I have been luthra for sometime now. One thing is for sure, it's surely doing really well. From what I hear and see, they are getting BIG rates now, haven't compromised on rates (something which kco always does). It will be back at the top very soon I guess. If it could only match Trilegals pay or atleast increase more
I'm at Khaitan and we lost a mandate to LL because they undercut our discounted lumpsum fee by 45% according to the client. They're not getting big rates across the board.
If you're from tier 2/3/x city, you should think beyond moving to mum/del/ban. Chennai seems to be lucrative. Industrial state, has a lot of trade going on. Except local litigation, everything will have English variants. If T1s pay even with somewhat parity, Chennai can be good
Trolls aside. The city of Chennai has long been the last frontier for Bombay firms. Heavily guarded by local practices, it is a gold mine for law firms with a great practice potential for Corporate commercial deals, Disputes, Real estate and banking & finance. A city that is regarded as the banking capital and Detroit of India, it is somewhat sad that it took lala firms so much years to set base in Chennai. Shows the competency of the local lawyers in Chennai. Whilst lala firms have struggled in Hyderabad due to a sluggish law firm market, Chennai has always been a lucrative market but unable to cash in due to stiff competition from local practices. Then there is always the stigma of the anti Hindi perception which is untrue as far as Chennai is concerned due to the presence of a sizeable north population living there due to IT and Central govt headquarters for South India. Chennai has an excellent city transport infrastructure and can be an alternative for folks who are fed up with the traffic situation in Bangalore. Also, with a more diversified economy that includes the Saas Capital of India, the first choice for MNC's to open their GCC's, industrial centres that woo investors like Foxconn, Apple etc alongwith the usual IT industry, Chennai can be an excellent city to bank on for tiered law practices that have long been vying to build up a successful practice in Chennai.
You look at Chennai legal market - it's practically impossible to break in for a national practice or any pan India tier 1 or 2 firms.
But it is very lucrative and attractive.
Amarchands tried best - and they could never suceed in Chennai. Like they did in Bangalore.
Khaitan? Chennai office is basically a Local Tamil law firm called Assentio Legal. It's more like an association than a real office.
JSA had a presence but it's mostly Chennai local lawyers who joined them. Recently CLA (A local corporate law firm) joined JSA in Chennai.
LKS is the only national practice with a good Chennai presence that's because LKS Management is fully Tamil. LKS is a Tamil firm.
Chennai legal market will continue to grow forever. But only Tamil Nadu lawyers can work. National practices can maximum have associations.
One big reason is Language AND Culture.
If you look at any tier 1 firms Bangalore office - people from across the country that too from TOP tier national law universities work.
In Bangalore tier 1 offices - hardly any kannad (local language) is spoken it's mostly English and Hindi and less than 30% of people are kannadi people. Most are from south india but you can see a lot of people from north.
But if you go to Chennai - 90% lawyers are from Tamil Nadu. Maybe few Kerala or Andhra people (even they will be born and brought up in Chennai) will be here and there. Language of business is also mostly Tamil.
You would not see top NLU folks working in Chennai law firms (compared to bangalore) Mostly Chennai law firms, they hire from Sastra, GLCs in Chennai and nowadays from NLU in Tiruchirappalli. Bangalore teams hire from across the country. Chennai teams - rarely outside these three law colleges.
Chennai corporate bar is a local bar. It's not diverse. For someone from outside it's really difficult to make a legal career in Chennai.
I have seen lot of bengalis, up walas, Rajasthanis becoming top corporate lawyers (in house and firms) in bangalore. Without even knowing the local language. But have never seen the same in Chennai.
Many Chennai companies outsources corporate legal work to Bangalore, Mumbai firms.
Chennai as a city has a lot of future. But if you are a national practice or non Tamil looking to establish yourself it's hard. Not impossible.
Everyone does this undercutting business.
Also any leads on the partners in hyderabad and bangalore for corporate?
PQE 3
But it is very lucrative and attractive.
Amarchands tried best - and they could never suceed in Chennai. Like they did in Bangalore.
Khaitan? Chennai office is basically a Local Tamil law firm called Assentio Legal. It's more like an association than a real office.
JSA had a presence but it's mostly Chennai local lawyers who joined them. Recently CLA (A local corporate law firm) joined JSA in Chennai.
LKS is the only national practice with a good Chennai presence that's because LKS Management is fully Tamil. LKS is a Tamil firm.
Chennai legal market will continue to grow forever. But only Tamil Nadu lawyers can work. National practices can maximum have associations.
One big reason is Language AND Culture.
If you look at any tier 1 firms Bangalore office - people from across the country that too from TOP tier national law universities work.
In Bangalore tier 1 offices - hardly any kannad (local language) is spoken it's mostly English and Hindi and less than 30% of people are kannadi people. Most are from south india but you can see a lot of people from north.
But if you go to Chennai - 90% lawyers are from Tamil Nadu. Maybe few Kerala or Andhra people (even they will be born and brought up in Chennai) will be here and there. Language of business is also mostly Tamil.
You would not see top NLU folks working in Chennai law firms (compared to bangalore) Mostly Chennai law firms, they hire from Sastra, GLCs in Chennai and nowadays from NLU in Tiruchirappalli. Bangalore teams hire from across the country. Chennai teams - rarely outside these three law colleges.
Chennai corporate bar is a local bar. It's not diverse. For someone from outside it's really difficult to make a legal career in Chennai.
I have seen lot of bengalis, up walas, Rajasthanis becoming top corporate lawyers (in house and firms) in bangalore. Without even knowing the local language. But have never seen the same in Chennai.
Many Chennai companies outsources corporate legal work to Bangalore, Mumbai firms.
Chennai as a city has a lot of future. But if you are a national practice or non Tamil looking to establish yourself it's hard. Not impossible.
Chennai is as welcoming as Bangalore. People's perception is that it's a Tamil only city. That is not the case anymore.