If you are opting for tax, joining a big 4 is the best because you get first hand exposure on all matters. Also, if you are part of a direct tax team, you will most definitely advise on fema, company law etc., since tax structuring is impossible without those aspects being considered. While technically they are not supposed to give legal advise, honestly, they do provide holistic advise, and the legal aspects expect the client to get a sign off from a law firm. So, my experience from having worked in a big4 and tier1 law firm, the big4 guys are stronger on the technicals than the law firm guys. I may be wrong, but this has been my feeling... No offence to anyone!
Don't think work is same as LPO. there are multiple practices like tax, risk etc. Where qualified law students are working. Mind you, not lawyers, but people who have a degree in law. These people sometimes know a lot about statutes, which a law firm candidate (even tier1) has no idea about. But interpretation and legal advice or opinion is strictly forbidden to be passed on. Mostly work in on advisory front. Unlike LPO, there are numerous original work products that are delivered by these big4 people. Compliance is definitely a flourishing practice these days. Heard people earning well (around 25fixed - on 5/6 years experience) and more importantly, with WLB (about which again the big4 people still crib about).
Don't know how to compare with law firms (haven't worked in any), but big4 is not that bad. Yes, work hours can be insane (at times), but you also get a regular salary and bonus, along with good exposure throughout the spectrum. Also get to work with inhouse GCs. Compliance is interesting, given you get to work in a proper team. Pay wise, big4 is okayish, with you going from 8 to 25 lpa in a matter of 6/7 years (Associate consulting to manager).
This was pay level for freshers way back. Now it's around 7.5 to 8 before bonus. Lawyers generally are taken in tax practice. As someone else said, there're multiple threads on this detailing everything. Find and read them.
While I don't work at any of the Big4, I am an associate at an almost tier 1 law firm and have worked alongside 2 Big 4s for undertaking certain restructuring operations for mutual clients. As a result I have interacted with their legal teams. In those particular operations, the legal teams were only responsible for compliance, coordination between business and legal, proof reading agreements, undertaking due diligence etc.
I would say the legal work at Big 4 is more like that of an LPO. I could be wrong though.
Mostly all compliance work. Pay is 8.5 lpa with 6.5 being fixed and 2 bonus (maximum). You will be designated as Associate consultant. In hand salary will be around 45k.
Nah for rest.
While I don't work at any of the Big4, I am an associate at an almost tier 1 law firm and have worked alongside 2 Big 4s for undertaking certain restructuring operations for mutual clients. As a result I have interacted with their legal teams. In those particular operations, the legal teams were only responsible for compliance, coordination between business and legal, proof reading agreements, undertaking due diligence etc.
I would say the legal work at Big 4 is more like that of an LPO. I could be wrong though.