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In the market for transactional lawyers, especially in boutique firms where you're handling significant responsibilities, an in-hand salary of ₹65k-₹70k is indeed reasonable. Your combined experience as a transaction lawyer and semi-qualified CS strengthens your case.
If you choose to stay at your current firm, given your role in not just executing but also educating and managing, you should ask for a raise that brings your salary closer to this range—around ₹65k in-hand, factoring in the firm's lack of leave policy and the workload you're handling.
However, it's essential to articulate the value you bring to the firm, emphasizing your role in client management, deal structuring, and your contributions to maintaining the firm's reputation and operations. This will bolster your case whether you're negotiating for a raise or interviewing for a new position.
In October 2023, I joined a newly established boutique law firm focused on transactions. I've been working here since, earning ₹35k per month. My overall experience includes 1.5 years as an associate and a total of 3.5 years, combining my roles as an associate and CS intern.
Currently, I am considering a switch as I’m dissatisfied with my current pay. The firm has no leave policy, meaning my pay is deducted for every leave I take, and there are no Saturdays off. Although the work environment is relatively non-toxic and the work hours are somewhat flexible, the partner lacks expertise in transactions or corporate law, leaving me responsible for educating him and managing all client-related tasks, besides handling my juniors and reviewing there work. The work includes deal structuring, due diligence, drafting of definitive documents, and post-closing compliance amongst other things. Given these responsibilities, I believe I should be compensated more fairly.
I need your advice as I’m uncertain about how much I should expect to earn at my next law firm. I believe that an in-hand salary of ₹65k-₹70k would be reasonable. What do you think? Additionally, if I were to stay at my current firm, how much of a raise should I be asking for?