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I think I should have framed my question better.
Is the pay in Disputes lower than in other teams like M&A, gen corp, etc. in T1 and T2 law firms. I am asking this because, I am at a point where I have an option to choose my specialization, so I just want to know every aspect of it and then make a decision. And no, I don't have any financial support. I am already a little late in my career (as per society standards) and need to be financially independent ASAP.
Litigation is the most fulfilling profession. Only caveat, that you should not join this profession from livelihood perspective.
If you have a good source of financial support [Spouse in Govt job, politician, Big businessman], then you may start your practice as a way of helping others and serving society.
It is not very philosophical but only in few years you would gather a good reputation and then money would automatically start flowing and can be treated as your extra goodies.
Alternatively, if you do not have a financial support then transaction based law is better.
Reason: Transaction based law is more paying as the Client is paying and receiving services;
Dispute resolution is basically a gamble on the outcome and therefore clients are reluctant to pay.
Godfather, HC practice vs Lower Court practice and other things all either corroborate or erode away in the light of financial aspect and its fixed source.
I am exploring the field of Disputes- reading sections, blogs ,etc. I find this area a little less boring than corporate laws like companies act, SEBI regulations, etc. I am thinking to put all my efforts in this field.
Please give your views on disputes as a career. And also how is the pay and job satisfaction in comparison to other areas?
Thanks