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I do know seniors from NLUs/other law schools who have opted for this option. If any of such seniors are reading this, what are the requirements to get into an IIM/ business school as a law student?
Unless you are open to doing an MBA from a random college and then joining some random company where your role is titled 'consultant'.
Plus your work profile post MBA v. joining BigLaw are largely similar. you will be doing useless work in the tertiary sector with only the paychek being a motivating factor. IMO there is no big difference.
There are partners in law firms who are NLU graduates and have also MBAs (can think of at least 3 examples between CAM and SAM) but the fact that they came back to law means you should start early if you want this shift and that being a banker is quite tough. The shift will become less attractive after you have worked for a few years as a lawyer.
That said, the career opportunities after an MBA are far wider than after LLB. So, do it only if you want to switch careers. As some of the comments above have already pointed out, there is hardly any difference between working at a consulting firm v. a law firm - there you look at Excel Sheets and PPTs, here you look at Word files and PDF. But at the end of the day, it's the same soul-sucking living for the paycheck.