https://www.lawfuel.com/london-law-and-neel-sachd…
“Reports indicate that Sachdev is on a deal valued at around $60 million over three years. Top lawyers in the City have been offered major packages – mainly from the insatiably aggressive Kirklands – but this deal is regarded as one of the biggest yet.”
Thoughts?
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I don't know anything about comp for lawyers, especially not in the UK.
But some people are just very good at PR/marketing themselves. Some of our MDs started marketing their own persona from an early start, others have never touched social media and nobody knows who they are. There is a gap in earnings between these two types.
Damm. Some people just have luck with genetics. That guy probably worked a lot of 100h weeks over the last 20 years and still looks so sharp in terms of skin, hair, general appearance.
How is that possible.
He looks like a stud, good for him
.
It is a sign of a declining civilization to have lawyers paid this much. People are rewarded tens of millions for navigating an overly regulated, bureaucratic and overly litigated hellscape more so than entrepreneurs, industrialist CEOs, and other movers, doers and CREATORS.
Said without a hint of irony of the role investment bankers play. I don't disagree that lawyers, particularly corporate and regulatory especially, can be bullshit jobs, but everything nearly everything in finance is as well.
This is the nail in the coffin for IB in LDN. No LDN banker is on a package of $60m over 3 years.
At the very senior levels, bankers were always underpaid relative to lawyers in London
Care to elaborate?
Anecdotally from former lawyers turned bankers, the average MD will comp lower than the average Partner at a Magic Circle firm. Makes perfect sense when you think about actual dealflow. Unlike bankers who can spend months pitching / formulating ideas and position with clients, lawyers don't really pitch and M&A is pretty much flow business for them. Also, deals don't always have bankers advising but they always have lawyers. However, the 60m package for Neel is obviously an outlier.
Saw another partner at Kirkland who bought the $38m mansion recently lol. What world do we live in
https://www.fnlondon.com/articles/kirkland-ellis-partner-michael-steele…
in the real world, a world that is waaaay different than what some kids scream around here i.e. IB > Law!!!!1111
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