Exclusive: "Our people have worked very hard through difficult times and we wanted to reward them" Trilegal announces increments for lawyers

Trilegal has disbursed increments to all its lawyers and staff members across all levels as per schedule, despite the impact of the COVID-19 pandemic.The increments are effective April 1, 2020..All increments have been done on the basis of PQE and performance of the lawyers. The increments are at par with those given out last year..Confirming this development, Trilegal Partner Nishant Parikh said,"Salary and retainer increments were announced across all levels of lawyers and staff. This is in keeping with past practice. Our people have worked very hard through difficult times and we wanted to make sure we recognize and reward them commensurately. Of course, we are watching the effect of the COVID crisis on the economy and our practice. We will respond to situations as they unfold, but for now, we felt that this step was in the best interests of our firm and our people.".So far, Trilegal seems to be the only firm among the top Indian law firms to have given increments to all levels of lawyers this year. J Sagar Associates, which usually gives out increments by June, has not announced increments yet. Neither has Khaitan & Co, which earlier announced that no changes would be made to salaries. Even AZB & Partners has not announced increments so far. Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas have made some variations in the salaries of their lawyers..In April, Cyril Amarchand Mangaldas had announced that for certain categories of lawyers, the firm had 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 has been moved to variable compensation for this financial year. For Principal Associates/Senior Associates, it would be around 10-15%..[Exclusive]: CAM Equity Partners voluntarily decide against drawing salaries for this year, tweaked ratio of compensation for other lawyers.Shardul Amarchand had decided against making any changes to the fixed monthly retainers of its lawyers, across the board. The fixed salaries would be the same as last year.The variable compensation will be linked to the firm's performance and will be paid out in equal tranches, in March 2021 and first half of FY 2021- 2022..Breaking: No cut in fixed monthly retainer for SAM lawyers, variable compensation to depend on Firm performance