I see engineers not doing any work in college and ending up amazing salaries like 24 Lpa the same goes for mba. They get wfh. Stocks and amazing perks. Is the t1 grind in law even worth it? Should a lawyer switch to mba for wlb and salary
Which fools paradise are you living in good sir, it’s easily over that. Also coming to these Tier 1s which hardly dole out a lakh a month in hand while the work hours are crazy in comparison to anywhere you will go post your MBA degree. :)
Almost everyone at a T1 NLU gets more than a lakh/month. The work hours are equally bad for MBA grads.
Now, People who completes MBA and gets some of these good packages, usually have 2-3years of PQE. So, after graduation they have probably spent 2-3 years working + 2 Years of MBA. Add the opportunity cost of doing an MBA which is very costly as well. On the other hand, someone from a T1 NLU is getting the job as a fresher with no experience. So, even if MBA grads are earning slightly more, if you account for the opportunity cost, then T1 NLU grads are probably earning more than the IIM grads.
Who told you this? Brother/sister I don’t know if you know this or not , MBA programmes are known for their opportunity cost. I did my BA-LLB from a tier-1 , I can vouch for even the work hours. And it’s definitely not ‘slightly more’. Our compensation is way higherrr. People hold me in high regard because of my MBA background especially even though I come from a tier-1 NLU, I have decided to further my degree and not give in to stupid work hours at law firms. PE is wayyy more streamlined. Also the skills I learnt at a tier-1 law firm definitely helped me in my MBA degree
Ofc they have amazing salaries. That’s why law graduates , especially toppers are moving ahead to try their best to grab a M7 MBA. And as for engineers - well the toppers do receive the highest paying job. Only top 2 NLUs manage to compete , but not fully. TCs are something which we can boast off
Sorry to rock your boat but I’m from one of the Tier-1/2s whatever you would consider my uni to be :) Just spoke my opinion having interned at a few places and seeing how things work
Not OP but I'm preparing for CAT too and had an under 200 rank in CLAT. Decided to go for an MBA after my internship experiences at various tier 1 law firms. I've talked to people from top b-schools in the country, and am close with people at large tech companies. The work life balance, remuneration, and perks are way better than any of the law firms.
STEM offers not just betterpay and wlb but unlike lawyers at law firms,STEM employees are not treated like paper peons and do get to go home and get sleep at normal hours
My friend is an engineer at Google. Got a package of 40 lacs + right after college but these tech companies fool engineers in the name of CTC. Most of this renumeration is tied with stocks which vest over 4 or 5 year time on the condition that you stay with the firm. All in all, the in hand pay for these techies in 1 year is equivalent or slightly more or less than Tier 1 law firm lawyers. In addition, lawyers save more on taxes. + Techies dont see a drastic increase in their salary over a period of time like lawyers see.
However, the work life balance they have is far more superior as compared to lawyer's little to no WLB. Again its a trade off b/w money and WLB.
Talking about management, the pay for some big firms is nice (but they also make fool by CTC) work hours are more or less same as a lawyer( thats what my cousin told me who is an investment banker at a top firm and a grad from IIM A).
Also, keep in mind that IIM ABC grads who get high packages of 40-50 lacs also usually have certain years of experience before graduating from IIM. So comparing a lawyer's salary at A0 with some experienced person graduating from IIM may not be a fair comparison.
After 4-5 here his stock would see a nice appreciation which you tiny brain wouldn't process. Those stock are not liquid today but after a point when they do become liquid it's equivalent to cash
What your 'tiny brain' fails to understand my friend is that they don't see drastic increments and huge bonuses over time like lawyers do. Therefore, lawyers can invest that extra amount/bonus as per their preference in range of equity/MF's instead of having your entire equity in stock of your employer company which may not perform very well over 4-5 years and has high risk associated to it since diversification is not possible.
You have raised extremely fair points, but instead of say a investment banking you can go into sales, marketing etc which although pay slightly less but still are way better than law firms and at the same time provide flexibility and a great work life Balance.
Is even the salary at law firms worth it? How are salaries at sales/marketing/hr team at companies. I am sure they pay as good as law firms with additional perks which law firms don’t give.
It’s way better than law firms, people who deny this are just delusional. A friend of mine joined one of the companies in nifty50 for a marketing role after graduating from a tier-2 IIM. The CTC is upwards of 25 LPA, they get to leave the office by 7 PM and no one bothers you on the weekends. The perks are obviously insane (won’t list all of them here, you can simply google it) and there’s no toxicity, thanks to decent HR policies (which are practical non-existent in law firms).
Now, People who completes MBA and gets some of these good packages, usually have 2-3years of PQE. So, after graduation they have probably spent 2-3 years working + 2 Years of MBA. Add the opportunity cost of doing an MBA which is very costly as well. On the other hand, someone from a T1 NLU is getting the job as a fresher with no experience. So, even if MBA grads are earning slightly more, if you account for the opportunity cost, then T1 NLU grads are probably earning more than the IIM grads.
However, the work life balance they have is far more superior as compared to lawyer's little to no WLB. Again its a trade off b/w money and WLB.
Talking about management, the pay for some big firms is nice (but they also make fool by CTC) work hours are more or less same as a lawyer( thats what my cousin told me who is an investment banker at a top firm and a grad from IIM A).
Also, keep in mind that IIM ABC grads who get high packages of 40-50 lacs also usually have certain years of experience before graduating from IIM. So comparing a lawyer's salary at A0 with some experienced person graduating from IIM may not be a fair comparison.
Any place which pays you good money is going to try to get an ROI.
Not to mention look at how tech companies fired people without notice or care. There is no such thing as a perfect job.