Apart from Vakilsearch, there are other significant law firms in the country which has been offering unmatched legal services to the residents of the country. Read this blog to gain an insight about them.
Overview
While still in school, every aspiring lawyer hopes to join one of India’s premier law firms after graduation. They may require specialised knowledge through M&A courses, business laws courses, etc. while concentrating on law firms because these courses are highly sought after by law firms. However, every prospective employee considers different aspects of their growth with regard to their knowledge, culture, individuality, and pay scale before simply choosing a law firm at random.
Top Law Firms in India
Here is a list of the top five law firms in India –
Khaitan And Co
The company at the top of the list is Khaitan and Co., which was established on November 11, 1911, by the late Debi Prasad Khaitan. His brothers, Mr. Lakshmi Prasad Khaitan and Mr. Bhagwati Prasad Khaitan, helped him. After a number of years, Mr. Pradip Kumar Khaitan, the son of Mr. Bhagwati Prasad Khaitan, continued his father’s rule and turned Khaitan and Co. into a recognised legal entity.
At the moment, 97 partners and directors elect an executive committee to lead the company. With some offices in other nations as well, it has offices in New Delhi, Mumbai, Kolkata, and Bengaluru. By increasing its base pay by 1.2 lakhs from the previous year’s salary of 13.2 lakhs to 14.4 lakhs annually in April 2015, Khaitan And Co. became the nation’s highest salary-paying employer. In addition, it provides a performance bonus of up to ₹ 1.8 lakhs. However, his rival company criticised this move to raise prices, claiming that it was made to disrupt current salary trends in order to gain market share.
For more than a century, Khaitan And Co. has been active in a variety of industries. It is said that Tier I companies offer the best compensation packages, and Khaitan is Tier I in 9 of the 13 industries in which it operates, demonstrating their clear superiority in those industries. Their Associates are currently paid between ₹ 13,90,000 and ₹ 20,70,000 annually. Thus, Khaitan And Co. is at the top of the list of Indian law firms that pay the highest salaries.
S&R Associates
Founded in 2005, S&R Associates is a highly effective law firm. Only 20% of its work is domestic in nature, while the other 80% is. There are six women and six men among the 12 partners in this firm, which has a 50-50 gender split. It has mastered the following areas over the last 11 years: Corporate/M&A, Capital Markets, Private Equity, IT, Telco, and Media
It is in second place for offering the highest base salary of ₹ 13.2 lakhs, with a maximum bonus of ₹ 3 lakhs based on performance. It is a leading employer of NLS, ILS, and NALSAR graduates, and on June 16, it promoted three attorneys to partner status.
Talwar Thakore and Associates
TT&A, as it is frequently called, was established in 2007. Currently, 40% of its operations are conducted domestically, and 60% are conducted internationally. The fact that TT&A is Linklaters is among the most impressive details. In 2011, the two businesses worked together on BP’s $7.2 billion partnership with Reliance Industries. Since then, the two have collaborated on a number of global projects. In order to achieve new heights in its New Delhi office in 2013, it continued to work.
With a basic pay starting at ₹ 13 lakhs, it ranks third in India for highest salaries after raising its fresher and senior pay bands in April 2015, which came before Khaitan updated their pay structure. In rare instances, it also offers bonuses of ₹ 5.2 lakhs, or 40% of basic pay, based on things like the number of hours a client
Shardul Amarchand Mangaldas And Co
It was founded on May 11th, 2015, following the iconic Amarchand and Mangal Das and Suresh A Shroff and Co. splitting. A full-service law firm, it specialises in the following areas:
Banking and Finance (Ranked Tier I), Antitrust and Competition (Ranked Tier I), Dispute Resolution (Ranked Tier I), Investment funds (Ranked Tier I), Projects and Energy (Ranked Tier I), Capital Markets (Ranked Tier I), Insurance (Ranked Tier II), Labour And Employment (Ranked Tier III), Corporate and M&A (Ranked Tier I), White-Collar Crime (Ranked Tier I) , TMT (Ranked Tier I), Real Estate and Construction (Ranked Tier I), and Tax (Ranked Tier II).
Along with many other companies, they increased the base pay in 2015 to ₹ 12.5 lakhs. Additionally, a bonus of up to ₹ 1.5 lakhs (maximum) will be given based on performance. Associate attorneys are currently paid between ₹ 3,54,241 and ₹ 16,42,318 per year. Shardul Amarchand Mangladas And Co. is thus paying the highest salary at position #4.
