Make crime pay. Become a lawyer - Will Rogers
What can you do with for a career with law degree? It is a question that many young, law graduates or aspirants seem to struggle with. But this is not because there is a lack of lawyer jobs or because it might be difficult to clear the Bar Council exam in India. The fault lies with the larger education system that doesn't emphasize enough on the importance of career counselling and the bar exam India. If you actually seek the services of a good counsellor who maybe professionals or someone experienced in the field that you personally know, you will actually be surprised to find out the types of lawyer jobs that are up for grabs in India and the world.
So, if the question that is really baffling you is this- what to do with a law degree, then this article will give you a few good reasons to keep pursuing your dream of becoming a lawyer and your passion for justice. The legal career track that lawyers choose is very important to uphold the judicial system of a country. The role of a legal advisor or solicitor goes far beyond just winning cases on your behalf. Good lawyers become lifelong advisors not just on legal matters but in other areas as well.
What to Do With A Law Degree in India?
There is a wide and diverse range of jobs that once can pursue as a lawyer. You can practice in court or become a legal advisor to a top-rated corporate or even pursue a career in journalism or academia. Whatever be the field of your choice, a law degree will equip you for a significant number of lawyer jobs.
Best Law Career Options for Students
Chief Financial Officer (CFO)
Of the many careers that solicitors choose, this is a lesser-known option. Students in legal training aren't really exposed to the idea of becoming an employee of a corporate house if they have a law degree. A CFO is someone who ensures the financial well-being of a company and works closely with the CEO. Most of you don't know this, but a CFO is also concerned with handling the legal and accounting matters of a company, which makes this position so important.
Most insurance companies need solicitors or legal advisors who can investigate insurance claims or help in training other employees to do so. An insurance adjuster plays the critical role of making recommendations and approvals to determine whether the insurance company should settle a claim or not. Which, in turn, may or may not save billions of dollars for the concerned entity.
Human Resource Manager
This one is a bit of a surprise. Who would think that HR can also be a career with law degree? Remember that the main role of a good HR person is to be formulate and execute effective policies and processes. As a student of law, you get familiar with most such processes that you can easily apply in your own firm.
Certified Public Accountant (CPA)
The job of a CPA is to examine all statutory and legal documents and to ensure an entity (individual or company) adheres to the country's tax laws. A CPA is also expected to assess financial operations of a client and make suitable recommendations to improve performance.
Negotiator and Mediator
This is probably the most famous of all lawyer jobs there is in the world. As a solicitor or legal advisor, you must guide conflicting parties to come to the negotiation table and settle according to mutually agreed upon parameters. This avoids awkward and often strenuous court battles that are draining both financially and emotionally for all parties involved.
The Best Lawyer Jobs in India
Do you want to gain work experience beyond just court arguments? Are you looking for careers that break stereotypes about lawyers? Do you really want to practice what you were taught in law school? Then check out these alternative law career options-
A highly lucrative career choice for lawyers, this one expects you to provide client advice on matters of tax liabilities and tax-saving schemes. There are multiple tax consultancy firms that actively recruit law students throughout the year. In fact, your law degree will help you fast-track your career in this domain since you will be exempt from taking many of the exams that non-law students need to take to become a tax consultant.
As the name suggests, you have to ensure that you provide the right legal advice to your clients in order for them to comply with statutory and tax regulations. Bottom-line- a compliance officer is responsible for the overall financial conduct of a company.
This is yet another less-known career with law degree. There are many publishing houses, big ones at that, that require students with a sound background in law to conduct the legal research for them. There are intellectual properties that need to be protected where the advice of lawyers is solicited.
You can even work as a business development consultant and gain experience in a wide range of domains and skills that will help you diversify further in your legal career. At the end of the day, you really must ask yourself this- what to do with a law degree? And the simple answer is this-
Give to every human being every right that you claim for yourself - Robert Green Ingersoll
The Best Law Firms to Work With
India boasts of some of the biggest law firms in the world. But most law students or even professional lawyers may not know about them, Law firms are hired by the corporate and even government agencies to fight their legal battles. Some of these law firms charge hefty fees which may go up to millions of dollars every year. So, you can very well understand that working with law firms can be a very lucrative offering both by way of income and experience.
Top 5 Indian Law Firms
- Amarchand & Mangaldas & Suresh A. Shroff & CO.- One of the oldest law firms of Indian origin, the company has been in business since 1917. Their areas of expertise include corporate law, commercial and capital markets, financial regulatory and infrastructure advice. Till date, they have employed more than 600 lawyers with offices across all major cities in India.
- J. Sagar Associate- Established in 1991, this law firm specialized in mergers & acquisitions, private equity, capital markets & securities, and taxation & dispute resolution. It has a bench strength of 300+ lawyers.
- Nishith Desai Associates- This law firm is has been in business for more than three decades and has footprints beyond India in Singapore, Pala Alto and Basel. It specializes in legal matters pertaining to international tax, corporate law, intellectual property rights, and cross-border litigation.
- Luthra & Luthra- Headquartered in Mumbai, this three-decade-old company boasts of some of the best lawyers and solicitors in the Indian market. Its core areas of expertise include corporate law, policy & regulatory, trade laws, IP and Tax SPLIT.
- Khaitan & Co.- This legal firm is even older than the first one on the list and was set up in 1911. Its core practice areas include direct & indirect taxation, capital markets, corporate law, energy & natural resources, labor & employment laws, and real estate.
Corporate Law- A High-Potential Career Track
The business ecosystem in India has seen a big boom in India in the last few decades. The corporate sector has received a big boom in terms of relaxation of statutory compliances, easing off of tax laws, and other amendments to make India an industry-friendly nation. This has created a huge demand for corporate lawyers in the industry.
Who is A Corporate Lawyer?
A specialized lawyer hired by companies to handle the business operations and related decision-making through sound legal judgement is called a corporate lawyer. This type of a lawyer provides legal advice to companies that help them follow guidelines to do business within the purview of their legal rights. As a corporate lawyer, you also need to work closely with third parties to mediate disputes and conflicts.
You can work in more than one company at one time as a corporate lawyer. This is what makes the profession so lucrative both in terms of income as well as experience and learning opportunities.
To become a corporate lawyer in India, you have clear your board exams of class 12 with a minimum score of 45% from any recognized board or university. Next, you have to clear the CLAT (Common Law Admission Test) to be eligible to take admission in any private or government college of your choice. Once this step is done, then you are well on your way to a flourishing career with law degree.