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I have been on my own for 2 years now. While I love what I do, it has become increasingly difficult to find competent hands in litigation. I start off my junior colleague at 20k a month. Was paying one another colleague 45k a month with freedom to use office resources and take up independent matters. But, nothing seems to work when it comes to retaining them.

Plus, despite being very patient and helping them with doubts, they churn out garbage. It is easier to redraft than send out recline versions
Litigation will obviously have a dearth of competent professionals if it continues to initmidate youngsters with the abysmal pay. Try paying something like 70-80k, I am sure T-1 law schools will let you participate in their Day Zero process and you'll be able to hire quick witted folks. Also, maybe drop your chambers' name if anonymity isn't an issue for you? I think a lot of us lurkers here would be keen on applying for both full time work and internship.
You can't find decent people even if you pay 1 lakh per month

They will find someone who will pay them 1.2 lakhs 6 months later and switch :)

Even tier 2 law firms can't retain talent - Tier 1 poaches them

This is the reality for competent people

Incompetent people - their reality is different
Look someone like AMS, Rohatgi, Sibal etc can compensate juniors in non-monetary ways such a reference or recommendation letter. Appearing with them and having access to them has some value.

If you are not one these guys, you probably don't have the same pull, so all you can do is compete on the monetary front. If you have non monetary perks such good mentorship, WLB, good work culture and ethics, the junior might be willing to give a little discount on retainer to continue working with you.
Yeah, trying be worth 70-80k for starters. Clerks and stenos are more useful than a lawyer with less than 2 years experience.
Which city, good sir/ madam?

For the pay you offer, ideally you should be getting good people to stay.
Of course I haven't run my own chamber ":D"

The pay/ stipend I get is SO bad, that I see absolutely nothing besides money at this moment.

Want to know what makes it even worse for me?

I have taken up close to 75%- 80% of the drafting, I am at office post court hours EVERYDAY, and I don't even complain about it. Why? Because I legit like working.

However shoddy pay has now gotten to me to the point that NOTHING but money can make any difference whatsoever to me now
I would love to apply to your office if it's Delhi based. First Gen kid here, but I've worked hard enough to get references from a lot of top lawyers in Delhi. I'm adept at briefing, and I've drafted written submissions in a constitution bench matter. Got two job offers but I want to start from the trial court. Will be graduating in July.