Yes, pay is comparatively low in IP field and the work gets monotonous. So get into IP domain only and only if you are interested.

+ You want to learn IP, then do it in a small firm. Understand the basic procedures of prosecution and opposition first. Then choose big firms for internship

Pay at most / all IP firms is deplorable at best. Salaries have stagnated because the IP market is extremely crowded with too many firms, and the crème de la crème IP work is not evenly distributed amongst all IP firms. As undercutting is rampant in the IP market, fee schedules of law firms don't see upward revisions as often as one would like. Therefore, unlike corporate law firms, IP firms' revenue does not see significant YoY growth. Consequently, the associates are not paid much because the partners will (understandably) not part with their lion's share.

In the same breath, when market leaders like Anand and Anand, Saikrishna, Fidus, Singh and Singh, etc. don't revise fresher salaries for several years, the baseline gets set at rock bottom. Smaller firms pay even lower sums, amounts which are unfit to be labelled as a 'salary' -> it is more akin to a 'stipend'.

The situation is grim and unlikely to get better anytime soon. The Tier 1 firms that have IP teams pay marginally better (save for Trilegal and AZB who in my limited knowledge pay at par with their corp. associates). I would strongly recommend that you specialize in laws that pay better (unless, of course, you are not concerned with pay).