Why Study Law ?

Several law students opt to work with the in-house legal department of a corporate after graduating from law school. Legal managers play a critical role in the functioning of a company, and are responsible for drafting, vetting, and in several cases, negotiating contracts for the company, ensuring and monitoring compliance with laws, and handling legal disputes that the company may be involved in. Corporate counsel are required to interact with several different functions in a company, understand business and operations needs, and serve these needs in a manner that is both suitable and legal. Exposure to some of the best legal minds in the country is a given, as corporate counsel 'brief' leading lawyers who appear for the company in courts and tribunals. GE Capital, ICICI Bank, ITC, IBM, Infosys, Satyam, Wipro, Dr. Reddy's, Biocon, Pricewaterhouse Coopers, KPMG and HLL are some corporate giants that frequent law school campus recruitment programmes.

Starting salaries are high, and are comparable with those offered to graduates from management institutes. Offers can go as high as nine lakhs a year. In addition, companies often offer various perks over and above the salary: accommodation, club-memberships, vehicles, coverage of medical expenses and soft loans, to name a few. While starting salaries are high, increases in salary are often fewer and far between than they can be in a law firm or in practice. A company job, however, does offer tremendous security and very good pay throughout your career. Hard work is recognised, and is rewarded through growth within the organisation, and you could reach the board of directors of the company. (M. K. Sharma is the Vice-Chairman and legal head of HLL.) Some corporate houses offer the opportunity to take on management and marketing functions to those that display an ability and competence to take on these functions. A degree in management is a great boost to your career if you decide to do so.

The traditional career path for a lawyer, is to "go into practice", or join the chambers of a senior advocate as his junior. The traditional image of a lawyer is based on this career option. Regarded by many as the true calling of a lawyer, this option involves arguing in court on a daily basis, and applying your mind to a plethora of different issues in order to win the case for your client. There is, of course, scope for specialisation even in this field - some lawyers practice criminal law, some company law and at a later stage, even constitutional law. A legal practice is much the same as a medical practice - if one serves the needs of clients well, they will return and refer others to you, and one's reputation will grow, so that even more clients are attracted to you. Typically, a junior works with a senior to gain experience, until he is proficient in the profession. After that, one stays a junior, more or less permanently, or, as the more successful ones do, one can either inherit one's senior's practice when he retires, or split away to establish one's own practice.

This career option promises the greatest challenges, and the greatest rewards. The most famous lawyers in the country have all followed this career path - K.K. Venugopal, Fali Nariman, and Soli Sorabjee to name a few. Successful practicing advocates make by far the most money in the legal profession. The top lawyers in the country charge Rs.50,000 to Rs. 1 lakh per appearance, in court, and appearances may often last for just a few minutes. Similar fees are charged for rendering a legal opinion on a case. The advocate's juniors usually do most of the research and drafting work, and the senior formulates opinions and arguments. Since each appearance usually does not last very long, advocates can make a number of appearances for a quite a few different clients in each day. Naturally, one has to weigh this against much lesser pay (anything between Rs.2,000/- to Rs.8,000/- per month) in the early years. Law school is a great place to start laying the foundation stones of a successful practice, since you can make contacts and choose the right lawyers to work under here. Despite the fact that the amount that juniors are paid by their senior advocates is quite paltry, graduates from prestigious law schools often fare better in terms of the amount that senior advocates are willing to pay.

Except for those fortunate ones with lawyers in the family, the rest of us grew up thinking of lawyers as black & white social outcasts chirping the occasional 'mee lord' in B-grade bollywood flicks. Most of us never even contemplated law as a career option when we made those vital decisions of picking careers. However over the last decade the popular perception of the law degree has changed dramatically. Law has become a strong and versatile career option inspired by world class law schools such as the National Law School in Bangalore and subsequently NUJS in Kolkata, NALSAR in Hyderabad, NLU in Jodhpur and NLIU in Bhopal. The older institutions such as the legendary Government Law College in Bombay and the equally famous Faculty of Law in Delhi have responded positively and pruned their curriculum to face up to the challenge. The result - the five year law degree has all the ingredients to make it a excellent career option.


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