Cyril Amarchand Mangaldas & Co
It was founded on May 11th, 2015, following the division of Amarchand Mangaldas and Suresh A Shroff and Co. With so much experience, CAM is an expert in the following areas:
- Banking and Finance (Ranked as Tier I)
- Capital Markets (Ranked as Tier I)
- Corporate And M&A (Ranked as Tier I)
- Dispute Resolution (Ranked as Tier I)
- Investment Funds (Ranked as Tier I)
- Labour And Employment (Leading Individuals)
- Projects and Energy (Leading Individuals)
- Real Estate and Construction (Ranked as Tier II)
- Shipping (Ranked as Tier III)
- TMT (Ranked as Tier I)
- Tax (Ranked as Tier II)
Kotak Mahindra, ING Vyasa Bank, Axis Bank, Etihad Airline, Standard Life, GMR Energy, TATA Capital, Brightstar, Morgan Stanley, and others are notable clients.
Currently, the company offers a basic salary of ₹ 12 lakhs plus a bonus of ₹ 3 lakhs, depending on how dedicated an employee is to the business and their work.
J Sagar And Associates (JSA)
J Sagar Associates (JSA) is a prominent national law firm based in India, founded in 1991 by Jyoti Sagar. With 40 partners and approximately 200 lawyers, JSA has a significant presence across multiple locations including New Delhi, Gurugram, Chennai, Ahmedabad, Mumbai, Bangalore, and Hyderabad. Specialising in various legal domains, JSA has achieved Tier I rankings in key areas such as Banking and Finance, Private Equity, Project and Infrastructure, Capital Markets, and Corporate M&A.
In Banking and Finance, JSA serves prime clients like Axis Bank, Export-Import Bank of India, and HDFC Bank. Their Tier I-ranked Private Equity practice involves advising sovereign wealth funds on investments in healthcare and real estate. JSA’s Project and Infrastructure practice spans energy, transportation, smart cities, and telecommunication, earning them a Tier I ranking.
With a Tier I ranking in Capital Markets, JSA caters to clients including Axis Capital, CLSA, DSP, Merrill Lynch, and SBI Capital Market. In Corporate M&A, they have advised Union Bank on strategic acquisitions. Known for their extensive experience, JSA is among the top 10 law firms offering competitive salaries. Currently, their base remuneration stands at ₹ 11.5 lakhs, excluding a maximum bonus of ₹ 1 lakh. The firm periodically reviews and enhances the base salary, showcasing its commitment to employee welfare and growth.
Trilegal
Established in 2000, Trilegal stands as a premier law firm in India with offices in key locations such as Bangalore, Hyderabad, Mumbai, and New Delhi. Boasting a team of around 150 lawyers, Trilegal excels in various legal domains, including Real Estate, Infrastructure, Energy, Technology, Mergers and Acquisitions, Capital Markets, Private Equity, Corporate Disputes, Intellectual Property, Banking, Tax, and more.
Notably, in 2007, Trilegal played a pivotal role in one of the most significant M&A transactions, advising Vodafone alongside Linklaters on the acquisition of a 67% stake, valued at a multibillion-dollar sum ($11.1 billion), in Hutchison Essar Ltd.
Trilegal’s commitment to its workforce is reflected in its competitive pay scale. Presently, the firm offers a total remuneration of ₹ 11.28 lakhs per annum, with a maximum remuneration of 18 lakhs per annum based on employee performance. Interns receive approximately ₹ 17,348 per month, while associates earn between ₹ 1,06,000 and ₹ 1,13,000 per month, commensurate with their knowledge and expertise. Trilegal continues to be a sought-after destination for legal professionals and aspiring lawyers alike.
AZB and Partners
AZB and Partners, a leading corporate law firm in India, has secured its place among the top three with an impressive revenue of ₹ 300 crores. The firm operates from strategic locations including New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, and Gurugram. Founded by legal luminaries Ajay Bahl, Zia Mody, and Bahram Vakil, AZB and Partners have orchestrated landmark deals, showcasing their prowess in the legal landscape.
Some notable deals handled by AZB and Partners include Tata Steel’s $486.4 million acquisition of Natsteel in 2004, Tata Motors’ $2.4 billion purchase of Jaguar and Land Rover in 2008, Aditya Birla Group’s $6 billion acquisition of Novelis in 2007, and Tata Docomo’s $2.7 billion deal in 2007, among others.
