAMmie and I hope there’s an increase, but 2L for A1 is insanity and not sustainable. Even SAs don’t make that now. CAM is the largest firm, remember, so it cannot really afford to be the best paymaster unless there is steep differentiation. Will be an interesting time for sure this year but this figure just reeks of standard BS gossip.
How the bigger platform or firm was forced to make hikes because the "smaller platform" had taken lead in the industry in giving hikes......this one is really good for the history boks....still CAM will call itself the "leader". All those expecting some massive hike are heading for disappointment,need to get real.
Here’s a question. You’re in CSS’ shoes. You want to rejig the pay structure such that Associates are happy but it doesn’t also affect your bottom line. What would your ideal pay levels be? (With bonus). Here’s my take:
A0: 1 L pm + 1.5 L bonus A1: 1.5 L pm + 2.5 L bonus A2: 2 L pm + 4 L bonus A3: 2.25 L pm + 5 L bonus SA1: 2.75 L pm + 6 L bonus SA2: 3.10 L pm + 7 L bonus PA1: 3.5 L pm + 8 L bonus PA2: 4 L pm + 10 L bonus
This is just a hypothetical situation. Does anyone have any other realistic pay levels?
For me, ideal would be to make bonuses dependant on billable hours and give percentage values. Fixed component for A1 to A3 would range from 20 to 36 LPA but the bonus would be the same for all, ie 10% of billable hours with a target of 3x of CTC. Thus, bonus would be 6 to 10.8 for Associate level.
I can confirm that there is likely to be an increase this month at CAM but 2 lakhs for A1 is ridiculous. Sure, it would be a disruptor but you can’t have disruption at the cost of viability. Let’s say there will be the usual increments this year. Don’t think it will be a Trilegal moment but something is better than nothing as CAM has had a good year.
It's much better to be part of "smaller platform" that doesn't make retainers beg for increment.Its pathetic to see how a Tier 1s retainers have to wonder for themselves during a pandemic to get increments.Even after the mass exits, this management has no respect for it's retainers and doesn't deserve them.Feeling sorry that lawyers are getting treated in this fashion.
Reading this conversation makes one glad to be at smaller platform, than a bigger one where you wonderwhether increments or hikes will happen.its sad, like a scam situation.
Generally I view as the fault of the retainers who put up with so much shit from CAM....so the firm keeps doling out bad treatment.......but this time I feel truly sorry for these guys.....its pathetic how the firm announces publicly about hikes but doesnt communicate to retainers the break up of hike between fixed, bonus......this one by the firm crosses the line,it's almost nasty treatment to play such games with your retainers who are waiting for official announcement of hike
Seriously Trilegal is superb.Gives extra month bonus and hikes without making the retainers feel like they are too "small" to matter.Trilegal was and is a big GREAT platform because it's a platform that treated its retainers with respect.
Of course but what is so wrong about that. With proper precautions and after everyone has had two doses of vaccines, all offices will try and reopen. To be honest, WFH is not a real substitute of WFO and that is true for law firm as well. There are many skills which the next set of associates will never learn just by sitting at home. Yes if situation doesn't permit, WFH is the only solution. And whenever situation permits, office will need to open and again close when situation deteriorates. This is part of how to learn to live with this disease.
Can someone who is attending the meeting today confirm if compensation for A0 (16LPA) inclusive or exclusive of Bonus?
A0s were anyways paid 15 lpa the last year. Does that mean only 1 lpa rise for A0s? Also, the very next year i.e. A1 stage rise is of 5 Lakhs. Straight aqua from 16 to 21 LPA. Possibly, bonus has not been added for A0s in the salary structure.
So the numbers above reflect the upper end of the band. For instance, SA1 range is 32 to 42. Therefore, ppl think before u decide to stay back/join CAM.
No one from CAM, except maybe CSS, can update about the break up of the hike because in CAM hike has not been announced officially only.Maybe you can write to Bar and Bench, CSS might give them the break up because he has refused to take any questions from CAMs retainers and associates
CAM is doing annual day right now with CSS and chief guest [...] each other.
CSS has not announced pay hikes internally and has refused to take questions on it right now. How messed up is it that CSS decides to randomly announce pay hikes to the market without telling its own retainers? How deluded is that? Flabbergasting
true this is really goes on to confirm that no matter what they announce to the world nothing really changes in this family run business...just like their crappy dynamic policy
CSS is basking in limelight announcing "BUMPER" hikes to market.... and here the retainers are wondering what is the break up of fixed and bonus in this "bumper" hike because they have not announced it within the office.........something smells.. SCAM?.........like the awful pomp on that wfh policy that turned out as hogwash....Oh SCAM.oops CAM....give it up....smaller platforms are winning....
Talk about bad treatment, to refuse to answer the retainers questions or "discuss" the hike break up is to treat your retainers like they don't matter at all.......have a bad feeling this hike is going to be just like CAMs wfh policy announcement - lot of glitz and finally a flop show.......had thought the hike is to retain the current associates ....its more for recruiting associates possibly because of the high attrition .......the big announcement publicly in news but no "discussion" internally
Only want to buy more apartments in worli. Publicity stunts is the new cool with chands. Where their support staff and lawyers sit with 5-6k hikes even after the WFH trauma.
