Hi, I am currently a PA3 in a Tier 1 in a non-corporate practice area. I was approached by a headhunter and after the interview rounds, I have been given to believe that an official offer will be rolled out as a Counsel Position at the Bombay Office. Have a couple of queries in this regard -
1. What should be the fixed and variable component (just looking for a range). % of variable component usually paid out.
2. Usual time taken to be promoted to partner position.
3. Any thing specific to be kept in mind considering its a lateral movement.
This response on basis the assumption that you have been offered a position at AZB. Couple of things to note:
1. AZB has a good salary, great client credits but horrible bonus structure. It's also designed in a way to trap you into sacrificing your bonus in case you want to move laterally (reviews, increments and bonuses are rarely given before September)
2. There is no guarantee that you will be made partner. You will have to demonstrate not only a high level of work skills but also pull clients.
3. Do it only if you are getting a substantial increment and factor in that they will not give you a raise the following year (on one pretext or another) and they will screw you over for your bonus whenever you leave (be it after 1 year or 10).
No one has answered the real question of how much fixed salary can a counsel expect. At least give a range someone. Also what is fixed component for PA 3 in a Tier 1 firm.
Hey OP, if you completed the year at PA3, aren't you in running for promotion in your own firm? If yes, what'll you gain by moving to other firm, at counsel level? Might as well look for partnership in your firm, where you've your ecosystem set (since you mentioned in other post that you're only looking at a better deal).
If you are already at PA3 level, then why are you considering a Counsel position? Counsel in AZB is like a PA level in other firms. You should be consider moving one step up. Not at the same level, especially when Counsel position in AZB doesn’t guarantee you promotion as a Partner.
From what I understand and know, Counsel position is not the same as PA position at AZB. AZB only releases their counsel and partner promotions and also their website also lists partners, senior partners, and counsels. Therefore, i think its not the same. Same goes for S&R.
1. What should be the fixed and variable component (just looking for a range). % of variable component usually paid out.
2. Usual time taken to be promoted to partner position.
3. Any thing specific to be kept in mind considering its a lateral movement.
Thanks in advance for the help.
1. AZB has a good salary, great client credits but horrible bonus structure. It's also designed in a way to trap you into sacrificing your bonus in case you want to move laterally (reviews, increments and bonuses are rarely given before September)
2. There is no guarantee that you will be made partner. You will have to demonstrate not only a high level of work skills but also pull clients.
3. Do it only if you are getting a substantial increment and factor in that they will not give you a raise the following year (on one pretext or another) and they will screw you over for your bonus whenever you leave (be it after 1 year or 10).
You are being made counsel and you think you will find the answers on an online forum with anon users? Konse year me ho beta?