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ICICI Bank bulks up in-house with first graduate hires this year (CORRECTION)

ICICI-Bank-HQ-Bandra-Kurla-Complex-Mumbai
ICICI-Bank-HQ-Bandra-Kurla-Complex-Mumbai

ICICI Bank has recruited six law students from three campuses to start in its in-house team next year and it is set to hire from at least another five law schools soon.

The bank recruited four final year students from NALSAR Hyderabad, one student from National University of Advanced Legal Studies Kochi (NUALS) and one from National Law University (NLU) Jodhpur.

ICICI Bank has an in-house transactional legal capacity of around 150 lawyers and around the same number of legal staff employed in its subsidiaries.

ICICI Bank general counsel Pramod Rao said that he would still look to recruit from ILS Pune, Symbiosis Pune, National University of Juridicial Sciences Kolkata (NUJS), NLS Bhopal and the Army Institute of Law Mohali.

"We have a wide intake for two reasons," he explained. "One, the requirement is quite high - we've recruited as many as 18 people for this year [2009] and last year between 20 and 22.

"This is too many to go to just one school."

The second reason, said Rao, was that any student who had done a focussed five-year course in residence at a law school would have picked up good training and rigour.

"Before [other law firms] discovered Bhopal, we were there already and the same with NUALS Kochi and the Army Institute Mohali," he added.

New joiners at ICICI Bank's in-house team can expect a starting salary of up to Rs 8.34 lakhs per year. [see explanation in the comments below - Ed]

The bank is also set to take a total of 180 interns this year, from which the majority of its future recruits are usually selected.

NALSAR student bar council (SBC) president Aditya Wadhwa said that the recruitment season this year had gone well, unlike during last year's slow-down.

"The ICICI recruitment has made us really confident that we'll make 100 per recruitment," he told Legally India adding that the recruitment season would only start fully in January and February 2010.

Out of around 50 students that had already been interviewed by firms and the bank, roughly 20 to 25 had already received job offers, he said.

Domestically, Amarchand Mangaldas, Luthra & Luthra and ICICI bank had already recruited from NALSAR, he explained, with international firms Allen & Overy and Simmons & Simmons also having hired students this year.

[Apologies for the unintentional error. The starting salary was erroneously cited as Rs 8.9 lakhs per annum in the original published version. -Ed]

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