Were the hikes announceed in B&B a reaction to "smaller platform" Trilegal pay hikes or a publicity stunt to stop/slow-down the attrition or is there really a bumper surprise hike for CAM retailers?CAM rushed to announce pay hikes in B&B possibly to stop or at least slow down the great no of attention/exits the firm might be seeing.Or maybe, the hikes are not effective until next year or some such catch.Anyone got official info or update?
The retainers are bugged on not getting clarity on the hikes.No one is ready to answer hime related questions.Lolz.Look like at this rate the only large thing CAM is heading for is LARGE Retainer-LESS offices.Lolz.
no nothing .... there is dead silence on this matter within the firm ... people are not discussing it even amongst themselves because perhaps everyone knows that it was done for publicity which they already got via B&B
I think retainers àt CAM should stop inquiring with LI about update or break up of hike.How will anyone here know if you being in firm also don't know.Gather up some courage and ask your senior or principal associates and partners.Maybe they also dont know.If it' not announced internally maybe it's not for current retainers and the hike maybe an incentive applicable only for those who join CAM now given the high attrition that has taken place
This is damn stupid logic that the new hikes will only be offered to laterals. So in essence an SA2 lateral will be making more than PA1 homegrown? Seems illogical.
It's called "Commercial" logic.when come appraisal time you wiL ask for increased bonus and will be told who told you to assume the increment applies to you because we never announced it in office, it won't seem logical at allowts talk then and see how well that logic sits with you.
SA/PA also don't know...thsts funny as hell....this firm is announcing hikes in legal news section and SA/PA also don't know......I feel for the CAMsters but really this is funny.......a bunch of employees who don't know their hike because the firm is hiding it from them.............lolz
There's the catch.Who knows who got retainer hike or not and how much when you make it "individual letters" and not official open announcement.I am convinced that its not a pay hike across retainer bands,it's a regular increment or appraisal exercise being shown as retainer band hikes,maybe to stop attrition or to show down "smaller platforms" who announced OFFICIALLY across the board hikes.If it was a hike across retainer bands there would be an official an announcerent IN THE FIRM.And "confidential", a Joke.The purported retainer band hikes were announced in Bar and Bench first and were then not announced in the firms town hall.
Hahahah why would you do this to people? Non-sense. Don’t believe this guy the sole reason being his name “happy cammie” happy and cammie doesn’t go together.
Do your work diligently. Tell your Partner to meet the targets rather than just mooching off of those who actually do work and bring in business. Then you will also get. A sense of entitlement gets you nothing!
Jokes aside, inter se Tier 1s, talent keeps shifting and the only way to edge out the competition is to be the best paymaster, no matter what other principled notions you have about quality of work etc. Corporate firms will attract talent if they’re the best paying firm, corporate clients will go to the firms with the best talent and the most reasonable fee.
If India needs to compete with foreign law firms and prevent talent from looking abroad, the only way is to pay those fat pay checks to attorneys like the Americans do.
On a serious note, CAM is very smart when it comes to marketing. They will give one A1 a 2 lac package and rest all 1 lac-1.2 lac. Don’t fall for this guys.
What if CAM gives the following proposal (it might be a little illogical but you never know with law firms) :
(i) Fully vaccinated individuals choosing to WFH will get the normal increment (which they get according to current standards), in case they choose not to relocate to their base location for a WFO or hybrid working model. The logic may be anything - availability for client meetings since the lockdown restrictions are slowly opening up or just to see everyone's faces.
(ii) People will get 'more than usual / Trilegal standard' hike only if (among other factors like performance, ratings etc.) they agree to remain available to come to offices whenever asked to.
Of course, there could be a few exceptions to these general rules. But if given an option, would be interesting to see what option associates choose. Please share what you will prefer within this setup.
I'm sure firms can do better than 4% after 5 years and maintain good profitability and the "bigger platform" will pave the way ahead. Welcome wage wars, we love you.
Is that so?
A0: 1 L pm + 1.5 L bonus
A1: 1.5 L pm + 2.5 L bonus
A2: 2 L pm + 4 L bonus
A3: 2.25 L pm + 5 L bonus
SA1: 2.75 L pm + 6 L bonus
SA2: 3.10 L pm + 7 L bonus
PA1: 3.5 L pm + 8 L bonus
PA2: 4 L pm + 10 L bonus
This is just a hypothetical situation. Does anyone have any other realistic pay levels?
It might be 17 also but that we will come to know on 7th August
Anyways, you will come to know about this tomorrow
A0 - 16
A1 - 21
A2 - 26
A3 - 33
SA1 - 42
SA2 - 50
PA - 60 to 80
Partner - 30% more than last year
Now let’s see what’s the break up between fixed and variable. That will be the real thing to find out.
A0s were anyways paid 15 lpa the last year. Does that mean only 1 lpa rise for A0s? Also, the very next year i.e. A1 stage rise is of 5 Lakhs. Straight aqua from 16 to 21 LPA. Possibly, bonus has not been added for A0s in the salary structure.
Someone please confirm, thanks!
Yipeeeeeeeee
CSS has not announced pay hikes internally and has refused to take questions on it right now. How messed up is it that CSS decides to randomly announce pay hikes to the market without telling its own retainers? How deluded is that? Flabbergasting
Disgusting.
Well done scamieee. You win a gold too
1. wfh or wfo? if wfo then from when?
2. exact fixed+bonus figures?
3. effective from when?
Also, not even SA/PAs know.
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-HR DEPARTMENT,CAM