As the 2024 academic year draws to a close, law graduates are stepping into a job market where their skills are in greater demand than ever. Law firms across India have ramped up their recruiting efforts, offering higher salaries to attract the fresh talent needed to navigate the complexities of the rapidly growing corporate landscape.
Struggle for talent
Top law firms are increasing both hiring and salaries to prepare for the boom in legal services. Cyril Shroff, managing partner of Cyril Amarchand Mangaldas, said his firm has cut salaries for new hires, yet it has hired 170 graduates this year to build a strong base for future market demand.
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Shweta Shroff Chopra, partner and management board member, Shardul Amarchand Mangaldas, said, “With the expected growth in the Indian industry, the demand for legal professionals is also going to grow proportionately.” The firm, which hired 10% more freshers this year, is offering an average salary of Rs. Rs 20 lakh
Although Shroff Chopra did not reveal last year’s starting salary, she confirmed that this year’s offers are higher.
Neha Gianchand, chief marketing officer at Trilegal, which recruited 123 new entrants, emphasised that the growing demand for legal services has contributed to maintaining high retainer levels for new entrants.
Corporate law firms offer salaries in the following ranges: According to Manoj Kumar Singh, placement director, National Law University Jodhpur (NLUJ), this year, a budget of up to Rs 18-22 lakh has been kept for placements from top-rated national law universities.
“All law firms are offering almost “There are 200,000-300,000 more offers being given to freshers this year compared to last year. They are also hiring more people now. Most of the people who apply for campus placements at NLUJ get jobs in the top law firms of the country,” Singh said. Mint In a telephone conversation.
Singh informed that out of 120 students of NLUJ’s 2024 batch, around 70 enrolled for placements and 60 got successfully placed.
For the 2025 batch, which has the same number of students, 44 have already received job offers, though the placement process has just begun and will continue throughout the year, he said. Most of these students have secured positions as associates in law firms or in-house counsel in corporates and NGOs.
Competition for top legal talent is fierce, with tier-one firms not only competing with each other but also facing challenges from overseas law firms and corporates who are strengthening their internal legal teams.
“We also compete with foreign companies that are finding the best talent in India and taking it abroad. We also compete with companies that are strengthening their internal legal functions,” said Amar Singhji, executive director, human resources, Khaitan & Co. Mint,
Economic growth and legal demand
India’s rapidly growing economy is also creating ripples in the legal industry. According to data from the Ministry of Corporate Affairs, 185,312 new companies were registered in FY24, up 51% from 123,938 registrations in FY19. Along with this, the number of corporate insolvencies approved under the Insolvency and Bankruptcy Code has more than tripled, from 75 in FY19 to 269 in FY24, according to the Insolvency and Bankruptcy Board of India (IBBI).
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These figures underscore the growing need for legal expertise as businesses navigate an increasingly complex market environment.
Ravindra Jhunjhunwala, Senior Partner, Khaitan & Co said, “In a period of slowdown in the global economy, India is in a good position with its increasing geopolitical importance and growth story. There is an increase in domestic demand which is driving activity for professionals like us. Despite global uncertainties, we continue to grow year-on-year and perform beyond expectations.” The firm, which has hired 76 freshers this year compared to 72 last year, sees rising transaction and restructuring activities as a clear indicator of an imminent surge in demand for legal services.
In May, the Bar Council of India (BCI), the country’s regulator for legal education, directed all law institutes to include new subjects such as mediation, arbitration, cyber law and forensic law in their curriculum.
According to placement coordinators, these emerging areas of law are becoming increasingly popular among law firms, leading to a rapid growth in the market for new lawyers.
Three of the top five law schools in the country have seen an increase in the number of students from the 2021 batch to the 2023 batch. Also, two of these institutes have also registered an increase in average salaries, according to data from the National Institutional Ranking Framework.
Ratna Sahasrabuddhe, assistant coordinator of the placement cell at ILS Law College, said, “We have seen an increase in both the number of placements and the salaries offered by law firms this year. New areas of law such as cyber law and arbitration have also opened up more job opportunities for students.” “This year, we have also seen an increase in corporate placements, especially as companies are expanding their in-house legal teams. As the economy is growing, we are becoming a more litigious and aware society,” said Sahasrabuddhe, who has nearly a decade of experience in law school placements.
The numbers game
Despite the growing demand for legal services, the number of law graduates in India far outweighs the positions available in top-tier firms. This fierce competition has led to a significant increase in the number of law graduates who end up in low-paid roles or even struggle to find employment.
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In FY22, over 134,000 students graduated with a bachelor’s degree in law, up 21% from the estimated 110,000 who graduated in FY21, according to data compiled by . Mint From the All India Higher Education Survey Report of the Ministry of Education
Over 100,000 students take the All India Bar Examination every year, but only a fraction of them manage to find jobs in major law firms or corporates. Most students end up working in low-paid roles such as junior litigators in local courts.
Salaries for junior litigators typically range from From Rs 15,000 According to students, this amount can be up to Rs 25,000 per month depending on the place of practice.
“Almost half of the students from my college enrolled for the placement process, which can get you a job in a law firm or a corporation. Of these, only a third from my batch got a job,” said Keyur Jaju, a 2024 graduate from ILS Law College, who got a job in a top-tier law firm.
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Jajoo said career paths for others include taking up a judiciary role, pursuing further education or joining a family-run practice. “I was a first-generation lawyer, so I had to try for a high-paying law firm job. Others usually start practising litigation.”
