Due to the pandemic, Cyril Amarchand Mangaldas had, for certain categories of lawyers, tweaked the ratio of fixed to variable compensation, moving some amount of fixed compensation to variable.
Cyril Amarchand Mangaldas has reviewed its decision to defer the salaries of its lawyers amid the COVID-19 pandemic. The firm has now decided to reverse its decision announced in April and go back to its regular pay structure with effect from April, 2020.
Due to the pandemic, Cyril Amarchand Mangaldas had, for certain categories of lawyers, tweaked the ratio of fixed to variable compensation, moving some amount of fixed compensation to variable.
About 20-30% of the fixed compensation of the salaried partners was moved to variable compensation for this financial year. For Principal Associates/Senior Associates, it was around 10-15%.
As per reliable sources, the firm has now reversed its earlier decision and is paying the entire original fixed component effective April 2020.
There was no change for Associate-level lawyers, junior employees, and other staff of the firm. Effectively, there will be no change in the compensation structure for lawyers with an annual package of Rs. 25 lakh and below.
