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Hi Fishes,
I am currently working world's largest beer company. I have current CTC of 25 LPA and I am expecting hike of 10% at least within the company.
I got interviewed at Pepsi Co for Lead -2 position and have cleared all the rounds. How much can I expect, I have just asked 30% on current CTC.
Please do let me know as it will be very helpful. Do they provide relocation allowance, do i need to submit any documents for them. Also, do they offer any joining bonus?
Pepsico
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Depends on the track. If you were on a 2 year partner track as counsel and the new firm would give you a 2 year track as an associate, then go ahead. Also compare what the upside is long term; going from a firm with PPP of $600K to one with PPP of $1.4M is a huge difference down the road.
If you have a good track to counsel (or partner) at the new firm, I would definitely say no. Make sure you ask the right questions to dig into this. I’ve technically traded “up” a couple times in my career before making partner and it has gotten me to a good spot.
You would know more but don’t you have to pay for your own insurance as counsel? So the the pay bump should be even more pronounced right?
Are there known differences between associate and counsel that apply to all firms? I thought ‘counsel’ was just senior associate by another name. Educate me please!
Exactly what the preceding author said. There are firms where "of counsel" and "counsel" are the same, i.e., basically an independent attorney (or a partner emeritus) who has a 1099 relationship with the firm, is allowed an office space and use of the firm equipment but does not have an hours requirement and is basically on an eat what you kill diet (usually).
Used to be 7 years and partner, or out the door. Firms have stretched that to 9-10 usually, but some places have put in a stepping stone position for years 8-12 (usually you have to be 8 years out to be eligible) where you're basically a finished product but you get some extra years to build your book. It's hard to attract clients as an 11th year associate, so the title sounds nice, it usually comes with a salary bump, you're usually still a W-2 and you're in the top of the bonus pool. At my firm, it's still a partner track position.
Other firms, it's the alternative to partner track; you aren't going to be partner, so it's a permanent attorney position (some places call it senior counsel or just attorney, titles are all made up anyways outside of partner). Get clarification early so you aren't slotted on the wrong side of the tracks.