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JSA is the worst paymaster but the hours are same as other firms. They pay 1.75 at SA level, which is a joke given that they take 5PQE for SA instead of 4PQE. Is the firm taking people for a ride? So other firms pay better?
JSA makes SAs at 4PQE, not 5. If your EP waited for 5 then you should take it up with them.
The low fixed retainers are a misdirection; the bill share is where the real green lies. Work well and you could easily double/ triple your retainers each month.
I hope you are aware of the 8% bill share of jsa which is given to associates after 1 year of completion. If you are in a team that generates a lot of revenue. That is a great money.
The bill share is the most lucrative incentive amongst law firms in general (not restricted to JSA). Although this does depend on the team you are working with. In a high billing team, your annual retainer (including your bonus) as an SA could easily hit 45-50L . NGL. This was my experience working at JSA while being staffed on USD/GBP/EURO matters and long term high value INR transactions.

Unless you've worked at JSA or a firm that offers bill share as an incentive, the concept may seem a bit absurd. Also must tell you that you can forego the bill share incentive and increase your base pay. Its an option that you can negotiate.