Corporate lawyers are among the most in-demand professionals in our country, thanks to the unique skillset and expertise of such professionals.
However, the best way to determine how much in-demand a job really is is through checking how much pay it offers. Thus, to help you in understanding the demand of corporate lawyers in India, we have prepared the following article on corporate lawyer salary in India.
It would help you determine how lucrative this field is and whether it matches your requirements or not.
Let’s get started:
What is the Average Corporate Lawyer Salary in India?
The average corporate lawyer’s salary in India is INR 6.9 Lakh per annum. Freshers in this field earn around INR 1.47 Lakh per annum on average. This figure depends on the base salary, shared profit, and the received bonus.
Corporate lawyers are in evergreen demand because of the unique nature of their skill. Organizations of various sectors require the expertise of corporate lawyers to help them get through legal problems. It’s certainly one of the most sought-after professions and as the number of companies in India is increasing, the demand for corporate lawyers is increasing accordingly.
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Job Description of Corporate Lawyer
Primarily, corporate lawyers advise their clients in business transactions, defend them in lawsuits, claim liability, advise on prosecutions, obligations, and legal rights. They handle all the aspects of corporate law which consists of legal tasks pertaining to the formation, management, and administration of a company (or an entity similar to a company).
Common examples of such enterprises include LLCs (limited liability companies), partnerships, etc. They are responsible for assisting in formatting the new company which requires the filing of various legal documents related to incorporation and ensuring that the company meets all the local, state, and federal regulations.
After the formation of a company, the corporate lawyer would advise the business on handling transactions with other corporations for helping the same comply with the regulations.
Corporate lawyers represent their clients in court or before government organizations. They are responsible for presenting and summarizing these cases to judges. In this process, the corporate lawyer might have to collect evidence, evaluate all the findings, and create strategies to present the case.
They assist their companies in licensing new technologies and handling any legal issues that may arise. Corporate lawyers have to plan and advise their clients on corporate mergers, large deals, and acquisitions. Due to the unique requirements of their role, corporate lawyers must be experts at the corporate law of their country, state, and locality. They must be familiar with the various rules and regulations related to company formation, compliance, transactions, and other related aspects.
Corporate lawyers have to meet judges, argue motions, analyze laws, question witnesses and interpret regulations with probable case outcomes during a trial. Clearly, they require strong oration and interpersonal skills.
While corporate lawyers work in business hours they might have to work overtime because of the hectic nature of their role and during large transactions, legal cases, or mergers. They work with other legal team members such as patent lawyers to prepare their cases or ensure everything goes smoothly. The upper management of a company relies on the corporate lawyer to assist them with regulatory problems and corporate strategies.
As a corporate lawyer is responsible for meeting with regulators and government agencies, they might have to travel sometimes although the role doesn’t require much traveling. However, a lot of work conditions depend on the kind of enterprise they work with. For example, if your corporation has a lot of satellite offices, you might have to travel frequently.
Getting the top corporate lawyer salary in India depends on a lot of factors. We have discussed the most important determining factors of corporate lawyer salary in India in the next section.
Factors Affecting Corporate Lawyer Salary in India
Your location plays a huge role in determining how much you make as a corporate lawyer. Some locations offer salaries higher than the national average while some places offer less than the average pay. It’s important to know which kind of place you live in to calculate your potential earnings in this field.
Corporate lawyers in Chennai earn around 99.9% more than the national average. Similarly, corporate lawyers in Bangalore and New Delhi earn 41% and 17.5% higher than the average wages respectively.
Then there are locations that offer less than average pay such as Kolkata, where corporate lawyers earn 67.5% less than the national median. Other locations that offer less than average salaries include Pune (57%) and Ahmedabad (29%).
Another notable factor that affects your corporate lawyer’s salary in India is the skills you have. The unique nature of this role requires you to have a strong grasp on certain skills, especially law-related.
According to the statistics, corporate lawyers with certain skills in their arsenal earn significantly more than others. For example, corporate lawyers with corporate governance skills earn 131% more than the average. Other beneficial skills for these professionals include Mergers and Acquisitions which offers 23% higher pay than the average and Contract Management which offers 70% more than the median pay.
If you want to get lucrative pay then you must focus on developing the most in-demand skills such as Corporate Governance and Contract Management. They will help you get a high-paying job in this field very easily.
One of the most influential factors in determining your pay is the amount of professional experience you have.
Freshers in this field with less than a year’s experience earn INR 5.11 lakh per annum on average. Corporate lawyers with one to four years of experience earn around INR 5.82 lakh per annum on average.
However, after a certain level of experience, your pay in this field increases substantially. Corporate lawyers with a significant amount of experience (five to nine years) make INR 14.5 lakh per annum on average. This figure stays relatively the same as you gain more experience.
It’s clear that as you gain more experience in this sector, your pay increases accordingly. Percentage-wise, freshers in this field earn 26% less than the median whereas late-career professionals in this sector earn 111% more than the median.
Finally, a significant influencer of your pay as a corporate lawyer is who you work for. Corporate lawyers can work in various industries as their expertise can be used in nearly all sectors.
Companies of all fields have to ensure they follow all the regulations and want to avoid legal issues. Apart from working directly with a company, a corporate lawyer might work in a law firm alongside several other lawyers.
Different employers offer different salaries such as Lexlit Advocates and Solicitors, a law firm, offers up to INR 48,000 to corporate lawyers while EXL Service offers up to INR 62,000.
How to Get the Top Corporate Lawyer Salary in India?
As we discussed in the previous section, your corporate lawyer’s salary in India depends on several factors. However, out of all of those factors, the one you control the most is the skills you have. By increasing the in-demand skills you have, you can enhance the amount you can make. Moreover, we have already seen how certain skills enhance your pay by a huge margin.
There are multiple methods to develop such skills. However, the most efficient method to learn the most in-demand skills is through taking a course. Taking such a course would ensure that you learn all the necessary skills for this role and get the highest chance of earning the top corporate lawyer salary in India.
As you can see, pursuing a career in corporate law is certainly a smart choice. Not only is this role well-respected but it’s also very lucrative and offers tons of growth opportunities.
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