JSA Mumbai-based partner Dina Wadia said that the starting salary, excluding bonus, had not changed for two years and was due for an adjustment.
“Like all other firms basically, we look at it from time to time,” she said. “We don’t necessarily follow the herd, but just revise it in accordance with our own systems and beliefs.”
Last year new joiners at JSA would have earned a base remuneration of Rs 9.6 lakh, excluding bonus.
After one year at the firm, associates are also paid 8 per cent of any of their direct personal billings.
Legally India reported in 2010 that JSA had decreased its reliance on long-term internship programmes, in order to place a greater emphasis on recruiting law students directly from campus.
Amarchand Mangaldas, Khaitan, Luthra & Luthra and Trilegal all hiked their starting salaries in 2010 to cross the symbolic Rs 10 lakh per year barrier.
According to *Legally India’*s table of corporate law starting salaries, the latest raise puts JSA’s basic package on par with with Talwar Thakore & Associates, and just Rs 30,000 per year short of Khaitan & Co, S&R Associates and Trilegal, which pay Rs 10.8 lakh per year. AZB & Partners in Mumbai pays around Rs 11.4 lakh to new recruits.
Editor’s note: The results of the salary survey conducted earlier this year are almost ready for publication and we hope to announce these shortly.
2012 Indian legal recruiters’ offered remuneration
Firm  | Base retainer pay ( | Offered total package incl. max bonus ( |
|---|---|---|
| AZB & Partners (Mumbai) | 11.4 | ”competitive bonus” |
| Khaitan & Co (Mumbai) | 10.8 | 14.8 |
| S&R Associates | 10.8 | |
| Trilegal | 10.8 | 12.8 |
| J Sagar Associates (JSA) | 10.5 | |
| Talwar Thakore & Associates | 10.5 | Bonus: 0-40% of base pay[1] |
| Amarchand Mangaldas | 10.48 | 14 - 15 |
| Luthra & Luthra | 10.08 | 12.6 (+0.51 signing bonus)when is this paid? (+3 insurance benefits) |
| Finsec Law Advisers | 10 | Performance based bonus. |
| AZB & Partners (Delhi) | 9.8 | ”competitive bonus” |
| ICICI Bank | 9.05 (salary with retainer option) | CTC* with other benefits convertible to full retainer after six months[2]. |
| Platinum Partners (Delhi) | 9 | (unconfirmed officially) |
| Kochhar & Co | 4.2-4.8 | |
| Wadia Ghandy & Co | 8.4 | 10 with bonus at fresher level |
| Argus Partners | 8 | 10 with bonus at fresher level. |
| Desai & Diwanji | 6 - 8.4 | 2% on billings + 10% on billings (if the work has been generated by the fresher) + discretionary year end bonus |
| Nishith Desai Associates | 7.2 (salary) | +4.8 fixed amount is paid out after three years with firm[3]. First-year CTC* figure therefore 12.12 forms base for 2nd year increase. |
| SAIL | 6.6 - 6.8 | |
| Phoenix Legal | 6 - 7.2 | |
| IFMR | 6 - 6.5 | |
| Bharucha & Partners | 8 | |
| Majmudar & Co. | 8.43 (Mumbai avg) 4.3-6 (Bangalore avg) | Mumbai: 8.43 +26% variable bonus |
| Vedanta | 7 | |
| Juris Corp | 6-6.5 | |
| Pangea3 | 4 - 6 (5 - 7 for 2010-11) (CTC* incl. bonus at top 10 law schools) | |
| Lakshmi Kumaran & Sridharan | 4.8 | |
| Crawford Bayley & Co | 4.8 | Variable across teams (Unconfirmed claim of 10.2 CTC* incl. performance bonus for National Law Schools) |
| Kochhar & Co | 4.2 - 4.8 | |
| OSC Service (Clifford Chance offshoring company | 5.3 | |
| CPA Global | 3-5 | |
| Supreme Court judicial clerkships | 3 (stipend)[4] |
Source: Legally India research
Comments
Also what happened to the lateral salary survey results?? will we ever see a report on that?
Could you please let us know any figures you believe are out of date, such as S&R and Amarchand, and we can check those?
On the lateral survey, please see our editorial note above: we should be ready with the second part of the survey results shortly.
