India Law Firm Compensation Trends 2024-25
We are happy to release a snapshot of comprehensive median compensation trends across Indian law firms within the Large and Mid-sized category. This annual benchmarking exercise is drawn from our extensive work across the legal talent market, helping law firms and professionals make better-informed decisions.
This year, we observed a clear upward trend in compensation across law firms, driven by market dynamics and retention priorities. Overall, the year-on-year increase ranged between 12% and 20% across firm categories — a reflection of both rising demand and sharper competition for top legal talent.
As always, we’re sharing the Median (50th percentile) compensation figures for professionals with PQE ranges up to 10+ years which starts from Associates and goes up to Salaried Partner across Large Firms, Mid-Sized Firms and & Boutique firms.
| PQE (in years) | Large Firms | Mid-Sized Firms | Boutique Firms |
|---|---|---|---|
| 0-1 | 17.3 | 9.3 | 7.34 |
| 1-2 | 20.5 | 11.4 | 8.16 |
| 2-3 | 24.5 | 14.0 | 9.35 |
| 3-4 | 29.0 | 17.5 | 11.00 |
| 4-5 | 39.6 | 26.2 | 15.22 |
| 5-6 | 43.3 | 30.2 | 17.73 |
| 6-7 | 53.3 | 34.6 | 21.00 |
| 7-8 | 63.5 | 43.8 | 27.83 |
| 8-9 | 70.5 | 49.9 | 33.94 |
| 9-10+ | 78.3 | 59.5 | 40.22 |
| 10+ | 104.9 | 80.4 | 62.31 |
Note: It would be pertinent to note that the compensation figures included in the report refer to total compensation received by professionals.
Within law firms, total compensation refers to the total fixed retainer and an annual variable bonus. The total compensation figure does not include any additional financial incentives or emoluments related to bill shares or any additional discretionary bonuses that may be occasionally paid to professionals.
Our Paid Compensation Report offers a comprehensive breakdown of compensation trends across:
- 25th, 50th, 75th, and 90th percentile bands
- Roles from Years of Experience ranging from 0 to 10+ years, with roles starting from Associate to Salaried Partner across categories of firms.
- Fixed, Variable, and Total Compensation
- Comparison across Large, Mid-Sized, Boutique, and now Premium Boutique firms
- Customisable benchmarks for specific firm cohorts
Over the past year, we’ve observed the emergence of a distinct category of firms that are punching above their weight — combining boutique agility with compensation models that rival those of larger firms.
These Premium Boutique Firms are characterized by high billing rates & compensation. What sets them apart isn’t just client pedigree — it’s their structured approach to compensation.
From performance-linked bonuses to mid-to-senior level payouts matching Large Firm standards, these firms are redefining what boutique careers can look like. For professionals seeking high-quality work, greater ownership, and competitive pay, Premium Boutiques represent a compelling third lane in the legal market.
This year, we’ve captured their data separately — helping you see how compensation trends are shifting, not just between firm sizes, but within the boutique landscape itself.
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