Trilegal makes first woman partner, hikes salaries and bonuses

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Trilegal has promoted four partners, raised its associate base salaries by 20 to 30 per cent and paid out unprecedented bonuses this year.

Four new salaried partners were made up in April who had been with the firm almost since it was first set-up. The promotions include Delhi corporate lawyer Charandeep Kaur, who is Trilegal’s first female partner.

Kaur took three months of maternity leave two years ago and worked on limited flexi-time for a short while after.

She said: “If it wasn’t for the support the firm offers, it wouldn’t have been possible to have a little baby and become a partner.”

Other new partners include corporate and employment lawyer Ajay Raghavan in Bangalore, and Mumbai lawyers Ameya Khandge in banking and Delano Furtado in corporate.

The firm has also increased its associate starting salaries from between Rs 8 and 8.5 lakhs ($16,800 to $17,900), to a minimum of Rs 10 to 11 lakhs per year ($21,000 to $23,100).

Trilegal co-founding partner Anand Prasad said he hoped that the increased salaries would particularly help the firm improve its graduate recruitment, where it was not top of the market yet.

Due to record earnings this year in M&A, restructuring and private equity, Prasad added that Trilegal had paid out record amounts to associates under its bonus scheme.

The bonus is calculated by combining the general financial performance of the firm, individuals’ billings and a discretionary element, although all associates are guaranteed between 10 to 25 per cent of their base salary as a year-end bonus.

Prasad said: “[This year] everybody’s got more – a significantly higher bonus than they were assured.” He added that the average bonus paid out to associates equated to around three months’ salary this year.

Trilegal operates a lockstep for its six current equity partners out of a total partnership of around 15. The firm currently employs around 80 to 85 associates.

Comments

Shocked 9 Jun 2009, 10:48
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Rs 10 to 11 lakhs per month? Wow, where can I apply?
bangalore lawyer 9 Jun 2009, 11:23
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This is why some of the traditional family firms have a problem - they don't make up enough partners.
correction 9 Jun 2009, 12:08
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Looks like 10-11 lacs per month is a typo. It probably is Rs. 1.0 to 1.1 lacs per month for a junior associate.

Wonder if this is the base salary or inclusive of the bonus component. There seems to be no "base salary" concept in India and compensation figures include discretionary bonus component.
Kian Ganz, editor 9 Jun 2009, 12:19
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We sincerely apologise for the error in the earlier version of the story. The quoted salaries were annual salaries, not monthly.

This has now been corrected.
Anonymous 30 Jan 2010, 05:33
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Sad part is these firms is that they go by the brand name, not behind the talents. You would be hired very easily if you are from a top law school like NLS..the guys who studied really hard, and really good enough to handle corporate matters may not pass even the first level interview, unless he has a branded law school behind him. They would be happy to hire the branded guys, even if they r average students.
Average NLU guy 26 Apr 2012, 19:47
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NO. That's not the case.

And if I had to cry, even I could about how students from random colleges in Mumbai have no attendance requirements and can (and do) intern for the whole year round and even enjoy their vacations...all the while getting trained for the job they are working towards.

BUT. Lets not cry. Its foolish.