If you're a fresh graduate or a young professional trying to determine your career path in India, you may be wondering what kind of salary you can expect as a legal advisor.
In this article, we'll explore the average salaries for legal advisors across various industries in India and examine how salaries change based on experience level. We'll also delve into the factors that impact legal advisor salaries and discuss ways that you can increase your earning potential by upskilling or pursuing additional certifications.
Who is a Legal Advisor?
As a legal advisor, you will be responsible for providing legal guidance to individuals and organisations. You will help them navigate the complex Indian legal system and ensure that their actions comply with existing laws and regulations.
Depending on your area of expertise, you may work for a law firm, a corporation, or even the government.
Some popular specialisations within the legal profession include civil law, corporate law, criminal law, employment law, and intellectual property law.
Also read - How to become a Legal Advisor
Responsibilities of a Legal Advisor
The specific duties of a legal advisor will vary based on their specialisation, but typically include:
- Conducting research to understand relevant laws and regulations
- Drafting contracts, agreements, and other legal documents
- Representing clients in court or other legal proceedings
- Providing advice on litigation strategy
- Negotiating settlements or plea bargains
Legal Advisor Salaries in India
Legal advisors are an integral part of the legal system in India, advising individuals and businesses on a wide range of legal matters. As a legal advisor, you can also find employment opportunities in law firms, corporations, government agencies, and educational institutions.
In this section, we will discuss the current salary trends for legal advisors in India based on industry verticals and experience levels.
Legal Advisor Salaries by Industry
Several industries require the services of legal advisors, each with its own salary range. The top-paying industries for legal advisors in India include banking and finance, information technology, healthcare, and real estate.
According to recent data, legal advisors working in the banking and finance industry earn the highest average annual salary of INR 9.5 LPA.
Legal advisors in the pharmaceutical and healthcare industries earn an average salary of INR 7.9 LPA, while those employed by IT companies receive an average annual salary of INR 6.9 LPA.
The table below shows the average salaries for legal advisors across different industry verticals:
Legal Advisor Salaries by Experience Level
The experience level of a legal advisor plays a significant role in determining their salary. As a beginner with less than one year of experience, you can expect to earn around INR 1.2 LPA, while someone with five years of experience can earn up to INR 4.9 LPA on average.
Here is a table that shows the average salaries based on years of experience:
Legal Advisory Salaries by Job Roles
Legal advisors can work in a variety of job roles with different specialisations and responsibilities. Some common job titles and salaries include:
Other Factors That Affect Legal Advisor Salaries
Many factors impact a legal advisor's income. Here are some examples:
Location
The city you work in can have a significant effect on your salary. In India, legal advisors' salaries are generally higher in large cities such as Mumbai, Delhi, and Bangalore than in smaller towns.
Skills
Having strong skills in contract negotiation, legal compliance, risk management, and litigation can significantly impact your salary as a legal advisor. Specialising in niche areas such as arbitration or IP law may also result in higher pay packages. The more skills you have, the higher your earning potential.
Certifications
Having certifications such as Chartered Accountancy (CA), Company Secretary (CS), Master of Laws (LLM), Certified Information Systems Security Professional (CISSP), or Certified Fraud Examiner (CFE) can command higher salaries compared to those without certifications.
Job Potential and Career Paths for Legal Advisors
There is a strong demand for legal advisors in India, making it an excellent career choice if you are interested in law and enjoy helping others navigate complex legal issues.
In fact, according to recent estimates by the Indian government, there will be over 3 lakh job openings between now and 2025 for individuals with legal expertise.
Many legal advisors start out at law firms or corporate legal departments before branching out to start their own practices.
As a legal advisor, you can also specialise in certain areas of the law, such as labour law, corporate law, or tax law. Depending on your interests and skillset, you can pursue different career paths, including becoming a litigator, in-house counsel for a corporation, or a legal consultant.
Educational Requirements for Legal Advisors
To become a legal advisor in India, you generally need to have completed an LLB degree from a recognised university. After graduating, you will need to enrol with the Bar Council of India and clear the All India Bar Examination (AIBE). Once you have done this, you can begin practising as a legal advisor.
Take Charge of Your Legal Advisor Career Today
Upskilling and staying on top of industry trends is key to increasing your salary potential as a legal advisor.
If you're looking for guidance on certification programmes for legal advisors or financing options for upskilling and reskilling opportunities, WIZR is here to help! Contact us today to learn more about how we can support your career growth and help you reach new heights.
FAQs
1. Do legal associates earn more than legal assistants?
Yes, legal associates typically earn more than legal assistants due to their higher responsibilities and skill requirements.
2. Do all institutes provide placements in legal firms?
No, not all institutes can guarantee placements in legal firms. However, most reputable institutes have tie-ups with leading law firms and other employers where they place their students.
3. Can I become a legal advisor without a law degree?
No, a law degree is mandatory to become a legal advisor in India, as it provides the necessary education and training for this profession.
4. Can WIZR help me with upskilling to improve my salary as a legal advisor?
Yes! At WIZR we offer guidance on certification programmes for young professionals seeking career-focused upskilling/certification programmes that can help them achieve their salary goals. We facilitate financing options so that cost is not a barrier.
