The Indian legal sector has seen a dynamic and a sudden boom in the past decade. With thousands of law graduates passing out, the competition has become extremely tough. What makes it worse is that students taking up law course often remain confused as to which specialization will prove beneficial for them. Lack of proper guidance and knowledge leads the law students to pursue a course which has very less scope in the legal market. The legal industry is growing exponentially; it is just that the students need to understand the areas which are having high possibilities. With the purpose of enlightening the students on the same, we have composed this article which highlights the highest paying legal jobs.
1. Intellectual Property Lawyers: Dealing with diverse fields, ranging from patent, trademarks, copyrights, designs and so on. IP law is one of the newest and fast-growing concepts. IP lawyers are needed in the present time due to the spread of awareness regarding possession. This is a fast-growing area of law as technology continues to advance, and it is also statistically among the most lucrative.
2. Tax Attorneys: With the increase in law graduates, the tax has also been given much importance. Since, taxation is tricky, starting as an individual practitioner just after passing out may be challenging, both in practice as well as experience. Hence it is always recommended for a fresh graduate to join a tax consulting firm and gain experience first. Tax attorneys work with both individuals and businesses to solve tax issues. They help with estate planning, and even with suing the Internal Revenue Service. They are often essential consultants when someone is starting a business or when contracts must be drafted. It is a highly demanding area.
3. Judges: For one who is academically quite bright, taking up the profession of a judge is a smart decision. The highest-paid judges are those within the federal court system, while local judges and magistrates earn the least. In addition to generous salaries, most judges enjoy health benefits, expense accounts, and contributions to retirement plans made on their behalf, increasing the size of their compensation packages.
4. Human Rights lawyer: A career in human rights is both rewarding and competitive. Human rights lawyers usually get absorbed in government organizations like National Human Rights Commission (NHRC) or State Human Rights Commission, NGOs, social welfare departments, and international organizations such as Amnesty International and Red Cross. Human rights lawyers are frequently needed in the organizations working for Human Rights. They also help in the formation of policies.
5. Trail Lawyers: Considered as the highest paid job the legal arena, Trail lawyers' salary often depends upon the location and also the materiality and the importance of the case. Top senior advocates who handle high profile matters are likely to get paid fortune. Trial lawyers are the ones you see on television and on the silver screen—they stand in courtrooms and argue cases before judges and juries.
6. Chief Legal Officers: These professionals usually, head the law departments of corporations. The larger the corporation, the greater their salary offering is. Earnings for CLO's heading large, multi-national corporations can reach seven figures. In addition to base salaries, chief legal officers earn bonuses, stock options, and other perks that can considerably sweeten their compensation packages. However, getting a CLO position takes time and hard work, though—there are very few of these positions available across the country, and many require at least a decade of experience.
7. Law Professor: Law school Professors teach courses in law to perform research and publish scholarly works in their fields of expertise. The Professors have specialization in specific subject owing to what they get enabled to help in the formation of various laws and policies by proposing their research, viewpoints, and ideas. Along with promising a better pay scale, this profession also demands higher qualifications. Securing a position as a law school professor is competitive.
Law is a field of innumerable opportunities and the above-mentioned opportunities are just the handful ones. Law is the basis of all other institutions. Every now and then, the law is evolving and with that new opportunities are also coming into existence. Anyhow, you should always look beyond the money factor when choosing any career track. Just go for the opportunities and knock the door, keeping in mind that apart from money there are a lot of things that can be extracted out of that position
