On senior partner, I think that may be high. I’d say: - someone like ashwath, 50 to 60 crores - someone like raghubir or gautam saha or reeba, 30 to 40 crores,
all numbers being net worth and including value of primary residence less debt. Most of the senior partners of today have started earning really big annual numbers only in the last 5 years or so, and will lose a fair chunk of that to tax and expenses.
However, no idea why people keep working once they hit these numbers (or continue working at the same level of intensity). Once I hit 30 crores (haha), I am ouuut. 10 crores for a decent flat in mumbai/delhi or a great house elsewhere, and 20 crores in a mix of fds and investments generating a >10% yield p.a on average. Let’s go!
This was done by Akshay Jaitley, founder of Trilegal, who moved to France. As the son of Jaya Jaitley, I guess he also had considerable family wealth. Absolutely sensible decision by him. Those who continue working after making so much money are either crazy or have an unhealthy obsession with money.
Akshay Jaitly is a fantastic man. Interestingly he did not have considerable family wealth - his father was an IAS officer who was sent to J&K as Chief Secretary during the heyday of militancy - his policies were known to have brought about considerable change in the valley and resulted in a fall in militancy. He was considered to be quite effective, straight forward and honest at the same time.
With kind grace of parents and own endeavors (not wasting legacy and adding to it, albeit slowly), already have it.
I still work - I imagine that if I had another corpus of 15 crores, what I earn from the law firm would tantamount to the interest which a bank would give me.
So still in the profession for another 5 to 6 years. Once over 50, will leave and enjoy life.
Doesn't matter if net worth is high.These Managing partners are stopping millions in legal industry from progressing by stopping foreign law firm entry for their own selfish nepotistic gains.They will not survive one month after foreign law firms enter India.
Majority of this known people derive their income outside of law practice, like business partnerships, venture investments, commercial rented properties etc.
Managing partners of other Tier 1 firms - 100-200 cr
Managing partners of Tier 2 firms - 50-100 cr
Senior partners - 20-80 cr
Junior partners - 10 - 20 cr
Any views / insights?
- someone like ashwath, 50 to 60 crores
- someone like raghubir or gautam saha or reeba, 30 to 40 crores,
all numbers being net worth and including value of primary residence less debt. Most of the senior partners of today have started earning really big annual numbers only in the last 5 years or so, and will lose a fair chunk of that to tax and expenses.
However, no idea why people keep working once they hit these numbers (or continue working at the same level of intensity). Once I hit 30 crores (haha), I am ouuut. 10 crores for a decent flat in mumbai/delhi or a great house elsewhere, and 20 crores in a mix of fds and investments generating a >10% yield p.a on average. Let’s go!
Source(s): https://indianexpress.com/article/india/india-others/former-jk-chief-secretary-ashok-jaitley-passes-away/
https://www.outlookindia.com/website/story/tony-jaitly-champion-of-kashmir/294845
scandal and jaya jaitley
Whatever happened to her?
I still work - I imagine that if I had another corpus of 15 crores, what I earn from the law firm would tantamount to the interest which a bank would give me.
So still in the profession for another 5 to 6 years. Once over 50, will leave and enjoy life.
When you say you’re likely done with work after 50, is that by age or savings (crores)?
Great stuff, in either case, and all the best with getting to your destination!
Zia and her husband 5000 crores
Luthra 1000 crores
Managing partners of tier 1 firm 500 crores
Managing partner of tier 2 firm 100-200 crores
Senior partner 100 crores
Junior partner 50 crores