The firm specialises in various legal domains:
- Antitrust and Competition (Ranked Tier II): Notable clients include Google and Mercedes-Benz.
- Aviation (Ranked Tier II).
- Banking and Finance (Ranked Tier I): Clients include FIH Private Investments and Grameen Capital India.
- Capital Markets (Ranked Tier I): Clients include HDFC Bank, Axis Capital, Kuwait Investment Authority.
- Corporate and M&A (Ranked Tier I): Core practice handled by Adv. Zia Mody and Adv. Ajay Bahl.
- Dispute Resolution (Ranked Tier I): Clients include Fairfax, Boeing, Nalanda Capital.
- Insurance (Ranked Tier II): Advises large global insurers on joint ventures.
- Intellectual Property (Ranked Tier III): Clients include DST Global and Lafarge India.
- Investment Funds (Ranked Tier I): Provides advice on various fund structures.
- Projects and Energy (Ranked Tier II): Offers advice on Oil and Gas, Mining, and telecom projects; chief clients include Lafarge India.
- Real Estate and Construction (Ranked Tier II): Clients include Asian Development Bank, KKR India Asset Finance.
- TMT (Ranked Tier II): Provides advice in the media and entertainment space, including clients such as Bharti Airtel.
- Tax (Ranked Tier I): Boasts a specialised group in tax planning.
With a base remuneration ranging from ₹ 9.8 lakhs to ₹ 11.4 lakhs, AZB and Partners proudly stand as the 8th highest-paying firm in India, attracting top legal talent with its stellar reputation and commitment to excellence.
Luthra and Luthra
Established in 1991 by Mr. Rajiv K Luthra, who commenced his career in 1978, Luthra and Luthra has risen to become one of the top law firms in India, earning Tier I recognition. Boasting a team of 52 partners and approximately 247 lawyers, the firm has a strong presence in New Delhi, Bangalore, Hyderabad, and Mumbai.
Luthra and Luthra excel in various legal domains:
- Corporate/M&A: Key clients include Ascott, Arcelor Mittal, Tata Group, Essel Group, and JSN Steel.
- Private Equity: Notable deals involve advising Somara Capital-led PE Group’s acquisition of KFC and Pizza Hut Franchises in India.
- Banking and Finance: Major clients include ICICI Bank, State Bank of India, and US Exim. The firm advised Rosa Power Supply Co. on a refinancing deal worth USD 882 million.
- Capital Market: Highlighted by the IndiaBulls Housing Finance Ltd output worth USD 601.57 million. Key clients include Morgan Stanley and ICICI Securities.
- Dispute Resolution: Key clients include Samsung, India Bulls, Toyota, and Kirloskar.
- Projects, Infrastructure, and Energy: Luthra and Luthra handled Squared Capital’s acquisitions of Jaipur-Manua Tollway Rit Ltd. Key clients include GVK Group, Renew Power, and GnR Group.
- Tax: Noteworthy involvement in Abbott Laboratories spin-off. Key clients include Johnson Matthey, LVMH, and Jubilant Food Works.
- Intellectual Property: Key clients include Amar Resorts and Lava International.
- Competition/Antitrust: Represented Ranbaxy in a USD 4 billion merger with Sun Pharmaceuticals.
- Real Estate: Key clients include Unitech Ltd and Godrej Properties.
Luthra and Luthra currently offer a maximum basic salary of ₹ 10.8 lakhs with a maximum bonus of ₹ 2.52 lakhs, depending on individual skills and expertise. Interns receive approximately ₹ 6,000-7,000 per month, while corporate lawyers earn between ₹ 1,68,000 and ₹ 1,82,000 per month, solidifying the firm’s position as a top choice for legal professionals.
Desai & Diwanji
Established in 1930 by Mr. Vishwang Desai and Mr. Apurva Diwanji, Desai & Diwanji has evolved into one of the top 10 law firms offering the highest salaries in India. With a team comprising 24 partners and approximately 187 lawyers, the firm has earned its place through a strategic focus, with 40% of their work executed domestically and 60% internationally.
Operating from offices in Delhi, Gurugram, and Mumbai, Desai & Diwanji is renowned for its specialisation in mergers and acquisitions, catering to major clients such as the Royal Bank of Scotland, Union Bank of India, and BNP Paribas.
