With the growth of the corporate legal sector, the salaries and bonuses paid by India’s top corporate law firms to graduates from premium law schools have in many cases doubled in the last five years and now often top Rs. 14 lakh per year if bonuses are included. The trend is linked to the gradual improvement in the quality of legal education and law students, which began in earnest after the first young lawyers entered the workplace from the National Law School of India University (NLSIU) in Bangalore in the mid-1990s, followed by other institutions such as Nalsar University of Law, Hyderabad; The WB National University of Juridical Sciences (NUJS), Kolkata; and National Law University (NLU), Jodhpur. Salaries rocketed following the availability of bright young lawyers and the increasing need of corporate law firms to attract them to staff their transactions in a booming Indian economy.
And the demands in the profession have increased. Finally, international law firms, unable to open offices in India due to local restrictions, have also been recruiting from Indian law schools to build up India-related expertise abroad.