Big4 - First year partner makes anywhere between 1.2 cr to 1.5 cr. However, it takes approximately 12 - 13 years to become a partner in Big4. Growth opportunities in a Big 4 is however
in Big 4: Tax Partner are upwards of 3cr( CTC) ( with equity) Consulting partners are around 1.5-3 ( depending on the tenure and how much business they get )
**so, do u mean ur CTS is 1cr+?
Dude oflate the scene is, partners in law firms are making more money than partner in Big 4s. Is this number true :
1st yr partner ( Non-Equity): 80cash+( 30-50lac variable ) ( no - upper cap) 2nd yr+ ( NonEquity) : 1cr+ cash + no cap on variable + profit percentage
in Big 4: Tax Partner are upwards of 3cr( CTC) ( with equity) Consulting partners are around 1.5-3 ( depending on the tenure and how much business they get )
they are also being promoted much sooner, making it increasingly top heavy and burdensome on funds.... good thing the foreign firms will poach most anyway
It may be what it is, but it is also most certainly and entirely false. There is no cap to the variable at AZB - in fact, you not only start off with a monthly of 4.5 to 5L, there is a fixed bonus over and above the monthly pay + plus a percentage of each invoice that is recovered, depending on whether you are relationship, supervising or executing partner, which can be upto 10% of said invoice, if you are all three.
Please stop spreading lies. Or maybe you got a raw deal. In that case, please speak to your senior partner.
Yes actually the non equity partnership is a sham, they are technically not partners in the sense of the term as used in big 4 etc., where it takes 14 15 years to do that. So considering that, yes law firms pay much higher that big 4 but not as much opportunities in the future.
I am a retained/ salaried Partner at a T1. Agree with the AZB Partner numbers. In my firm, for example, a P0/P1 would make 70-90 lacs a year. There may be exceptions (both ways, for bad billing/ high billing teams). The numbers otherwise being quoted on this thread for a new partner (non-equity) are incorrect.
At what stage ( yrs of experience ) does a partner in a law firm, become an equity partner > What is the salary breakup then ( Fixed ( range) + bonus ( range)+ equity ( vesting types) .
Data from a 2018 legally indis article on Khaitan's revenue
As of 11 April 2018, Khaitan’s total partnership strength was 127, including 91 equity partners, which at Rs 615 crore revenues would translate to roughly:
average revenues per partner of Rs 4.8 crores (around $685,000),
average revenues per equity partner of Rs 6.8 crores (around $970,000),
average revenues per fee-earner of Rs 1.1 crores (around $160,000).
These ratios are, of course, averages, so revenues earned by each partner and their team would vary.
Meanwhile, for equity partners, take-home profit distributions would vary year-by-year primarily on the basis of performance and amounts paid by way of retainer are primarily dependent on seniority.
Seeing from the comments posted in the present post by some "partners" it would seem that the packages they are telling as of 2023 seem to be lower than 2018 or it's depending on their team and seniority.
Either way we need more transparency by law firms in India to those their revenues .
Have even partner salaries stagnated over the years , not increased to reflect inflation? This is so messed up , so even in 2033 P0 will earn arround this much eh
These numbers are more or less right. However, a P0 at a tier 1 (AZB, SAM, CAM, KCO, Trilegal, S&R, JSA and IndusLaw) surely makes a minimum of 60-75 lakhs (taking into consideration cost cutting as well as bad billing months). In places like the ones mentioned above, there are numerous Principle Associates/Of Counsels making 55 to 70 lakhs but are denied entry into partnership due to the politics involved and other factors which boil down to billing. The road towards the top is filled with bumps so my firm opinion is to get 6-7 years of experience at the so called "Big 8" and then start a high value boutique Indian firm or cross the Indian borders to UK/Singapore/USA for better quality: work, people and lifestyle.
Finally, I have been saying for so long that in reality Khaitans is best if the Tier 1 lot....the pay is correct,work environment not as bad as CAM and Trilegal but not as good as SAM(same pats less than Khaitans)...so generally the best pick of workplace
Nehi yaar. It’s not technically plausible. And trust me majority of tier-1 nlu grads who got out of law school around the age of 24/25 didn’t clear gmat or cat.
Is this number true :
1st yr partner ( Non-Equity): 80cash+( 30-50lac variable ) ( no - upper cap)
2nd yr+ ( NonEquity) : 1cr+ cash + no cap on variable + profit percentage
Consulting partners are around 1.5-3 ( depending on the tenure and how much business they get )
**so, do u mean ur CTS is 1cr+?
Dude oflate the scene is, partners in law firms are making more money than partner in Big 4s.
Is this number true :
1st yr partner ( Non-Equity): 80cash+( 30-50lac variable ) ( no - upper cap)
2nd yr+ ( NonEquity) : 1cr+ cash + no cap on variable + profit percentage
Consulting partners are around 1.5-3 ( depending on the tenure and how much business they get )
Deloitte India / KPMG India ( both tax and consulting practice )
Partner at Azb.
We start at 4.5-5l/month + upto 3 months variable.
Please stop spreading lies. Or maybe you got a raw deal. In that case, please speak to your senior partner.
how much does a Y1: Law partner make ? ( Tire 1Firm )
Y1: Partner In Big 4 makes ( 1-1.2cr CTC)+Equity
Not in the case of Big4. They consider one's merit.
This question is for all Partners who are reading
As of 11 April 2018, Khaitan’s total partnership strength was 127, including 91 equity partners, which at Rs 615 crore revenues would translate to roughly:
average revenues per partner of Rs 4.8 crores (around $685,000),
average revenues per equity partner of Rs 6.8 crores (around $970,000),
average revenues per fee-earner of Rs 1.1 crores (around $160,000).
These ratios are, of course, averages, so revenues earned by each partner and their team would vary.
Meanwhile, for equity partners, take-home profit distributions would vary year-by-year primarily on the basis of performance and amounts paid by way of retainer are primarily dependent on seniority.
Seeing from the comments posted in the present post by some "partners" it would seem that the packages they are telling as of 2023 seem to be lower than 2018 or it's depending on their team and seniority.
Either way we need more transparency by law firms in India to those their revenues .
Cam- 1.2 cr. 70 fixed. Rest variable.
Trilegal- 1.5 cr. 80 fixed. Rest variable.
Sam- 1.3 cr. 75 fixed. Rest variable.
Khaitan. 1.8 cr. 1 fixed. Rest variable.
Above are the numbers for P0/P1/P2. Anything other than this, with incoming foreign law firms isn't legit. Trust these numbers.
GMAT is still better..