The competition today is tough and with around 6000[1] law graduates graduating each year makes the competition even more tough, since there are not enough jobs in the market. But, things are not bad too, as per the latest report of Legally India, there was an increase of 9% this year when it came to hiring freshers. Even if you are not hired by a top-notch law firm in India, do not get disheartened as there are other options open too, and they really pay well.
The legal career is not a last option today, as it was 20 years ago. Today, brilliant minds and young graduates choose this field and make a remarkable mark in the society. The legal career may stretch from a junior associate in a law firm to a judicial clerk in courts. Salaries can range from minimum wage to nine-digit incomes, depending on geographic location, market demand, experience level, practice environment and employer size — and yes, the job itself. These are some of the most highly compensated legal jobs.
Trial Lawyers
Trial lawyers are the highest paid professionals till today and the salary depends upon the location and also the materiality and the importance of the case. Top senior advocates who handle high profile matters in Delhi and Mumbai. Senior advocates like Mr. Ram Jethmalani and Mr. Fali Nariman charge Rs. 25 Lakh + for ONE Supreme Court hearing where as Mr. Nariman charges around 8.5 Lakh rupees for one hearing in the Supreme Court of India.
Intellectual Property Lawyer
IP law is one of the most diverse fields, ranging from patent, trademarks, copyrights, designs etc. This is one of the newest and a fast-growing concept. Since it is new most of the concentration is in the big cities only like Delhi and Mumbai. If started as an IP lawyer in these cities there is a promise to grow further. This is a fast-growing area of law as technology continues to advance, and it is also statistically among the most lucrative.
Tax Lawyer
With the increase in law graduates, tax has also been given much importance. Research based firm like Nishit Desai Associates and Lakshmi Kumaran and Sridharan are the big names today when it comes to tax consulting. It is always recommended for a fresh graduate to join a tax consulting firm in India and gain experience. One can always go to individual practice after gaining experience form the firm. Since, taxation is tricky, starting as an individual practitioner just after passing out may be challenging, both in practice as well as experience. Tax attorneys work with both individuals and businesses to solve tax issues. They help with estate planning, and even with suing the Internal Revenue Service. They are often essential consultants when someone is starting a business or when contracts must be drafted. Although this type of work isn’t as flashy as that of trial lawyers, tax attorneys still bring in a decent pay checks.
Judges
In India Judges preside over the court proceedings. It is one of the lucrative profession and one can join the judiciary just after passing out from law school as a law school graduate. It may be not one of the highest paying jobs in India in the field of law but in India, judges hold very high amount of respect and enjoy privileges and perks. Judges are considered to be one of the best in the field of law and apply mind and has an ability to decide the matter as per the facts and laws applicable. Recently, the salary of judges has been increased by 300 percent.
The salary of Supreme Court judges range between 2.5-3lakhs per month after the increase in March 2017. Prior to the increase the salary ranged between 90 thousand – 1 lakh/month.
Law School Professor
Teachers play an important role in the development and shaping of the future of the future lawyers. Teachers though work day and night and makes sure the candidates over all development, gets a decent salary in India and enjoys respect in the society.
Salary of a junior level teacher ranges from Rs. 30,000 and a senior professor gets a remuneration of Rs. 90,000[2]. To qualify as a professor or an assistant professor it is mandatory to pursue LLM degree after completion of LLB.
Law Firm Associate
Becoming a law firm associate in a tier I law firm or a tier II law firm takes a lot of patience, hard work, interpersonal skills and also dedication. Since, the competition is tough, law firms mostly recruit individuals who are the cream in the business and are promising. Entry in a law firm can be through internships, recruitment through college placements or through self-job interview. In India, the tier I law firms pay a salary of 12-18 lakhs per annum for a fresher and if a fresher can make a mark and achieve heights in the firm and can reach to a position of a partner, the salary would range from around 70 lakhs to 1 Crore or more.
Work for Public Sector Units
Job at a PSU is the ultimate dream of someone with little ambition, one who is satisfied with little work, no competition and foolproof job security. However given that the median age of the Indian population is in the early 20s so the competition for every post every seat is very stringent. Thus it helps if you can piggyback on a good college or university. PSUs recruit people through either a written test (open the employment newspaper and you would find myriad of jobs with their examination schedules) OR through direct recruitment from campus. The salary are awesome here in PSUs with lot’s of privileges.
It is advisable to choose the field of law in the 4th Year of your law school (like, securities law, tax, IP law, Litigation etc.) and work only on that. After choosing the particular field, start interning in firm/ advocates and senior advocates who deals only with that aspect so that you can sharpen that skill by the end of the fifth year. This will help you to crack an interview easily and fetch a job right after college if you hone the skill properly. Avoid choosing different fields as it will stress you out and you will end up with nothing at hand.
If you are from a tier II law school and not from a tier I law school in India, don’t get disheartened. Life is easy (not very easy) in top 3 law schools in India, but for rest of the law school, it only depends on the student and his/her skills. If the student is skilful, hardworking and dedicated, the college where he/she is studying will not matter.
Good luck!
References:
[1] Considering top 30 law schools in India having 200 graduates in final year batch.
[2] Based on information provided by Gujarat National Law University (https://www.fresherslive.com/govt-jobs-india/gnlu-recruitment-2017-01-vacancy-teaching-and-research-associate-llm-25000-salary-march-25-2017/)
