The corporate sector is the backbone of the Indian economy and contributes approximately 53% of the total GDP in the country. Corporate law involves overseeing legal and external affairs including litigation, compliance, mergers and acquisition, contract matters, and international trade issues. The corporate sector in India has witnessed immense growth in the Indian Market and continues to grow at a rapid speed.
One of the most crucial eligibility criteria to become a Corporate Lawyer is that aspiring candidates must be a citizen of the country and should not be less than 17 years of age. Apart from this, the basic qualifications required to become a Corporate Lawyer include candidates having completed 3 or 5 years of Law courses such as BA LLB, LLB or B.Sc LLB etc. from top law colleges in India such as National Law University, NALSAR and others.
To get admission across top Law colleges, candidates are required to clear various Law Entrance Exams such as CLAT, AILET, SET, LSAT, AP LAWCET etc. After completing the course, candidates can start their practice in the corporate sector. Candidates can also pursue various certification programs for the development of essential and relevant skills such as drafting, mergers and acquisitions etc.
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The average salary of a Corporate Lawyer is INR 5.90 LPA. Several important factors play an important role in determining the salary of a Corporate Lawyer such as academics, experience, and skills. As per Upgrade, Corporate Lawyers with corporate governance skills earn 131% more than the average. If we talk about experience, fresh graduates earn INR 4 LPA while candidates with 5 - 6 years of experience earn INR 6.50 LPA.
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Table of Content
What does a Corporate Lawyer do
A Corporate Lawyer is responsible for handling a firm’s legal transactions, partnerships and projects while making sure that all laws and regulations are incorporated and followed. They are also in charge of maintaining the best interests of their client while avoiding all possible risks and violations. Some of the duties of a Corporate Lawyer have been mentioned below:
- They are responsible for preparing all legal documents for a trial and court proceedings.
- They must represent their company in legal proceedings and avoid legal complications as much as possible.
- Take on client pitches, comprehend their situation and act in their best interest.
- A Corporate Lawyer must negotiate deals between companies and prepare all the necessary paperwork.
- They must also properly and thoroughly research the company before proceeding with any kind of deal.
- Guide the company regarding the legal and regulatory compositions to ensure that the company does not land into any complications.
Check: Types of lawyers
Steps to Become a Corporate Lawyer
There are certain steps that need to be taken in order to pursue a career as a Corporate Lawyer. Some of the important steps are discussed below for your reference,
- Clear the Entrance exam - Candidates are required to clear the entrance exam such as CLAT, AILET, SET etc to get into the top law college in India. The entrance exam will consist of topics such as logical reasoning, current affairs, general knowledge, and English. These entrance tests will evaluate candidates for English, logical reasoning etc.
- Earn Bachelor’s degree - Candidates must pursue a 3-year or 5-year law program. These law programs focus on various laws including case studies. Candidates can choose their specialization as per the choice in which they want to pursue their law career. Candidates will learn to write case studies, conduct research work, undertake moot court programs etc.
- Gain relevant skills - Due to heavy competition in the law field, gaining practical knowledge and work experience will help to gain relevant skills. Candidates can also pursue various certification programs focussing on the development of skills which will help candidates to stand out. Some of the important skills are discussed below for your reference,
- Negotiation skills - It is one of the most important aspects of a law career, especially for ones who want to pursue a career in litigation. A good lawyer needs to be a good negotiator too. There are several online programs offering courses in negotiation by Coursera, edX, and Udemy.
- Contract Drafting - Contract drafting is one of the most important skills, especially for dealing with corporate law. Candidates might be required to put up new deals on paper, renew old deals, build relationships etc. candidates will get to learn different types of contracts such as Dispute resolution, non-disclosure agreements, MOUs, and employment agreements.
- Intellectual Property Rights - It is very important for the candidates to understand the basics of Intellectual property rights as now the companies have a large number of intellectual property assets now the market is more innovation-driven.
