bonus
As the novel coronavirus is gearing up for a second wave and wreaking renewed havoc in much of the world and economies continue teetering on brinks barely held back by government stimulus packages, a number of law firms have recently eased restrictions on their fee-earners.
L&L Partners corporate transactional advisory partnership has paid out bonuses to fee-earners just a little behind schedule last week, though it notified its 44 fresh campus recruits that they would not be able to join the firm before 2021 as opposed to around this month (though a few of these have since joined - see update below).
Cyril Amarchand Mangaldas has paid out bonuses to fee-earners yesterday, this year around a week earlier than usual, due to the national COVID-19 lockdown.
Exclusive: Trilegal Delhi lawyers Harsh Pais and Yogesh Singh were elevated to the firm’s salaried partnership, as the firm overshot its fee-earner bonus budget after having instituted a new system.
Khaitan & Co has promoted Mumbai associates Joy Jacob, Ashwin Mathew and Savita Singh to its partnership and announced associate bonuses of as much as 90 per cent of annual salaries at the top end.
Amarchand Mangaldas has announced variable compensation to salaried staff on Friday with total rewards up to 80 to 95 per cent of maximum levels, as the firm is expecting a record turnover for the 2009-10 financial year.
Trilegal has promoted four partners, raised its associate base salaries by 20 to 30 per cent and paid out unprecedented bonuses this year.