Two important stats - In the global 200 league there's no indian law firm. Even the 200th firm rakes in 200m rev (about 1500 crores). Not sure even scam does more than 1000 cr. Second, avg revenue per lawyer is 800k to 1.2m in the list, or about 6-10 cr. While kco reported 2019 article shows 1 cr in india. Could be 1.5 cr by now. Just imagine, apart from the equity guys, on all levels we get paid 4-6 times less. While in all other fields like tech, finance, consulting, I think this ratio does not go more than 2.5-3 times. They've suppressed incomes because of oligopoly in a closed market with no global competition. If JP Morgan, Morgan Stanley, Goldman Sachs, Citi, Mck, BCG, Bain, Kearney do finance and consulting why can't Krikland, White and Case, Sidley, A&O etc operate in india. The global clients will flock immediately, even top notch indian ones will, they already use they guys in cross border work and are well aware with global advisory firms in finance and consulting.
Open up the bloody sector to American firms If they can do consultancy, auditing by proxy, be in defence, insurance, banking what is so great about law Please don't make us drive shitty bajaj scooters of 90s in the era of tesla
Seems like an interesting article, but can some kind soul post a non-paywalled version of this? Perhaps OP? Cannot read it past the first paragraph even with 12ft.io.
https://www.yumpu.com/en/document/view/67043170/will-indias-new-era-sever-its-old-power-structures-law-gov
https://lawgov.org/law-firm/will-indias-new-era-sever-its-old-power-structures/?unapproved=30&moderation-hash=244b78daa13060f610aaddd5cfc9ab51#comment-30
@R - is it possible to edit the original post to add this link?
https://lawgov.org/law-firm/will-indias-new-era-sever-its-old-power-structures/
@R is it possible to edit the original post to add this link to it?
In the global 200 league there's no indian law firm. Even the 200th firm rakes in 200m rev (about 1500 crores). Not sure even scam does more than 1000 cr.
Second, avg revenue per lawyer is 800k to 1.2m in the list, or about 6-10 cr. While kco reported 2019 article shows 1 cr in india. Could be 1.5 cr by now.
Just imagine, apart from the equity guys, on all levels we get paid 4-6 times less. While in all other fields like tech, finance, consulting, I think this ratio does not go more than 2.5-3 times.
They've suppressed incomes because of oligopoly in a closed market with no global competition. If JP Morgan, Morgan Stanley, Goldman Sachs, Citi, Mck, BCG, Bain, Kearney do finance and consulting why can't Krikland, White and Case, Sidley, A&O etc operate in india. The global clients will flock immediately, even top notch indian ones will, they already use they guys in cross border work and are well aware with global advisory firms in finance and consulting.
Can someone also mention what's written in the article please?
If they can do consultancy, auditing by proxy, be in defence, insurance, banking what is so great about law
Please don't make us drive shitty bajaj scooters of 90s in the era of tesla
The 'Owners' of all but one firm have spoken more honestly than they usually do. One did not respond to request for comments for obvious reasons.
[Edit: Link added on request https://lawgov.org/law-firm/will-indias-new-era-sever-its-old-power-structures/?unapproved=30&moderation-hash=244b78daa13060f610aaddd5cfc9ab51#comment-30 ]