- Register with Bar Council: It is mandatory for the candidates to register themselves provisionally with the bar council of the state. candidates are required to submit all their documents and pay the required fees to get themselves provisionally registered. Post that, candidates are required to appear for the Bar exam to get their permanent practice license.
- Take the Bar Exam: In order to practice litigation, candidates are required to clear the All India Bar Exam (AIBE). The Bar Council Of India conducts this examination and issues a permanent certificate of practice.
- Pursue a Master’s degree: It would be very beneficial for the candidates to pursue a master’s degree. There are various specializations that this program offers such as in entertainment and media, civil, healthcare, environmental law, and commercial law. Candidates must choose their specializations based on their choice.
Read More: Steps to Become a Lawyer
How Long does it Take to Become a Corporate Lawyer
It might take years and a lot of hard work and patience to become a Corporate Lawyer. If one is directly pursuing a 5-year integrated BA.LLB, B.Sc LLB, BBA LLB etc then it will take 5 - 6 years. However, if the candidate is pursuing a 3-year LLB program, then a minimum of 6 - 8 years (including 3 - 5 years in graduation and 3 years of LLB programs) will be the total duration of becoming a Corporate Lawyer.
After completing their education, candidates are also required to register themselves in the Bar Council. Post that, candidates get a license to practice in court or a corporate environment. As one gains some experience, it would be beneficial for the candidates to pursue a master’s degree i.e LL.M and choose their specialization accordingly.
Qualifications to Become a Corporate Lawyer
There are several educational as well as other necessary prerequisites that the candidates must fulfil in order to become a Corporate Lawyer. Some of the qualifications are listed below for your reference.
- Candidates must have completed 10+2 from a recognized institute in any discipline with a minimum aggregate of 50% or above.
- Candidates need to clear the entrance exam such as CLAT, AILET, SLAT, etc to get into top law colleges in India.
- After 10+2, candidates can pursue a 5-year integrated law program such as BA LLB, BBA LLB, B.SC LLB etc.
- If the candidate is pursuing a bachelor's degree in any discipline other than law, they need to pursue a 3-year LLB program.
- In order to pursue a 3-year LLB program, candidates need to clear the entrance exam such as CLAT, AILET, SET, LSAT, AP LAWCET, MH CET, etc.
- Candidates need to choose their specialization such as labour, family, criminal, constitutional, environmental, company, property law, intellectual property law etc.
- Candidates need to get themselves provisionally registered with the Bar Council of any state by submitting the required documents and fees in order to start practising.
- Within a 2-year period from the date of registration in the bar council, candidates need to pass the All India Bar Examination to get themselves permanently registered with the Bar Council of India.
- Candidates can also pursue master’s degrees such as LLM in Corporate law, corporate and securities law, corporate and commercial law, etc. if the candidate wants to make their career in corporate law.
Are Corporate Lawyers in Demand
Corporate Lawyers are in high demand because almost all companies and government bodies need them for legal advice and guidance on various issues. Moreover, since the private sector is expanding rapidly with the emergence of new companies, the demand for Corporate Lawyers has increased manifolds. A qualified Corporate Lawyer is the need of the hour for newly established firms or for already existing firms as they need legal support.
In the private sector, a merger between companies and buying and selling of companies is also a common practice which requires the vigilance of a Corporate Lawyer who can look into the legalities of the matter and thoroughly research the company’s positive and negative aspects. They guide the buyer company about the benefits of buying another company and ensure that they do not make a deal that would bring them a loss. In the case of mergers as well, the lawyers look into the legalities of the merger and prepare all the paperwork that is necessary.
Therefore, it is due to the above-mentioned reasons that the demand for Corporate Lawyers is growing and there is an increased need to hire Corporate Lawyers, especially in the private sector. Read More: How to become a Lawyer
Corporate Lawyer vs Commercial Lawyer
Corporate Lawyers and Commercial lawyers perform almost the same duties related to the business world but their areas of focus can be different. Corporate Lawyers work with specific corporations in legal departments but commercial lawyers work in all business-related matters.
