What you're saying is mostly true. It is difficult to get clients who would pay. And not just for the first 10 years; I know people with far more experience whose clients try to get away without paying.
I'd say for the first couple of years, don't expect any earnings at all. Do pro bono work, get noticed, get exposure. Plus, if you do well and make that client happy, he may refer more clients to you (whom you can charge). It's about building a network, really.
And yes, in 90% of cases, the only fees you'll actually get is what you grab before the case. So, if it's a bail application, don't expect anything after the hearing (if bail is granted, he has no incentive to pay you; if bail is denied, he would not want to pay you).
You will have to write a lot of them off, yes. As a tip (backed by my personal experience, more senior lawyers can probably correct me) - make sure those "bad debts" are also worth it. Either the case is good, gets you some limelight (and thus, potential future clients) or you're able to build a long-term relationship with that client in lieu of waiving the fee off.
Enough has been said and discussed on law firm salaries. But how much do juniors at chambers of advocates and senior advocates make? Bombay counsels are infamous for not paying their juniors even a single penny. The ones in Delhi do pay, but how much?
It is also interesting as per this report that at least a dozen senior counsels make over 1 crore a day. That makes for at least 200 crores a year (which is so much more than what any lawyer in the UK or US would make).
Please be clear about the financials before you plan to join a litigating lawyer or going independent. It would be a very tough decision to make, having done it myself in the last year. The journey would may be an ordeal if you are pressed for money. If you are the sole or one of two earners in your family, please ponder over the idea very carefully. The road ahead needs to be taken after weighing all considerations.
Of course, there is no intention to demoralise anyone, but the figures being quoted to seniors income are not really representative of an average litigating lawyer. The competition is cut throat and the MNCs do not really come to you. They would instead spend a bomb on a senior since a general counsel is made ccountable to the top management.
Lastly, there is nothing right or wrong; in a cosmopolitan city, where a bare survival alone needs 25, just chose your options financially. This is because all those claiming to get independent matters do so only after the first two to three years. Not every gets lucky right away and mind you, your senior's matters/briefs will take precedence over your matter.
Note: be game to forget personal and family life for the time you work with a senior. Since there is no leave policy as such, sacrificing personal space and time should be very okay to you.
What you're saying is mostly true. It is difficult to get clients who would pay. And not just for the first 10 years; I know people with far more experience whose clients try to get away without paying.
I'd say for the first couple of years, don't expect any earnings at all. Do pro bono work, get noticed, get exposure. Plus, if you do well and make that client happy, he may refer more clients to you (whom you can charge). It's about building a network, really.
And yes, in 90% of cases, the only fees you'll actually get is what you grab before the case. So, if it's a bail application, don't expect anything after the hearing (if bail is granted, he has no incentive to pay you; if bail is denied, he would not want to pay you).
You will have to write a lot of them off, yes. As a tip (backed by my personal experience, more senior lawyers can probably correct me) - make sure those "bad debts" are also worth it. Either the case is good, gets you some limelight (and thus, potential future clients) or you're able to build a long-term relationship with that client in lieu of waiving the fee off.
It is also interesting as per this report that at least a dozen senior counsels make over 1 crore a day. That makes for at least 200 crores a year (which is so much more than what any lawyer in the UK or US would make).
Of course, there is no intention to demoralise anyone, but the figures being quoted to seniors income are not really representative of an average litigating lawyer. The competition is cut throat and the MNCs do not really come to you. They would instead spend a bomb on a senior since a general counsel is made ccountable to the top management.
Lastly, there is nothing right or wrong; in a cosmopolitan city, where a bare survival alone needs 25, just chose your options financially. This is because all those claiming to get independent matters do so only after the first two to three years. Not every gets lucky right away and mind you, your senior's matters/briefs will take precedence over your matter.
Note: be game to forget personal and family life for the time you work with a senior. Since there is no leave policy as such, sacrificing personal space and time should be very okay to you.