Honestly, it is also untrue that you will earn a lot more in London. The cost of living is way too much in London. Taxes take away more than 35% of your annual income, compared to almost 7-8% for Indian lawyers. Plus, you will earn bare enough to live during 2 years of TC and just a living stipend for 2 years earlier during the course of SQE. You will have to get a decent amount of money from your parents for 2 years of SQE study. Mind you, your expenditure for these 2 years will be very high as living in London is very expensive compared to other towns like Oxfordshire or Cambridge. Plus, compare the A0 salary of a Magic circle associate with an SA1 in an Indian law firm (Basically that means 4 years out of law school). You will find Indian lawyers will be earning way more in terms of purchasing power of their salary.
I understand that there is a glory associated with a Magic Circle lawyer but there would hardly be any sensitive lawyer who would think an MC A0 is better than SA at a big law firm in India. If you return back to India, unlike what most others think, Indian law firms discount their PQE simply because the first 4 years of their service do not count as PQE. Imagine coming back to India and working as an associate under a partner who was your batchmate. However, most of them do not come back and slog as associates for years without even knowing if they will make partners.
Prospects of making a partner are very bleak. You have very few prospects of a lateral shift in any other firm in London because most of them (Especially big US firms in London) prefer Oxbridge candidates only.
I fail to understand why people with such good intelligence still prefer MC firms over Indian ones.
I understand that there is a glory associated with a Magic Circle lawyer but there would hardly be any sensitive lawyer who would think an MC A0 is better than SA at a big law firm in India. If you return back to India, unlike what most others think, Indian law firms discount their PQE simply because the first 4 years of their service do not count as PQE. Imagine coming back to India and working as an associate under a partner who was your batchmate. However, most of them do not come back and slog as associates for years without even knowing if they will make partners.
Prospects of making a partner are very bleak. You have very few prospects of a lateral shift in any other firm in London because most of them (Especially big US firms in London) prefer Oxbridge candidates only.
I fail to understand why people with such good intelligence still prefer MC firms over Indian ones.