This Article is written by Nidhi Singh, 3rd year Law student from Lloyd Law College, Greater Noida.
“learn to balance a dream and a job, until your dream becomes your job”
Law as a profession is a very vast option for present generation. Best minds and fresh graduates choose this field and put their mark in the society. The legal career may start from an advocate in district court to an associate in a law firm. Salaries can be from minimum to higher incomes, depending on your experience and skills as well.
So let’s take a look on most highest paying law jobs in India…..
- Intellectual Property Lawyer
- Law firm associate
- Tax lawyer
- Trial Lawyer
- Public Sector Units
- Law School Professor
Intellectual Property Lawyer
Law is one of the most sundry fields, ranges from patent, trademarks, copyrights, designs, etc. The IP lawyer has much importance in cities like Delhi and Mumbai. This profession is rapidly growing in India and it is more profitable according to data.
Law firm associate
Law firm associate is a dream job for skillful young law graduates but it takes a lot of hard work, consistency and bit of patience. Many top law firms are paying the highest salaries to their employees in India.
The tier I law firms pay 10-17 lakhs per annum for a fresh graduate and if a fresher can glorify him in the firm , the salary would range from around 80 lakhs to 1 Crore.
Every law student should learn from a tax lawyer to gain some experience, as it is quite difficult to understand taxation right after graduation. In present times, people mostly needed to consult with a tax attorney for their tax related matters and tax lawyers get satisfying payment for their work. Their payment increase time by time and also it depends on the trickiness of taxation work which they are doing for their clients.
Tax lawyers not only deals with their clients but they also work for govt. Revenue system and estate planning etc.
There is the most competition arising profession in the legal career and also the most paying one. The salary and other benefits may vary according to the job location and relevance of the case. Delhi and Mumbai are the two high paying job locations. In Supreme courts a senior advocate charges up-to 30 lakhs for one hearing.
Public Sector Units
For every law graduate PSU can be a dream job because it has lot of privileges with job security. This is the best job for those with little ambition and if they need job satisfaction in their lives.
To be hired in PSU’s one should give a written test or they probably hire students from various campuses of law colleges.
To be a Judge is the most respected and privileged profession in India as you are the backbone of various courts if you become a judge. This is the profession in which you get several Perks and govt. allowances even after your retirement. People will respect you because you have the responsibility of justice on your shoulders.
The salary of judges increases according to their experience and year by year. So, if you are a hard worker and wanted to make a mark in judiciary, this is the appropriate and best profession for you.
Law school Professor
They work day and night and makes sure the candidate’s overall development, gets a decent salary in India and enjoys respect in society. A junior-level professor earn 30-40000 and a Senior professor could make it up to 90,000 or more depending upon the college.
Member of Parliament
If a person has an interest in policymaking and wants to understand the working of our political system then they can contribute their legal knowledge in the same. As 1/3 of the Union Council of Minister are law graduates India paid Rs.175 cr. to its 543 Lok Sabha members in salaries and perks over the last year, or just over Rs. 2.7 lakh per month per MP, new official data show.
“You can’t have a Million- Dollar dream with a minimum- wage ethic” -Stephen C Hogan
After graduation, most of the young minds are looking for the highest paying employment. Therefore, as they look for a job, every lawyer dreams of becoming an employee of a top-notch law firm in India.
The firms also select an apt employee and provide them with a “HIGH” salary depending upon the candidates –
- Qualification on the job offered
- Years of experience
- Knowledge of work
These things are also taken into consideration for a fresher candidate:
- College from which the candidate is duly qualified.
- Marks obtained in University/college Examinations.
Highest paying Law firms in India
Khaitan and Co.
April 2015, Khaitan And Co. hiked its base pay by 1.2 lakhs from the previous year’s salary of 13.2 lakhs totaling to 14.4 lakhs per annum making itself the highest salary paying employer in the country. They also give bonus of 1.2 lakhs on performance basis.
Shardul Amarchand Mangladas And Co.
As many other firms, they also hiked the base remunerations to Rs 12.5 lakhs. Also, a bonus of Rs 1.5 lakhs (Maximum) is to be given on a performance-related basis. At present, associate attorney is being paid from Rs 3,54,241- Rs 16,42,318. Thus, at no. 4 Shardul Amarchand Mangladas And Co. is paying the highest salary.
Cyril Amarchand Mangaldas & Co.
Present, the firm provides a basic pay of Rs 12 lakhs with Rs 3 lakhs of bonus based on their devotion towards the company and their work.
J Sagar And Associates (JSA)
So many years of experience, JSA is amongst the top 10 firms offering the highest salary. Currently, the base Remuneration provided by JSA is Rs 11.5 lakhs excluding a maximum bonus of Rs 1 lakh. They increase this base salary at the end of every year so it may also increase it in the future.
Currently it is paying a total remuneration of Rs 11.28 lakhs per annum and a maximum remuneration of 18 lakhs per annum which is to be paid based on employee’s performance. However, the intern is paid approximately Rs 17,348 per month and associate is being paid Rs 1,06,000 – Rs 1,13,000 per month based on their knowledge and expertise.
AZB and Partners
Providing base remuneration from Rs 9.8 lakhs to Rs 11.4 lakhs it stands on the 8th position to pay the highest salary in India.
Desai & Diwanji
As per Wikipedia, Desai, and Diwanji give the starting salary between RS 6 – 8.4 lakh.
Luthra and Luthra
In1991 by Mr. Rajiv K Luthra who started his career in 1978 is now amongst the top law firms in India and Tier I law firm with expertise in many areas.
Luthra and Luthra are providing a maximum basic salary of Rs 10.8 lakhs with a maximum bonus of Rs 2.52 lakhs which depend on their skills and expertise in their area of specialization. Also, the salary of an intern is around 6000-7000 per month, and a corporate lawyer receives somewhere between RS 1,68,000 – RS 1,82,000 per month.
Law is the basis of all other institutions. Now and then, the law is evolving and with that new opportunities are also coming into existence. But lastly, there is only one question to ask, is it about money all the time? So, taking this into concern it is important to understand that every opportunity has its worth. Money is “a thing” in the constituents of a happy life but it is not “the thing” when we talk of a successful and satisfying life. So, just go for the opportunities and knock the door, keeping in mind that apart from money there are a lot of things that can be extracted out of that position.
Also Read: List of Best Career Options In Law