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- That gal or guy said that he was excluding founders, yet you have included them in your diatribe:
- You speak of T1 law firms. There are, by my count, 6 tier 1 law firms to which you might be referring. How many (non-founder) senior and managing partners do you think they collectively have who earn more than 10 crores a year, after tax? Yup, you guessed it, less than 20 to 25. The number should increase with each passing year due to the effects of inflation alone, if nothing else.
??????
This seems a bit too high, if pre-tax. If you earn 20 crores a year, after tax at 33.33% (for ease of calculations, tax can be higher), you are left with 13.33 crores. I doubt even in good years, any of them is close to crossing 20 crores pre-tax, so the idea that any of them gets 15 crores post tax is verging on the edge of fanciful. Life has surely changed, but not that much.
For salaried partners without their own books, the retainership can go up to 1.5 crores in Trilegal and KCO. The number for Senior Partners in teams with high deal volumes can at the minimum earn 5-6 crores per annum.
1. Fresh Salaried Junior Partner: 70 lakhs - 90 lakhs.
2. Salaried Partner with experience: 1 to 1.25 crores
3. Salaried Partner running own books, subject to meeting their targets: 1.5 to 2 crores
4. Fresh equity partner: 2.5 crores to 3 crores, subject to meeting their targets
5. Senior Partners: 4 to 6 crores, subject to meeting their targets.6. Rainmakers: 6 – 8 crores (unless you are the owner)
LV, RBJ, Amit Kapur, Nishant Parikh? Any more?
Jo bhi tumne mujhse kahaa hai Senorita..
Magar phir bhi, na jaane kyun
Mujhe sunke, accha laga hai senorita...
1. Fresh Salaried Junior Partner: 80L - 1.2 crores PA.
2. Salaried Partner with experience: 1.5 - 2.5 crores PA. (Yes, salaried partners working in teams with high volume deals make upwards of 2.5 crores)
3. Fresh equity partner: 3 crores (Minimum) upto 4.5 crores.
4. Senior Partners: 5 - 8 crores.
5. Practice Heads: 8-10 crores PA.
6. Rainmakers: 15 crores + (Remember that this bracket constitutes a minuscule percentage of lawyers)