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I have got my confirmation and I’m not at the same salary and band as my batchmates. You may have to take a hit for the first 6 months, but that will still be way more than what you would be making at the tier 3 firm. In the long run however, you will be at the same band and salary package as your batchmates I.e people with the same PQE, and that’s what is most important.
If that's what they do, any way this can be overcome? What can one work on, to be paid in the same range? Be exceptionally well at work or have contacts? Ig things like the law school cannot be changed now.
To understand further. Do all firms do this 10-15% hike and not match salaries with existing associates? Or are there any exceptions? Because if there aren't any exceptions I am wondering what scope you would have to increase salary prospects to match your peers at T-1. Frequent changing of jobs may be one way but I don't think that would be very feasible or well appreciated.
Say X earns 10lpa at a small firm at A2 level. X has been only in small firms since X's day 1.
Say Y earns 16.8lpa at a Tier 1 firm at A2 level. Y has been at said Tier 1 since Y's day 1.
Now say, X is joining said Tier 1 firm (where Y is working) at same A2 level.
Per the 10-15% math, X will be earning in the range of 11lpa to 11.5lpa, despite his peer Y at same firm earning 16.8lpa.
So, how would X ever be able to match their salary to that of a Tier 1 associate who has been at Tier 1 since day 1?
Do all firms do this 10-15% hike and not match the salaries with existing associates? Or are there any exceptions? Because if there aren't any exceptions I am wondering what scope would someone like X have to increase his salary prospects.
Now if this someone joins a Tier 1/2 law firm, after a a few years of working in the non-tier/smaller firm, will they be paid lesser than their colleagues at the Tier 1/2, who are at the same PQE level and have been there since their day 1?
Which firms usually follow this? And which firm don't?