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If the TL partner has good reputation within the firm, there is no dearth of work. Know of partners who have 2-3 deals getting completed every week.
For someone with 5-6 years work ex, the ask would be to be able to work on requisitions and draft DD reports from IP ownership, licensing, employment, and litigation aspects. Also the ability to do major chunk of markup on SPAs and other transaction documents as well as draft ancillary assignment deeds, employee/ consultant agreements etc.
KCO has the best IP transactional practice, followed by Trilegal, CAM, AZB, and SAM in that order. Look into the profiles of IP partners in their deal reportings to shortlist.
Yes, IP teams in full service Tier 1s are open to hire there is a dearth of people with transaction experience.
Salary wise, Trilegal pays at par with other teams. CAM, SAM, KCO between 25-45% less than corp/ disputes practices at same level.
IP transactional work is a bit niche, but if there's good relationship with corp teams in the firm, work keeps flowing. Though most partners also do a bit of prosecution as well as litigation to supplement such practice. Trajectory wise, most Tier 1 IP teams are top heavy, so that may be a challenge.