Subscribe Today!
Networked Blogs
Mar
30
Overseas Legal Salaries Rise With Outsourcing
Filed Under economy, law, outsourcing
Interesting news from the world of outsourcing jobs that Americans used to do.
Lawyers in India are receiving increases in their starting salaries as a result of legal outsourcing.
According to Legal Blog Watch, associates starting at Indian law firms will earn slightly less than $30,000.00 per year now.
To compete with foreign firms, large domestic Indian firms have been forced to increase pay, either through salary hikes, end-of-year bonuses or promotions. New associates earn around 12 lakh rupees per year, while senior and principal associates may earn anywhere between 35 and 80 lakhs (one “lakh” is the equivalent of 100,000 rupees, so according to this currency converter, a new associate earns the equivalent of $29,887, while a senior lawyer makes $199,252.
Indian legal salaries are not quite up to the level of starting legal salaries in America, but they are getting closer — meaning that cost savings gained by sending work overseas might lessen as overseas salaries near those for United States workers.
There is still an incentive for large law firms to send work overseas because of the cost savings over employing someone in the United States, especially when some big city law firms are paying their upper echelon starting associates $160K+ per year. (The median salary is $62,000 per year).
Writes Bill Henderson in Empirical Legal Studies, the average starting salary at a small law firm is $50,000 as of 2006.
Let’s face it: $40K to $55K per year is just not enough to pay down the avg. $85,000 debt (especially as interest rates climb) and still enjoy any kind of lifestyle that a professional degree is presumed to confer. The national median starting salary for a 2 to 10 lawyer firm is $50,000. There are a lot of struggling alumni out there. And do we really need more law schools? For many, getting a JD is a very risky financial proposition, especially when you factor in bar passage.
Comments
2 Responses to “Overseas Legal Salaries Rise With Outsourcing”
[...] factory jobs have been heading overseas for years — and companies are now sending legal work, IT and other white-collar assignments [...]
LPO Training Program & LPO Job Opportunities from Lawwave
Dear Friends,
Here is a great career proposal for law graduates and working lawyers in India to put their legal career on fast track!
Lawwave, a leading brand in legal outsourcing based in New York with its back office operation in Chennai, India is conducting Corporate and LPO Training Program in India to create excellent career opportunities for law graduates and working lawyers in LPOs and legal departments of MNCs.
The course content focuses on international legal practice and provides exclusive training and coverage on all the crucial areas of practice that are highly relevant to carve a niche in the legal industry.
The program offers exclusive career-counseling, resume-building and interviewing sessions for the candidates.
Lawwave provides placement assistance to candidates and their resumes are referred to LPOs and corporate.
The main highlight of the program is Complimentary Internship which offers the candidates with live LPO research and review assignments to work on. It greatly helps the candidates in developing a keen practical insight about the functioning of the LPOs and corporate before joining the industry.
The candidates are assured of an advanced skill set and a growth-oriented career path after successfully completing the Lawwave LPO Training Program.
For further details about the program, please visit the URL http://lawwave.com/lpotraining_program.htm
Also check out the YouTube link http://in.youtube.com/watch?v=0N8KsWTy_Xo to watch a live video of the training program conducted at Chennai, India and get a glimpse of Lawwave’s US trainer, trainees and the classroom environment at Lawwave Training Center!
Lawwave Corporate & LPO Training Program is scheduled to commence in the months of September 2008 and October 2008 in Chennai (at Lawwave Training Center) and Delhi (at India Law Institute Opp. SC Chambers) respectively
If you are interested to learn more about this great career opportunity, I would be glad to invite and reply to your comments and questions. Thanks!