there was a time when young lawyers used to feel grateful if senior lawyers took them under their wings. They would most of the times work for peanuts. Sometimes even for free and felt pretty obliged to do so because they felt that they were learning the tricks of the trade from an established master which would help them in the long run to set up a flourishing practice of their own later in their career. It was more like the “guru-sishya parampara” of the early vedic ages. It was often said that a lawyers career started out after he hit 40.
Times have vastly changed in the post globalized world. Law is one of the most lucrative professions with start up lawyers drawing salaries which would put even the proverbial GOMBAs (grossly overpaid MBAs) to shame. To draw a comparison a law firm is different from a manufacturing unit which buys heavy machinery to manufacture their products. In a law firm the work is more on the intellectual side and the lawyers are the machines. Just as the best machines come for a price so do the best brains. And if you are not willing to spend enough to buy the best brains the end product, going to the clients is definitely going to be shoddy. Coupled with that is the imminent threat of the entry of foreign law firms in India with sky high retainer fees being paid to their associates which would definitely wipe out the old guard law firms which havnt changed with times. Either you pay according to the market standards or you perish in the competition. The writing is clear on the wall.