Top Indian firm shakes up market by setting $24k base salary

Delhi-based Shardul Amarchand Mangaldas is to pay an annual salary of 15 lakh to new recruits, setting new rates for the Indian profession.

India rival firms setting new pay rates SumanBhaumik

The move is seen as a result of the rivalry emanating from the split in the famous Amarchand & Mangaldas firm. The two parts of the firm - that of Shardul and his brother Cyril - divided the old firm that they inherited from their family on geographical lines. The brothers and their teams are now involved in building up strength in areas and locations where they are weak. 


Both sides are said to be looking for lateral hires, rather than relying on organic growth. Bar and Bench comments that 'What Amarchand does, SAM or CAM, has a ripple effect on the rest of the legal market'. Introducing a base salary is an innovation - as lawyers in India tend to be paid in relation to a number of factors including location, education and how they came to be hired.  The legal market is thought to be on the verge of a boom - so competition for lawyers could result in large salaries being paid out. Source: Bar and Bench

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