Trilegal has made an announcement to increase its retainer pay and performance based pay in light of the firm’s exceptional performance past year. Although the exact figure has not been disclosed yet but the decision has been taken by the management committee.
Trilegal just revised their A0 salary by giving a huge hike. Their starting salary package is now around 19.5L, with about 16.5L fixed (from a previous 14.4+2.2 structure). This probably puts trilegal at the top of the paymasters among tier 1s.
Is there any chance that CAM, SAM, KCO, and the like follow suit? Else it is a huge disappointment for all the A0s that opted for other firms during day 0.
A2 This side. All lawyers’ bands have been revised. The hike for A0s has already been covered in the thread (though I doubt the 3 lakh bonus is guaranteed - it will be prorated for 9 months and in my opinion should also depend on partner rating).
In a novel step, each lawyer has been told in their retainer letter as to how much they stand to make at different performance levels (below expectation (“BE”), meets expectation (“ME”) and exceeds expectation (“EE”)), in addition to the fixed retainer (“FR”). I am mentioning numbers for A1, A2, and A3 levels below but please note that these numbers are lawyer specific and depend on their previous year’s rating as well. All figures in lakhs and pre-TDS.
A1 - 18 FR + [2.85 (BE) / 3.35 (ME) / 4 (EE)].
A2 - 21 FR + [3.57 (BE) / 4.2 (ME) / 5 (EE)].
A3 - 25.5 FR + [4.97 (BE) / 5.85 (ME) / 7 (EE)].
These increased bands are applicable with retrospective effect from 1 April 2023 so everyone who received arrears yesterday got a nice surprise.
PS - I am not aware of SA level pay and not in a position to source these either.
Thoughts?
Is there any chance that CAM, SAM, KCO, and the like follow suit? Else it is a huge disappointment for all the A0s that opted for other firms during day 0.
In a novel step, each lawyer has been told in their retainer letter as to how much they stand to make at different performance levels (below expectation (“BE”), meets expectation (“ME”) and exceeds expectation (“EE”)), in addition to the fixed retainer (“FR”). I am mentioning numbers for A1, A2, and A3 levels below but please note that these numbers are lawyer specific and depend on their previous year’s rating as well. All figures in lakhs and pre-TDS.
A1 - 18 FR + [2.85 (BE) / 3.35 (ME) / 4 (EE)].
A2 - 21 FR + [3.57 (BE) / 4.2 (ME) / 5 (EE)].
A3 - 25.5 FR + [4.97 (BE) / 5.85 (ME) / 7 (EE)].
These increased bands are applicable with retrospective effect from 1 April 2023 so everyone who received arrears yesterday got a nice surprise.
PS - I am not aware of SA level pay and not in a position to source these either.