As per Wikipedia, Desai & Diwanji provide starting salaries ranging between ₹ 6 – 8.4 lakhs. The firm has successfully navigated major deals, including advising the Wadia Group-owned airline Go Air on the acquisition of 72 Airbus 320 NEO and Franklin Templon on its purchase of a 20% stake in Mumbai designer clothes retailer Kimaya Fashions.
Key practice areas include:
- Banking and Finance (Ranked Tier 3): Premier clients include Union Bank, RBS, and BNP Paribas.
- Capital Markets (Ranked Tier 2): The firm is respected for its equity market expertise and local regulatory knowledge, with prime clients such as RBS and J.P. Morgan.
- Corporate and M&A (Ranked Tier 1): Desai & Diwanji attracts international clients for high-end corporate and M&A deals, with past clients including Quippo Telecom and Avendus Capital.
- Dispute Resolution (Ranked Tier 4): The firm showcases expertise in financial, aviation, and media disputes.
- Projects and Energy (Ranked Tier 3): Known for strong project finance expertise, the firm frequently advises Indian Banks.
With a wealth of knowledge and expertise, Desai & Diwanji holds the distinguished position of being the 10th firm providing top 10 salaries in India.
Why These Law Firms?
These law firms pay extremely high salaries because they not only instil in their employees the belief that their knowledge will enable them to obtain high pay scales, but also help them develop their uniqueness in their respective fields as they are leaders in them with prestigious clients all over the world, giving the employees high job satisfaction with the experience they gain from working with those firms.
Conclusion
Consequently, based on the information just mentioned, we can draw the following conclusions about the top Indian law firms that made the list of those that pay the highest salaries- Khaitan And Co., Cyril Amarchand Mangaldas & Co., Talwar Thakore and Associates, Shardul Amarchand Mangal das And Co, S&R Associates. We cannot, however, guarantee that these will always be the same.
The firms may choose to increase or decrease the salary scale depending on internal and external factors like governmental policy, changes in the economy, etc. The list could also get a few. Additionally, Vakilsearch also provides more appropriate knowledge and assistance on legal aspects. We are one of the most sought-after law firms in india. Get in touch with us to solve your legal Advice easily.
Frequently Asked Questions
What factors determine the salary structure at top law firms, and how does it vary among different firms?
The salary structure at top law firms is influenced by factors such as experience, expertise, practice area, and the firm's market positioning. Diverse factors contribute to variations in salary structures among different firms, including client base, geographical location, and the firm's financial standing.
Do law firms in specific practice areas or specialties tend to offer higher salaries than others?
Yes, law firms specialising in lucrative practice areas such as mergers and acquisitions, corporate law, and private equity often offer higher salaries compared to firms focusing on less lucrative areas.
How is the salary progression for lawyers at top law firms, and what criteria influence salary increments?
Salary progression is typically tied to years of experience, individual performance, client development, and contributions to the firm. High-performing lawyers, especially those securing significant deals, may experience more rapid salary increments.
Are there additional perks or benefits, aside from the base salary, that lawyers receive at high-paying law firms?
Apart from base salaries, lawyers at top law firms often enjoy benefits like performance bonuses, health insurance, retirement plans, and opportunities for professional development, contributing to an attractive overall compensation package.
What qualifications and experience levels are typically required to secure a position at a top-paying law firm in India?
Top-paying law firms generally seek candidates with outstanding academic records, prestigious law school backgrounds, relevant internships, and prior experience in specialised practice areas. Higher qualifications and extensive experience often correlate with higher salaries.
Do top law firms have specific criteria or performance metrics that impact the annual bonuses awarded to lawyers?
Annual bonuses at top law firms are influenced by factors like billable hours, client development, successful case outcomes, and overall contribution to the firm's success. Meeting or exceeding predefined performance metrics can lead to substantial bonuses.
Is there a significant salary difference between law firms based in different cities or regions in India?
Significant salary differences exist between law firms based in different cities or regions in India. Firms in major financial hubs like Mumbai and Delhi often offer higher salaries to align with the higher cost of living.
How do law firms attract and retain top legal talent through competitive salary packages?
Competitive salary packages, coupled with a positive work environment, mentorship programs, and opportunities for career growth, help law firms attract and retain top legal talent. Reputation, challenging work assignments, and a commitment to work-life balance also play crucial roles.
Are there industry trends or changes that influence the salary structures of top law firms in India, and how can aspiring lawyers stay informed about these developments?
Industry trends, economic conditions, and changes in legal regulations can impact the salary structures of top law firms. Aspiring lawyers can stay informed through legal publications, industry reports, and networking within the legal community.
