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Also, a big slap to Sudhir Krishnaswamy, who was telling the India Today conclave that skill development does not matter and Law schools should focus on theoretical principles and forget the job market. Will he clothe and feed law grads then?
Also Business is about to pick up nicely only these law firms struggling with over hiring are presenting a glooming picture. Just ride out the wave or maybe ring up some company for a in house gig in the interim.
Where certain reps of our College RCC based on propped up placement figures of 2023 batch, had gone on to proclaim that at the end of the 2024 recruitment drive, there will be leftover jobs; they have recently released a live G-Spreadsheet Form containing data which shows that apart from a T-2 firm which has already concluded its drive, only 3 more companies may participate in the recruitment drive this semester. Moreover, apart from paltry emails indicating interest in participation in the recruitment drive in the next semester, there are LITERALLY no firms or inhouse participating in the recruitment drive.
However, this may have had little to no impact on the College RCC which continues to operate in denial, high-handedness, shrouded in petty politics and without compunction.
So yeah, gloomy is as gloomy gets.
the scenes would have been far far worse had we come after nls, nalsar and nujs
Volume of M&A transactions and corporate work predicted to stagnate in most of FY23 and FY24. The sentiment is definately negative. No doubt about it.
HRs from T-1 are calling and cancelling their plans of coming for campus recruitment drives. (Khaitan cancelled at a T-2 NLU, showed similar concerns w.r.t hiring numbers in a telephonic conversation with GNLU RCC)
Hiring targets have been reduced by upto 50-60% (maximum by Trilegal).
Assessment Internships are being termed as "call back" only (SAM emails after April), PPO interviews have been put on hold (Luthra, Indus, SCAM, JSA, Saraf), rejections have been coming to above average students even from T-2 firms. (DMD)
NLUJ Day-Z failed in comparison to last year.
NUJS is feeling the heat (personal communication from an RCC member) though close to 30 have PPOs (I don't believe him tbh).
Current PPO numbers across top 6-7 NLUs are 10-15 less than what they were last year before Day-Z (verified data).
Top Rankers are desparately counting on campus placements after getting unfavorable responses from firms. Preparing for GDs and interviews etc. on attendance exemptions.
All in all, the 2024 batch is out of luck. Over-hiring last year is costing us immensely. Getting the numbers to 60-70% of the 2023 batch numbers would be the best case scenario in T-1s. (40% in T-2s and may God help you in other law schools)
The bottom line is that the T1s are hiring less which is why T2 firms that pay similarly to T1s are coming to T1 NLUs. Students from T1 NLUs may not feel the effects of the hiring freeze much as everyone will get placed in some firm or the other with 15LPA packages but people from lower NLUs or private Universities like SLS-P will face the effects of the hiring freeze.
- more seats via reservation (applies to all NLUs and government colleges)
- greed for profit via fees(applies to NLSIU, GNLU, Jindal, Symbiosis and other private colleges)
- financial distress because of low govt funding, leaving fee income and the only income source (applies to NUJS, NLUJ and NLIU).
- Reckless and corrupt Bar Council of India, under Manan Mishra, giving licences to any shady private operator who wants to start a law school
- multiple NLUs in one state, owing to political populism (applies to Maharashtra and MP)
- NLUs opening in states with poor educational infrastructure, owning to political populism (applies to Bihar, Jharkhand, Haryana, HP and Assam, with Sikkim, Tripura, J&K and Uttarakhand coming up)
The solution is to cap the number of law graduates every year to 500 nationally.