A career in Law is always valued. It is considered to be a noble and respectable profession. But, most of us assume a career in law is just litigation and we assume it is just a hit or miss option because of the large number of advocates enrolling every year. While law as a career is very promising in most of the countries, in India, we lack the knowledge of the vast options in this field. Only few of the young lawyers find out the real prospects and soon, they migrate to developed countries. Rest of the budding lawyers are either confused or they confine themselves to litigation. Hence, Campus Reporter tries to find out the current and future prospects of law as a career.
A law degree is a gateway to a career in litigation, but, it's not the only path one can choose! There are further options currently and certain areas are in their evolutionary stage. Globalisation has in fact increased the demand for diverse type of legal analysts, compliance analysts and corporate lawyers. The post-industrialisation world developed demands for environmental lawyers. The need for human rights lawyers arose after the World Wars. So, several economic, social and political changes since the last century have developed need for law graduates in various fields.
1. Corporate Lawyers: They ensure legality in commercial transactions. Bernstein quotes them as 'handmaidens of the deal'. They must have sufficient knowledge in the areas of law of contracts, tax laws, insolvency, bankruptcy, mergers, acquisitions etc. The career may begin as a lawyer in a firm. But, the demand, salary package and autonomy makes it a very attractive career. Some of the major corporate law firms in India are Khaitan and Co. , Cyril Amarchand Mangaldas and Co., Trilegal etc.
2. Arbitrator : We are well aware that trials in courts are quite expensive, lengthy and tiring. It may take even several years to solve a dispute. To tackle this situation, alternative dispute resolution methods are adopted by big firms and companies. Arbitration is one such method. In this method, the dispute is resolved by an impartial adjudicator (arbitrator). Usually, firms entering into contracts for joint transactions may add a clause in their agreement that if any dispute arise, it shall be dissolved by an arbitrator. This saves up their time and also helps them to find out amicable decisions without arrogance or hatred. After getting law degree, one can take up a course on Arbitration in India itself. There are many institutions which provide such detailed courses like the Institute of Cost Accounts of India, the Indian Institute of Arbitration and Mediation etc. An arbitrator is paid for every hour he sits down to resolve the conflicts!
3. Judge: For those law graduates who are passionate about imparting fairness and equity to the common man, judiciary is a worthwhile option. One can apply for lower judicial examinations, for instance, Kerala Judicial Services Examination and clear it and get into the subordinate judiciary. With promotions on time, one can reach up to the position of Chief Justice of India! Dedicated efforts, time and stress management and meticulous study of the law can help you clear the Judicial Services Examinations. The salary package, the nobility of the profession and respectable position in the society makes a career in the judiciary even more attractive.
4. IP Lawyers: Intellectual Property (IP) means the creations of mind like inventions, designs, artistic and literary works. IP lawyers help clients to establish and protect intellectual capital, license inventions, draft licensing or transfer agreements, negotiate settlements etc. IP lawyers must be well-versed in laws governing trademarks, copy rights, patent and competition. Because of the rapid development in science and technology and rise in IP crimes, the demand for IP lawyers are increasing. IP lawyers get an average salary of Rs. 1 crore per year!
5. Environmental Lawyer: Environmental law is the collection of laws, regulations, agreements and common law that governs how humans interact with the environment. It encompasses areas like water and air quality, waste management, agriculture, biodiversity and sustainability strategies. The primary duty of an environmental lawyer is to represent clients in environmental matters, advocate for development in public policy in matters of ecology and academically write on the issues. As the world becomes more conscious about what humans are actually doing to the earth, the demand for environmental lawyers will also rise!
6. Healthcare Lawyer - Health attorneys assist clients like big pharmaceutical companies, hospital groups etc in compliance process, insurance and third-party payer system, clinical trials etc. Likewise, healthcare lawyers also must fight fraud and abuse in the health care system and medical malpractices. General medical and surgical hospitals pay their lawyers an average of Rs. 5000 - 10000 per hour!
7. Foreclosure Lawyer: As the economy deteriorates, more home owners are struggling to keep up with the payments. Outdated state laws and excessive penalties are exacerbating the national foreclosure epidemic. The foreclosure crisis across the world has created a growth in foreclosure laws and a demand for legal professionals who can help protect the rights of lenders, investors, business owners and home owners and guide them through foreclosure process. Foreclosure lawyers can also step into the roles of credit counselors. The average salary is Rs. 82,00,000!
8. Sports Lawyer: A sports lawyer act both as a lawyer and an agent to represent legal and financial interests of clients like players, coaches and teams. They speak up and negotiate multi-million dollar contracts. Law graduates passionate about sports can definitely excel in this field. The annual salary package is an average of Rs. 1 crore.
9. Media Lawyer: Media is becoming more and more dense in its essence. Likewise, regulations of the telecommunications, IT, broadcasting, advertisement and entertainment industries are on the rise. A media lawyer helps the clients to draft and negotiate contracts, compliance process, and represents them in litigation. The salary package is Rs. 50 lakhs per year.
10. Human Rights Lawyer: Becoming a human rights lawyer means advocating for people who have suffered from injustices, persecution, torture, civil rights violations etc. More than salary, the focus is placed on the humanitarian concern. A human rights lawyer can represent the clients in high courts, Supreme Court and even at International Courts.
11. Maritime Lawyer: Maritime law is the field that governs behaviour and activities in the seas, primarily, in the international waters. A maritime lawyer focuses on maritime industry in whole and even represents clients in accidents or misadventure at the sea. A specialised degree or course in maritime law is preferred. The salary ranges up to Rs 1 crore and above per case!
These are some of the budding areas of law, where law graduates can find attractive careers in the 21st century. Law is organic in nature. It evolves along with the changes in the world. While these careers are lucrative, civil or criminal litigation in the domestic courts can also make you a successful lawyer. It all depends on the efforts and time you put in.
Some final tips: In case you want to choose any of the careers in law except normal litigation, it is better to start preparations right from your law school. Try to choose which area you want to excel in at least in the final year. Certificate courses and diplomas are offered by National Law Schools and various institutions and law firms. Always try to portray your interests and excellence in the area you are choosing in your resume. Build a resume which shows that you have put in hard work in that specific field right from your law school days. Try to do internships at firms related to the area of your interest. Attend moot court competitions, arbitration and conciliation, client counselling competitions, research paper writing contests etc as all of these sharpen your lawyer skills! Try to research on how successful and accomplished lawyers manage their life and career. Read about Nani. A. Palkhiwala, Ram Jethmalani, Thomas Mesereau, Mark Geragos etc.
A lawyer is supposed to have a primary understanding of all the subjects in the world!! Finally, never forget, being a lawyer is definitely hard work, patience, consistency and time management.