Best wishes,
Kian
Also, I'm a little confused - your initial (still unpublished comment was headed: True/False and said that seemingly there's been a salary cut, which didn't sound like "confirmed fact" that was for publication).
If you have any more information, please post here and will be happy to respond and follow up, even if the comment may not be posted until we've investigated...
Best wishes,
Kian
We have published comments in which people ask, is XYZ true? I heard a rumour, etc, to allow others to debunk it, if this is easily possible to do.
But generally, if something sounds like it'd be a complex news story in its own right, we have treated such comments as tip-offs (as they're often intended) and do some investigation.
Kian, I doubt you will get comments from the firm. Why not post the comment/ at least the name of the firm and we can figure out things to some extent. We have contacts or friends in most firms so we can find out if the rumour is true! News (and even rumours) like this should not be served cold! Please publish comment (redacted if you like) with the name of firm, unless you plan to report it this week itself.
The firm being talked about is Amarchand, but according to my current knowledge the base package is still the same (as confirmed in 10.1). However, and this I have confirmed, the new bell curve bonus structure has decreased the bonus for the vast majority.
That's part of the reason we never really focused on bonuses much in our salary table, since those tend to be variable, although at Amarchand, pre-bell curve, bonuses usually were the maximum of around Rs 15 lakh.
We have reported on the bell curve system previously here:
http://www.legallyindia.com/201202172583/Law-firms/li-mint-exclusive-rs-1000cr-amarchand-bcg-plan-revealed-analysed
We'll keep investigating, however - if anyone can shed any light on this in the meanwhile, comments always welcome.
Best wishes,
Kian
I do know that some associates are not very happy about the bell curve bonus system, since it has practically reduced the take-home pay for most, but the top performers.
But from what I know, and for a variety of other reasons, I would think it very very unlikely that a firm would actually reduce its base retainer package directly. Adjusting the bonus amounts, as Amarchand has done, would be much easier.
Do ask your friends about the exact details - would love to hear - and will also look into at the same time.
If you allow commenting and they pass the basic decorum test, you really have no business checking the veracity or the truth especially since you have not mentioned that as LI. Also I am sure that your comment policy does not set out anywhere that only the truth can be mentioned out there.
Clearly, there seems to be some different rules at play here- again there is no harm in a comment leading to a story, but not putting up the comment itself is censorship. And clearly, I have seen enough stuff in the comments that are wild rumours and absolute lies as well- not that you spent time verifying the truth in it. In any event, that is the point of a comments section to let the people say what they want- does not have to be verifiable truth.
Sad that even a web-site like yours censors stuff. Clearly, people are very touchy nowadays and the information asymmetry will just continue (not that you were ever ensuring that it didn't).
Lawyers who see their names on the list will then promptly increase salaries, and then write to you to remove them from the "top" 50 to spare themselves further embarrassment.
This way, you'll be serving the freshers joining the Bar better.
When offers are made by AMSS on campus, a total figure is cited indicating a part as bonus and the rest as fixed retainer. The actual bonus is known to vary between 70 to 120% of the bonus component. The fixed retainer component is rightly reported by LI.
Any idea about bangalore based firms? (NDR, Poovayya, ALMT, DSK Legal)
(2) Kochhar is mentioned twice though with the same amount.
(3) Phoenix nos seem incorrect. Someone I know of is getting more than 7.2 plus almost a 40% incremental amount of annual pay in March.
I appreciate your effort but you have to work out upon authenticity of your report or information given in the article. It seems that most of your information pertaining to salary or total package is not correct (Please read above comments). You might be a good lawyer but it does not mean you will be good journalist. You should publish factual information about this legal fraternity. I really do not know the sources of your information but before publishing these kind of information you should do proper due diligence. After all this is really matter for so many law aspirants who wanted to join Indian Legal Fraternity and for them also who wanted to find out better future in reputed law firms. This is my humble request to you that being a good information provider of this Indian Legal Fraternity you should not misrepresent single factual information.
Regards,
Associate
Please see some of our previous stories here:
http://www.legallyindia.com/tag/salaries
We are looking into comments where salaries may have gone up and will investigate and update gradually.
Please keep them coming.
Best wishes,
Kian