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Chill out, it will be alright.
Earning 1 lac in mumbai equals to making 45k in T-2 city. The percentage of expenditure towards rent and transport will be the same between these individuals.
Law firms have turned blind eye towards inflation. T-1 pay more but it isn't any good. Things only get better when you become SA. Don't expect anything before. Like Sharan says 35 lpa is bare minimum to live in Mumbai.
Entry of foreign law firms can only save us now. Firms like hsf or a&o needs to enter and pay at least 22 lpa.
Your cash component in hand you're showing as 1,10000. Year end you'll also find ITR to get back the TDS.
Basically anybody with reasonable to above average expenses can save 5-7/8 lakhs in this year's salary. With the revised salary bands can even save 7-10 lakhs as A0. Stay a little conservative for the first few others. But formals from Pentaloons or Westside, don't buy the latest iPhone and invest wisely. It's not as bad as you're thinking of portraying. Also try consulting your seniors who you are closer to. Goodluck and pay off that debt asap. Never good baggage.
~45k seems like a conservative figure for basic expenses for all T1 people in Lower Parel ([rent on a room within 3-4km from office + rent on furnishings=33-38k] + cook[4-5k] + groceries[3-4k] + maid[~2k] + auto/cab fares[3-8k])
~15k will go into term + health insurance premiums (also including health insurance for my sr citizen parents)
~10k will go into additional expenses (membership at a gym not too far away + finally buying better formals; for now I'll be joining with old formals bought from DMart & street shops)
~8k for the education loan
~12k I'll have to send home
Which leaves less than 20k overall. Now, within that I'd have to save at least 8-10k and invest another 5k, which, in the best case scenario, leaves drumroll less than 5k for any occasional going out or vices or any form of indulgent gifts to myself.
[I do understand that I'm still v lucky to have a 'prestigious' job in this market — but the fact that these positions are deemed so coveted by so many CLAT aspirants and law students across the country is just...so mind-blowing to me because given the inflation and real estate disaster that is South Bombay, I really don't see the point of an actual middle class person putting in so much hard work only to barely keep up the finances!]
So, am I missing something, or do all T1 A0s hailing from ordinary families similarly end up struggling with finances regardless of their merit, accomplishments, and hard work!?
Based in corporate practice, what are rhe possible reasons for them to go abroad for masters.
- Do they get a raise after completion?
- Do they get paid any retainer fees during llm?
- some pursue llm without leaving the firm, how does that work out?
Spice Route has Trilegal payscales because rarely do people climb to the top. And rarely do spice route has to Dole out higher amounts.
To be fair M7 grads also look down upon T6 JD grads. Everybody looks down upon each other
Slated to intern in August, 2023.
I am unsure if I will get the opportunity to learn and work.
I am also scared of the fact that if I mess up or underperform my prospects for future internships there or any other branch will be closed forever.
If having an early T1 firm internship even counts as valuable in a CV.
Will they even care to teach me?
I have so many things going on in my head right now, and I really want guidance and how to go about this internship since there's no going back, and it's my only ever law firm connection.
AA, RB in Noida
NR, RC in B'lore
LV, SJ, YA in Mumbai
Freshfields Bruckhaus Deringer appears to have achieved what was commonly thought to be the impossible: the law firm has become a serious contender in New York despite hailing from the City of London.
The “magic circle” firm has broken into the top 10 of North American firms by value of M&A deals, officially competing head-to-head with US rivals in one of the most lucrative corners of the legal market.
The latest coup emerged just over the weekend: Freshfields is reportedly advising Google on its potential $23bn acquisition of cyber security start-up Wiz. US rivals surely clamoured to advise on the deal.
This comes after Freshfields has already nabbed work on other megadeals that raised eyebrows, such as Johnson & Johnson’s $13bn takeover of Shockwave Medical.
The secret to its success? The law firm hasn’t just poached one-off superstars. Instead, it’s hired almost 50 top partners over the past five years — aka entire teams — from US competitors like Skadden, Davis Polk and Cravath.
Ethan Klingsberg, who was a longtime rainmaker at Cleary Gottlieb, is one great example.
The firm poached six other partners from Cleary alongside Klingsberg (who is very likely the one to thank for the latest Google assignment) so that the team could offer a whole menu of legal advice — not just on deals.
Of course, hiring some of the US’s top talent has been expensive. Industry insiders speculated that Klingsberg secured guaranteed pay of more than $10mn a year.
Freshfields has made the bet that the investment will pay off. While earlier efforts faltered, its latest attempt seems to be working, with revenues at its US corporate practice tripling since 2019.
While there’s a lot for the law firm to celebrate, there are still hurdles ahead.
“When we all come from different places, how do we make sure this is a melting pot of good ideas, not a melting pot of conflict?” said Damien Zoubek, a star M&A lawyer who joined Freshfields from Cravath.
Its either that one female partner who is your mom's age or you are her kid's age so they act like a mentor/ mom sometimes. Some of them even see a similarity with their younger self and end up mentoring a lot.
Then you have the other kind, they see everyone as a threat and act super toxic, project personal insecurities and failures on other women including motherhood issues, marriage, looks, dressing etc.
I think it largely applies to all humans in general, it's just that i have seen women partners to be more expressive in these aspects. My personal take again
Most professional players and writers say Maradona was better.
Most Argentines rate Maradona higher.
Messi wins one demographic, though. 22 year olds with a Hotstar subscription.
If they concede that space, opposition will take it.
Remember, all this started happening after the wealth redistribution rhetoric