Though lawyer is one of the highest paying profession but, for a fresher the basic income starts between 2 lakhs to 4 lakhs per annum. But this salary
Though lawyer is one of the highest paying profession but, for a fresher the basic income starts between 2 lakhs to 4 lakhs per annum. But this salary is not fixed to this range. There are some big firms like Deloitte. PWC, KPMG, E&Y who hire lawyers and the salary they offered them ranges between 6 lakhs to 8 lakhs per annum. Not only this, you will also have the opportunity to earn on your own and in that case you will have endless opportunity to earn. In economics, there is a term, ‘Price Discrimination’ and this is applied in case of lawyers. Which means, you can charge your clients based on their bank balance. For example, for the same case or for the same service, lawyers charge high from the rich clients and low from the poor clients. So, you will have unlimited opportunity to earn but this depends on how good and experienced you are in the field of law. Experience factor matters a lot, as people always prefer experienced lawyers to take care of their cases and same goes with organizations and government also. So, with the rise of experience you will earn more and more, with it specialization also have some effect on what you will earn, but, this is not an issue to worry about as if you can be experienced enough in the field of law, you can earn good pay packages from any specialization.
Rewards don’t stop here, as there are also some indirect benefits like,
Lawyers are considered as prestigious citizen. So, with you become lawyer, you will have the prestige and power.
ii. Opportunity to help others:
Being a lawyer means not only to earn for your own. You can do some good act also by helping others by various means, and this gives a self-satisfaction.
iii. Global influence:
Lawyers have a great power by which they can reach to any place without any obstacle.
iv. Diverse practice area:
Lawyers have the opportunity to take many specializations as their area of study, so they are not bound to one area, they can explore the other areas of law also.
v. Transferrable skill:
Even if lawyers do not practice law in courts, for the government or in the corporate. They can transfer their learning in some other areas also, like in management, writing etc.