Trilegal counsels also make around 70-75 lakhs. Even a cursory look at salaries will also indicate that it is upward of 1 crore or it is 1 crore. I know it's hard to believe but it is true. Tier 1's do pay this much. Minimum 80 L and maximum can stretch upto 2-2.5 crores. It is a known fact.
I personally know a few PAs at SAM/CAM and Khaitan as well as a few Counsels at Trilegal who made more than 70 Lakhs. How on earth are you suggesting that partners do not make more than 1 crore. They do. Of course not everyone does. Most partners in Corporate/PE/VC and high billing practice areas make more than 1 crore.
It's just stupid. Its not true. And if you really want to know then walk up to partner and ask him or her. I have. 1.5 is what top quartile of equity partners earn in tier 1. Salaried partners do not make more than 70 lakhs on average. Please if you entered law for money then leave.
Accurate, but would like to add that it can easily go upwards of 3.5 crores depending on book size, partnership structures etc. Ratio is not always fixed at 60:40 - can be 50:50 as well in some cases.
Mid Level Partner - 4-5 cr
Senior Partner - 5+ cr plus equity stake. Depends if they decide to put it back in the firm or not.
Guys, the number of hours you put in, and all the other opportunity cost for maintaining this career. Net Net you've been scammed.
Especially at the Tier-1 levels, wouldn't rely on their numbers at all.
partner in corporate makes around 1 crore