New Delhi: Top law schools have secured job offers for many of their students this year even before the start of the usual recruitment season, in a reaffirmation of India’s economic revival. Most of the recruiters are corporate law firms that are in need of larger legal teams in times of improving business opportunities.
Placements in law and business schools were hit last year by the global economic downturn that caused companies to freeze or slow hiring, cut salaries and reduce headcount. Spurred by monetary and fiscal stimulus, economic growth rebounded to a pace of 7.9% in the September quarter, the most in six quarters. The economy is forecast to expand 7.5% in the year ending 31 March after 6.7% growth in the last fiscal.
“Though our recruitment session is slated for last week of February, top corporate law firms like Amarchand and Mangaldas (and Suresh A. Shroff and Co.), Trilegal, Jyoti Sagar Associates, AZB and Partners have already done their recruitments,” said Arjun Sinha, a member of the recruitment committee at National University of Juridical Sciences (NUJS), a national law school in Kolkata.
“Amarchand has hired 11 of our students for its various offices, while Trilegal has placed 7 of our students,” Sinha said.
Campus placements at National Law School University of India (NLSUI), Bangalore, normally held in April and May, took place in January this year, the school said in a statement.
Legal firms confirmed they were recruiting in larger numbers.
“Since corporate law firms work in areas like mergers and acquisitions, capital markets and taxation, any economic resurgence leads to higher recruitment. The economic turnaround has translated into higher demand for legal services,” said Anand Prasad, partner at Trilegal.
A senior lawyer at AZB also said, on condition of anonymity, that his firm was hiring a number of lawyers.
Nearly 250,000 lawyers graduate every year from India’s 700 law colleges; 400 universities, including those with deemed status; and 13 autonomous universities such as NLSUI, NUJS and Hyderabad-based National Academy of Legal Studies and Research.
The recruitment drives are conducted only at a few top law schools of India. They are generally managed by students, who invite domestic and international law firms, companies and banks every year.
Sinha of NUJS said a feature of this year’s placement had been the increase in the number of pre-placement offers made by law firms and companies. Nine students from NUJS’s batch of 93 this year got such offers.
At NLSUI, 21 of the graduating class of 77 were recruited through earlier processes and pre-placement offers, its statement said.
These offers were made on the back of successful summer internships from legal firms.
Leading UK firms also recruited from the batch. Allen and Overy Llp, Clifford Chance, Herbert Smith Llp and LinkLaters Llp made two offers each.
Consultancies such as McKinsey and Co. and Boston Consulting Group also visited the campus.