If you are a young lawyer or a law student then here are five reasons why you must consider a career in the corporate law:
1. Influx of new businesses
The number of new firms created in India saw an 80% increase from 70,000 in 2014 to 1,24,000 in 2018 making India rank third in terms of number of new firms created as per Economic Survey 2019-20.
In countries like the United States, 4.35 million applications were submitted to form a new business and the UK saw 1,13,000 new businesses set up in 2020 alone.
Every new company entering the market requires a good corporate lawyer.
Corporate lawyers are treated almost like a partner in the company because of the legal help required in the entire lifecycle of the business. Lawyers form part of any big decision for the business and therefore get a seat at the table soon.
Lawyers not only solve problems of the business but they also prevent them hence the dependence of a lawyer is very high and they are constantly looking to hire experts in this field.
2. Broad career choice
If you know corporate law well you become a desired candidate in corporate law firms and companies both.
You can start working as an Associate at a law firm and move your way up to become a Partner of leading law firms in your country. You are also sought out by big companies looking to hire you as an in-house counsel.
If you are someone who doesn’t like to be on payroll you can become a consultant and advise two or more businesses at the same time.
There is a huge scope for freelancers in this field since you can get commercial projects from international clients looking for experts in cross-border transactions, mergers and acquisitions etc.
Commercial litigation is one of the most lucrative areas of practice for those interested in practicing before courts. NCLT which was formulated in 2016 overlooks disputes involving Indian companies. Since it is a relatively new court without any prejudices seen in traditional courts, young lawyers have massive scope to get recognised in commercial litigation.
3. Scope to work in diverse industries
The job of a corporate lawyer is diverse and hence demands the knowledge of various fields like tax, merger, criminal law, risk, to perform better.
You can be a part of any business vertical, be it insurance, marketing, food, luxury, telecom, retail, hospitality, or even the government.
Your learning is not limited to only books, you learn about all these different markets and corporations. They also open up entrepreneurial opportunities for you in the future.
4. Leadership trajectory
Learning as a corporate lawyer is massive. When you work with management and business regularly you inculcate many of the qualities that a business requires which helps you build an assured path to be a leader in your company, law firm or your own practice.
You learn team building, team managing, leadership, people management, time management and many such attributes when working with a corporation.
Not only that, when you represent your client or organization, your personality and communication are augmented.
The whole process of a corporate lawyer enables you to bring out the best of yourself helping you aim for higher leadership roles with comprehensive skills and a visionary strategist.
5. Lucrative profession
Starting package of an associate at top law firms in India is ₹16-17 lacs per annum.
In-house counsels are paid close to ₹7-8 lacs/annum.
Paralegal in corporate law earn close to US$2-3k/month.
Ones who climb the ladder and become a partner in a top law firm or General Counsel can have their packages that can go upto a ₹1 crore per annum.
The more time you spend in the corporate field, the more your value grows in the market. Since there is demand for corporate law in almost all industries, you can negotiate your way to a very rewarding position.
Basically jobs in corporate law are not dying out. Pandemic did not hold back companies from growing. It did not halt mergers and acqusitions and entering into new businesses.
In fact, advanced technology has helped grow businesses. The ease of connecting with people without meeting has accelerated business growth like no other time before in history.
More people are collaborating from different countries and coming together to grow and increase profits.
If you are wondering how to make a career in corporate law then join us for the 3-day FREE online bootcamp on How to kickstart your career as a corporate lawyer from 14-16 June 2021, 6-9pm Indian Standard Time.
During this bootcamp you will learn how to make a step-by-step roadmap towards a successful career in business law.
You will learn about different opportunities in the corporate law field and will help you open avenues to jobs in corporate law firms, MNCs, new age companies and a chance to start your own independent practice in this field.
Who should attend:
- Lawyers who want to work in top law firms or in the corporate practice of boutique law firms
- Lawyers who aspire to become in-house counsels or shift from their existing work to in-house counsels
- Litigators whose practice is severely hurt by the pandemic and who want to perform corporate work, and also obtain corporate litigation matters to increase their income
- Lawyers who want to build an independent/ freelancing practice or start their own law firm
- Law students who want to secure the best jobs after graduation and create financial safety for themselves
If you have already registered for this bootcamp then don’t forget to save this event in your calendar:
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Looking forward to seeing you at the Bootcamp.