We all know about what is the pay structure of Tier 1 law firm at every level but what is the promotion and pay scene after 5-6 years in in- house counsels like what they earn after PQE 6-7 when they are their from first day of their job. Especially those who join fresh after college in ICICI Bank etc. What they make 6-7 years down the lane.

BUMP

Please add working hrs too, specifically focused on ICICI, I've heard their pay is North of 12lacs?

Icici is one of the best in house positions, they were paying sth around 15L this year

Really because I heard it is around 9 lac

How many freshers do they hire each year?

Also can you tell the pay scene after 6-7 years

Around 27Lpa

Work life balance hai thik thak?

Can somebody please tell about it

Can an in-house counsel make 50lakh+ after 10 years when he started also as an in-house counsel and not shifted from law firms.

yes, this is very common, especially in MNCs

Does MNC hires freshers and can we go after being an in house counsel at some other company or by joining a firm first it the way

Yes, if the "house" is large enough, and you are important enough to it. This is before 35-40% tax, though. Focus on ESOPs, not only on salary.

Nobody is taxed at 35-40%? Kaha se bhai? Effective tax rate until 35-40L is still 25-27% - not even 30%. Even once you're above 50L, the tax rate literally cannot be more than 32-3%.

In respect of ESOPs, a lot depends on the terms of the ESOPs and how they're structured. For vanilla ESOPs, do you know how to calculate the intrinsic value of your company? If the answer is no, then accepting and exercising ESOPs (especially when you have to pay a grant price) isn't worth it - or is at best a shot in the dark. You'll be out of pocket with WTH tax before you can sell them, unless you get to exercise and immediately transfer in a liquidity event.

Which all houses are such. Can you tell