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Often we see Partners at Tier 2 firms going to Tier 1 firms. And sometimes even from Tier 2 firms to Tier 1 firms.
2. How can a new firm afford to pay more for the lateral partner without loosing money?
3. How did Trilegal hire all these partners in a short span of time?
Its simple, an average tier 1 team would typically have 9 people:
1) 1 Senior Partner
- Pay would range between 1.5 to 3 crore
- Supposed to bill twice the team cost
- Supposed to bill thrice his pay
2) 1 Junior Partner
- Pay would range between 80 lakhs to 1.5 crores
- Supposed to bill 40% of the team cost
3) 1 Principal Associate
- Pay would range between 55 to 80 lakhs
- Supposed to bill between 1.5 to 3 crores
4) 2 Senior Associates
- Pay would be between 30 to 50 lakhs
- Not given targets but differs b/w firms
5) 4 Associates
- Pay would range between 15 to 30 lakhs
- Not given targets but differs b/w firms
Therefore (higher side*) costs would be: 9 crores; with suppose a 15 crore target.
1) Associates - 1 crore (higher side*)
2) Senior Associates - 1 crore (higher side*)
3) Principal Assocate - 1.5 crore (higher side*)
4) Junior Partner - 2 crore (higher side*)
5) Senior Partner - 3.5 crore (higher side*)
II. The Poaching
Now a typical team cost as discussed here is 9 crores.
The billings of such teams may be anywhere between 12 to 20 crores.
However, the target usually create hogwash and poaching because of:
1) Bad performance at current firm (i.e. missing targets, bad market, less deals, attrition)
2) Rival offers (lesser targets at rival firms)
3) Equity components (equity offers to senior partners)
III. The Trilegal Chapter
Simply put, Trilegal has managed to bridge lesser targets with stable equity components for partners.
Hope this analysis rings a bell!
Why the hell they don't retire? They can easily retire within 5-8 years of becoming senior partner.
1. Do these poached Partners and their teams bring in their clients from their previous firm to new firm? Is that possible?
2. How/why does the whole team shift firms?
Who do the clients actually belong to? The Partner or Firm?
What has CAM offered them. More than Indus pays? How can CAM afford what Indus cannot?