No practices will stop hiring atleast for the next 20 years. After that once the economy is stagnant - Mid Level Income Trap or similar situations. Law firms will start freezing hiring. So forget any practice areas freezing hiring for the next 5 years. Even the worst teams would be hiring more.
But next 10 to 20 years, it's almost assured that as long as India grows at 6% GDP + - Law firms will keep on hiring..
Someone was telling - CapMarks and Projects teams would freeze hiring.
Are you even thinking what you are saying? Cap Markets will expand atleast for the next 20 years - $3 Trillion Indian securities markets will become atleast $7 Trillion. Hundreds of companies will be listed.
Projects? At the current pace. I won't be surprised even if Guwahati and Coimbatore has Projects team has a projects team. It's becoming too big to have a hiring freeze. Government strategy in more BOTs etc are even bigger reason hiring won't stop.
The reasons are -
1. Indian Economy will grow - no matter who rules. Indian economy will multiple for sure. Don't tell - modi vs Manmohan. It's BS. It's not because of politicians. It's just the natural trajectory. Of course unless some really horrible leader or political grouping destroys the economy on purpose.
2. Indian Law Firms are too small - the biggest Indian Law firm have less than 1000 lawyers. It's too small in a 1.5bn populated economy which is poised to become a $10 Trillion economy in 2030.
Even in some (relatively small) countries in Europe - there are more law firms with more headcount that India.
India has opportunity for more practice areas and law firms to expand.
So, we could safely say that no practice are would be freezing in the next 5 years.
No practices will stop hiring atleast for the next 20 years. After that once the economy is stagnant - Mid Level Income Trap or similar situations. Law firms will start freezing hiring. So forget any practice areas freezing hiring for the next 5 years. Even the worst teams would be hiring more.
But next 10 to 20 years, it's almost assured that as long as India grows at 6% GDP + - Law firms will keep on hiring..
Someone was telling - CapMarks and Projects teams would freeze hiring.
Are you even thinking what you are saying? Cap Markets will expand atleast for the next 20 years - $3 Trillion Indian securities markets will become atleast $7 Trillion. Hundreds of companies will be listed.
Projects? At the current pace. I won't be surprised even if Guwahati and Coimbatore has Projects team has a projects team. It's becoming too big to have a hiring freeze. Government strategy in more BOTs etc are even bigger reason hiring won't stop.
The reasons are -
1. Indian Economy will grow - no matter who rules. Indian economy will multiple for sure. Don't tell - modi vs Manmohan. It's BS. It's not because of politicians. It's just the natural trajectory. Of course unless some really horrible leader or political grouping destroys the economy on purpose.
2. Indian Law Firms are too small - the biggest Indian Law firm have less than 1000 lawyers. It's too small in a 1.5bn populated economy which is poised to become a $10 Trillion economy in 2030.
Even in some (relatively small) countries in Europe - there are more law firms with more headcount that India.
India has opportunity for more practice areas and law firms to expand.
So, we could safely say that no practice are would be freezing in the next 5 years.