There are multiple options available these days that make an excellent choice for a career in terms of remuneration. However, of all the popular choices, practicing law is a critical one in terms of both salary and reputation. When it comes to earning, the profession of law not only offers a lucrative pay to the advocates but also lends them much-desired esteem and respect in the society for standing stout in favor of justice. Hence, pursuing your career in law will only bring you near to a fulfilling career with lots of career opportunities to explore and a bright life ahead.
The earning potential of a lawyer largely depends on the level at which he/she is practicing. There are complex hierarchies involved in the setup, and there are various positions available in the profession of law. Hence, while joining the studies of law, it is essential that you fix your goal first and then act accordingly. Provided below is a brief overview of the various profiles in the professional of a lawyer and their respective earning potential.
Organized Sector Lawyers
The first and the foremost option that remains open to a law graduate is to join the public services at different levels of courts of the country, which, in other words, means bagging a public sector job. Apart from the security it entails with the profile, the respect and the remuneration are what you gain in addition. Earning in lakhs per annum being a high court or even a lower court lawyer is never a problem. People recruited under the Supreme Court clerkship cadre receive an annual package of 3 Lakhs which is an impressive amount for a beginner level job. With years of experience and expertise, the earning potential grows by leaps and bounds.
Besides the organized sector, the other significant segment that accommodates the lawyers is the private sector as corporate lawyers. With considerable years of experience and exciting cases dealt in past, any corporate lawyer can earn anywhere from 4.5 Lakhs per annum to 11 Lakhs per annum effortlessly depending on the individual skills and reputation earned over the time. Moreover, with the excellence in work and effective handling of cases, one may grow immensely in terms of career and fame being in the corporate domain of advocacy.
The most popular way to earn substantially by pursuing as a lawyer is to indulge in Private practices. This refers to a kind of self-employment and any person involved in such practice is sure to earn huge with rightly chosen cases and hands-on experience. With more cases coming in, the reputation and recognition both increases and so does the earning potential. Independent lawyers in India have been observed to earn in crores at many of the instances. There are advocates in our country who make 1 to 2 crore per annum consequent upon their years of experience and skilled ways of handling a case.
Law Offers a Gamut of Opportunities
With so many opting for the law as a profession, there never rises a scope for saturation as the channels offered by this profession remains varied. Being a lawyer, you can always opt to become an estate planning lawyer, personal injury lawyer, bankruptcy lawyer, employment lawyer, intellectual property lawyer, immigration lawyer, a corporate lawyer, criminal lawyer, tax lawyer, medical malpractice lawyer, family lawyer, contract lawyer and much more to add to the list. There are hierarchies involved in the system as well that make for better opportunities to earn with the growing level of experience. An entrant level lawyer will get ample chances to attain the position of advocate or attorney in the future to earn lucrative packages. The variety, scope, and the flexibility of this profession add to the earning potential of this domain at every layer.
We, at Lingaya’sVidyapeeth, a Top Ranked law College in Faridabad, believe in making the scope of education broad and the methods of learning more comprehensive. Our elaborate yet compact modules of LLB courses focus on enabling the students to explore the relationship between law and culture, and thereby establish a concrete foundation that delivers to the norms of fundamental law and its maintenance in a socio-culturally varied land like India. The research-based approach, the experienced faculty, the special legal aid cell, and the related co-curricular activities contribute to the overall progress of our students pursuing 3 years LL.B or 5 years BBA-LLB here at Lingaya’s. With the dedicated and professional guidance extended to each student at Lingaya’sVidyapeeth, you are sure to make the best of your fortune by pursuing the practice of law as your career.