Amarchand breaks the mould with two Mumbai lateral hires
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Top Indian firm Amarchand & Mangladas & Suresh A Shroff & Co has taken the highly unusual step of making two lateral hires - just a few months after it shook up its lockstep and internal governance.
Amarchand has recruited Tushar Mavani, a corporate partner from Mulla & Mulla & Blunt & Caroe and Ashish Jejurkar, head of Luthra & Luthra’s Mumbai corporate practice.
Amarchand managing partner Cyril Shroff told The Lawyer: “These two people have the right temperament and drive to be part of our vision.”
“There’s impetus and a desire to grow our firm, both in terms of influence and numbers.”
The dual hire will take the number of partners to 42 across its five offices in Mumbai, Delhi, Bangalore, Hyderabad and Kolkata.
The firm has also announced the promotion of Bangalore senior associate Ganesh Prasad, who will relocate to Mumbai and join the partnership next year.
The move comes in the wake of a far-reaching restructure of the firm’s partnership and corporate governance, revealed by The Lawyer earlier this year (23 February).
Having operated an eat-what-you-kill system for two decades, Amarchand became one of the first firms in India to implement a lockstep.
Shroff said: “Lockstep has a more equitable feel about it. We wanted clarity in terms of compensation and that is very important in creating a long-term institution.”
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Readers' comments (24)
Anonymous | 18-May-2009 10:57 pm
Thank you for answering my queries about Indian recruitment.
If it is not too much to ask, can you give me some ball-park figures for associates (junior or mid-level) at these firms? As you said, I understand that these are totally arbitrary, but a near-estimate would immensely help.
Also, to come in as an associate, how many years of US experience would I need?
Thank you once again for your responses.
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Anonymous | 19-May-2009 10:11 am
If you want to move as a Sr. Associate you should ideally have 4 years work exp (however depending up on the brand value of your current firm and the market condition you might get away with 3). Amarchand has a band for 3-4 year associates (which apparently is 21 lahks to 30 lakhs including bonus); Luthra is rumoured to its 3 year associates about 150,000 per month (no idea about their bonus structure), JSA/AZB/Trilegal all in the range of 110,000 to 130,000 at a 3 year level (no idea about bonus again).
You can get a job and do well without a "famous" surname - you are seeking to join a law firm not the congress!.
As for your chances to progress without "family connections" in India- it is as easy or as difficult here as it would be in New York without an american accent
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Anonymous | 19-May-2009 3:07 pm
Thanks for the info on salaries. Although, I am a tad-bit surprised at the pay levels at JSA/AZB etc, I am sure the dwindling economic conditions have had an impact on the salaries, just as they have been here in the US.
In the meantime, I found this article on the web which lists associate salaries at much higher levels, but then again, this is from last year, so economy might have definitely made its impact in the meantime. (http://economictimes.indiatimes.com/articleshow/2899511.cms)
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Anonymous | 19-May-2009 5:53 pm
The above salaries are at a 3 year level - SA is slightly higher. Some of the firms have differential salaries so it is difficult to pin point a market average
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