Assuming the Judge does not explicitly ask for bribes but doesn't say no to whatever comes to his table either. (Mildly corrupt) Also, after working in Junior Judicial services if I decide to go into litigation, will I have to start from scratch? or I can charge similar amount a decently established Lawyer is charging? To me, its all about money(I am ready to grind in a T1 day-night) and also getting some time to spend that money even if it is a few years later down the line. Any insights would be really appreciated.
Once the recommendations of the judicial pay commission are implemented, law firms would stop being the popular choice of law graduates. As of now, we can anticipate an in-hand salary of 1.10-1.30 lpm (all-inclusive). But in a tier 1 law firm, the increase in salary is much more than that in the judiciary, ie you can expect to earn upto crores in 10 years after making partner. But the thing is, in judiciary, you will mostly be transferred in tier 2 cities or small towns, but if you adjust the salary for inflation, it will be as much as that of tier 1 firms if not more. Living in a metro city is costly, and especially with the increase in rents, it becomes difficult to sustain that luxury life even after working 3-4 years as an associate. And coming to the point of corruption, there is scope for corruption in every profession. But it is slightly less in judiciary but it is not uncommon for lawyers to bribe judges and magistrates to expedite the proceedings of their case and to skew the judgment in their favour. Apart from this, keep in mind the free time that you’ll get, which may allow you to start a business or take up some side hustle (investing/trading in the money/stock market) which you may never be able to do properly in a tier 1 firm.
No one gets to make a t1 partner so easily. One out of ten does at the cost of what is called as life. If money alone matters, you can end up making 40 lacs if you join a tier 1 within seven years of your graduation. If you join a tier, it takes a little more time.
In litigation, for about four years, you entirely depend on seniors who throw a paltry sum and pass off as having doled out a moolah for you. You start making adequate money in 30s. Now, the term adequate is relative, but what you generate depends on a host of factors like area of practice, contacts and forums and most importantly, the city.
A magistrate gets to become a dj only after 45, unless you clear another exam at 35. He gets admirable power as a bonus and the pay mind you is peanuts. If the pay commission's recommendations are implemented, which will happen anyway next years, you get a very good salary.
Litigation is very unpredictable. You can 10 crores or 10 lakhs 20 years down the line. It all depends on the cases you get and the contacts you have.
If money is your only objective, why don’t you try to get into investment banking post an mba. Start doing finance or finance related internships from now. You sound like a first year so you have a lot of time. Try this. Work is as bad as firms but more money.
I'm curious to know where do all these people that doesn't make partner or plans on leaving their firms after being exhausted go? I mean is there a sorta heavenly place where all the (...) guys chill or is it just in-house? PS: just curious :P, not expecting smuggish replies
Also, after working in Junior Judicial services if I decide to go into litigation, will I have to start from scratch? or I can charge similar amount a decently established Lawyer is charging?
To me, its all about money(I am ready to grind in a T1 day-night) and also getting some time to spend that money even if it is a few years later down the line.
Any insights would be really appreciated.
In litigation, for about four years, you entirely depend on seniors who throw a paltry sum and pass off as having doled out a moolah for you. You start making adequate money in 30s. Now, the term adequate is relative, but what you generate depends on a host of factors like area of practice, contacts and forums and most importantly, the city.
A magistrate gets to become a dj only after 45, unless you clear another exam at 35. He gets admirable power as a bonus and the pay mind you is peanuts. If the pay commission's recommendations are implemented, which will happen anyway next years, you get a very good salary.
Hope the above suffices.
If money is your only objective, why don’t you try to get into investment banking post an mba. Start doing finance or finance related internships from now. You sound like a first year so you have a lot of time. Try this. Work is as bad as firms but more money.
PS: just curious :P, not expecting smuggish replies