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If you want to actually learn trial unlike the law firm lawyers; you will learn most of it in 2 years!
Totally agreed about the learning part. But if I want to stay in my hometown ( A city near Mumbai) and practice there, would it be fruitful and worth the efforts I would put in ? Is the money good in general ? Like Ive always dreamt of having my office in my hometown but the firm/ HC practice attracts me more. Hence asking, is district practice good enough, can one make decent ?
Trial court practise is a must to know. If you are the top lawyer in your city, you are a king or atleast treated like a king. I doesn't matter, if its a small town or a metro/cosmopolitan. A king is a king.
Money wise - No for the first 7 years.

Learning wise - the best.

Whether you want to be the employee or employer totally depends on you, based on your skills, client retention and work ethic.

Moreover you can always aim to crack the judiciary if you want a change of pace.