That’s really insightful, also sir could you recommend any specific sector that one can target for an In-house role which has competitive pay and relatively better growth opportunity (if you could name a few companies it would be even better) say from the perspective of a Fresher or someone who has worked for a year or so at a law firm.

Talking from perspective of 7PQE in a Tier 1/2/3 Law firms.

1. General Corporate - Shift anytime to anywhere. That too with high salaries. The whole world is open.
2. Tax - No need to say. FMCG, Manufacturing companies would take you. Reasonable pay.
3. Labour and Employment - you could lateral, but with a large pay cut. Some very large companies would need you. But the pay wouldn't match firms.

4. Litigation - but you won't do any real work in house. You would be just passive strategist and case manager.

Not so much opportunities, but could still make it -

5. Financial Regulatory (not cap marks) - Brokers, Fund Houses would like to keep you.

6. Banking & Finance, Projects- could lateral.

Future?

6. IP/TMT - people in these practice areas would find more in house opportunities once Data Protection Law is passed.

Worst for any in House lateraling (almost impossible to go in house)

7. Competition/Anti Trust - difficult to be hired in house. Unless in some exceptions like one lawyer for a super large conglomerate. Nobody really wants you.

8. Funds - difficult to make a move.

IPR, most demanding practice areas currently. Try for it you'll get call from good law firms or chambers quite easily than other. As candidates are very less comparing with the vacancies & pays are good, even they are accepting freshers specialized in other areas. While Gen. Corporate is now highly crowded, pool of candidate but seats are less with poor pay (most places) it is like IAS of Corporate field.