India Lawyer Compensation Report - Vahura · In-house Legal FINANCIAL SERVICES ENERGY TECHNOLOGY...
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India Lawyer Compensation Report
Transcript of India Lawyer Compensation Report - Vahura · In-house Legal FINANCIAL SERVICES ENERGY TECHNOLOGY...
India Lawyer Compensation Report
THIS REPORT SETS OUT THE REMUNERATION LEVELS FOR LAWYERS AT REPUTED LAW FIRMS AND IN-HOUSE LEGAL TEAMS IN INDIA
THIS DATA HAS BEEN GATHERED FROM VARIOUS REPUTED LAW FIRMS AND
CORPORATE HOUSES AND FINANCIAL INSTITUTIONS WITH RESPECT TO
LAWYERS IN INDIA. WE HAVE SUCCESSFULLY HELPED MANY LAWYERS MOVE
ACROSS INDUSTRIES AND HAVE THUS CONSIDERED THE DATA IN THIS
RESPECT AS WELL. THE DATA IS NOT REPRESENTATIVE OF ANY ONE LAW FIRM
OR COMPANY, BUT PROVIDES THE RANGE FOR LEGAL PROFESSIONALS
ACROSS SEGMENTS IN INDIA.
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Law FirmsLaw firms in India are typically set up as partnership or sole proprietorship concerns. Most law firms engage lawyers on an exclusive retainership basis. The lawyer in this structure is not an employee of the firm, but is an exclusive consultant to the firm. Some law firms document this retainership arrangement with contracts that contain provisions relating to exclusivity, non-competition, confidentiality and non-solicitation.
The Associate and Senior Associate designations are fairly standard across firms. It typically takes between 3 (three) to 4 (four) years for a lawyer to move from the associate to the senior associate level. Beyond the senior associate level, the hierarchy and designation varies from firm to firm. Some firms have a ‘pre-partner’ level. This is a stage where a professional is being considered for partnership. Some of the designations in use at this level are ‘Principal Associate’, ‘Managing Associate’, ‘Manager’ or ‘Counsel’. A professional at this pre-partner stage typically has between 6 to 8 years of experience.
The partnership structures within Indian firms vary widely. Junior partners with 7 to 12 years of experience are typically on a salary and do not have an ownership stake in the firm. Equity partners are true owners of the firm and are usually more senior members of the firm or those who have a substantial client base. Recently, though, with increasing pressure to retain junior partners, a number of firms are moving towards adopting a lock-step equity structure.
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The figures set out below are representative of reputed law firms in India
9.5 - 16.25ASSOCIATE (YEAR 0)
LEVELANNUAL REMUNERATION (INR in lakhs)
ASSOCIATE (YEAR 1)
ASSOCIATE (YEAR 2)
ASSOCIATE (YEAR 3)
SENIOR ASSOCIATE (1)
MANAGING ASSOCIATE/
PRINCIPAL ASSOCIATE (5 - 8 YEARS)
SENIOR ASSOCIATE (2)
SALARY PARTNER (7 - 12 YEARS)
13.6 - 19.0
14.6 - 24.7
25.5 - 32.5
30.0 - 68.0
75.4 - 175.5
53.0 - 78.0
126.1 - 227.5+
INR
INR
INR
INR
INR
INR
INR
INR
Remuneration Levels
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In-houseLegal
FINANCIAL SERVICES ENERGY LIFE SCIENCESTECHNOLOGY
In-house Legal departments hire legal counsel typically on an employee basis, although insome cases an exclusive retainer arrangementis also entered into. Further, salary or Cost to Company (CTC) structuring varies from company to company and across industry sectors. The highest paying sectors in 2012 are financial services, energy, technology and life sciences.
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5.0- 12.4+EXECUTIVE LEGAL /
ASSISTANT MANAGER1 - 3 years
PQE TYPICAL DESIGNATION CTC RANGE (INR in lakhs)
MANAGER / LEGAL COUNSEL
3 - 5 years
SENIOR MANAGER / SENIOR
LEGAL COUNSEL5 - 8 years
ASSISTANT VICE-PRESIDENT LEGAL / LEAD LEGAL COUNSEL
8 - 10 years
VICE-PRESIDENT LEGAL / PRINCIPAL LEGAL COUNSEL
10 - 15 years
GENERAL COUNSEL / DIRECTOR LEGAL
15+ years
8.0 - 18.0
14.6 - 37.7
25.5 - 63.5
30.0 - 105.3
INR
INR
INR
INR
INR
INR 63.05 - 208+
Here are the broad remuneration levels for the In-House Legal departments of reputed companies across diverse areas of practice in India. Remuneration levels do vary across cities, with the highest salaries paid-out in Mumbai, followed by the NCR region, Bangalore, Hyderabad and Chennai.
Remuneration Levels
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We have successfully helped many lawyers move across industries and have thus considered the data in this respect as well.
This report is only intended to provide a general overview of the compensation structures for professionals in reputed Law Firms andIn-House legal teams.
If you require a more bespoke compensation report tailored for your organization’s legal department, please do not hesitate to get in touch: [email protected].