Corporate Law | Commercial Law |
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Corporate law deals with the purchase and distribution of goods, corporate law is the area of law that regulates the creation of companies, shareholder rights, mergers, and acquisitions. The central government and state governments have various responsibilities when it comes to regulating corporate law. To regulate stock purchases and workplace safety and security, the federal government has laws in place, and when necessary, the states enact additional legislation. | Commercial Lawyers are responsible for establishing commercial law across various entities such as government bodies, private organizations or even mergers between the two. Commercial Law controls the buying and selling of goods in the United States. The states use it as a guideline when drafting new laws to control commerce. It is crucial to have a Commercial Lawyer who is knowledgeable in the specific state's business rules because the majority of states have UCU regulations that have been drastically amended. |
Corporate Law has a wider impact on businesses. Contracts, taxation, and employment law are some of the topics that corporate law attorneys deal with. Contrary to commercial law, this type of law is more prevalent. | Commercial Law has a huge impact on corporate enterprises. Legal disputes involving the breach of crucial components of business law are the subject of involvement by numerous organizations. |
Corporate Lawyers usually make less money than commercial lawyers but it also depends on qualifications, skills, experience, location, company and experience. The average salary of a Corporate Lawyer is INR 10 LPA | The average salary of a commercial lawyer is INR 12 LPA. |
Salary of a Corporate Lawyer
The average salary of a Corporate Lawyer is INR 5.90 LPA. There are certain factors determining the salary based on their qualifications, skills, experience, location and firm they work in. Freshers can expect a starting salary of INR 4.11 LPA which can go up to INR 26 LPA. If the candidate opens his own firm then in that case the candidate can make a good amount of money. Tabulated below is the salary of a Corporate Lawyer based on their job profile for your reference.
Specialization | Average Annual Salary (INR) |
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Environmental Lawyers | 5.56 L |
Family lawyers | 5.61 L |
Labour lawyers | 6.04 L |
Constitutional Lawyer | 7.56 L |
Intellectual Property Lawyers | 7.60 L |
Tax Lawyer | 6.00 L |
Criminal Lawyer | 5.40 L |
How to Become a Corporate Lawyer: FAQs
Ques. Can I become a Corporate Lawyer after completing BBA LLB?
Ans. Yes, one can become a Corporate Lawyer after completing BBA LLB by joining law firms.
Ques. Do Corporate Lawyers get paid well?
Ans. Yes, Corporate Lawyers with an experience of 0-4 years earn an average salary of around INR 5.50 LPA. The highest salary a Corporate Lawyer can earn can go in crores.
Ques. How long does it take to become a Corporate Lawyer?
Ans. To become a Corporate Lawyer, it takes 5 years of study and 1 year of internship experience to become a Corporate Lawyer.
Ques. Which are the top law schools to become a Corporate Lawyer?
Ans. The top law schools to become a Corporate Lawyer are:
- National Law University, New Delhi
- Symbiosis Law University
- National Law School of India University, Bangalore
- National Academy of Legal Studies and Research University, Hyderabad
Ques. Which entrance exams can be taken to join law school?
Ans. Entrance exams that can be taken to join law school are:
- CLAT
- AILET
- MCET
- SET
Ques. What are the different fields of corporate law?
Ans. There are many domains within corporate law like:
- Intellectual Property Rights
- Merger & Acquisition
- Banking
- Business
Ques. Do Corporate Lawyers earn in crores?
Ans. Yes, Corporate Lawyers with qualifications, skills and more than 15-20 years of experience can earn in crores.
Ques. Can a Corporate Lawyer become a high court judge?
Ans. No, only lawyers practicing under the government like high court and supreme court lawyers can become judges.
Ques. Is LLM compulsory to become a Corporate Lawyer?
Ans. No, LLM is not compulsory to become a Corporate Lawyer but a LLM degree with specialization in corporate law can benefit employment.
Ques. Is BA LLB better or BBA LLB better?
Ans. The subjects taught in both the courses remain the same except for the fact that BA LLB is more humanities oriented and BBA LLB is more business oriented. However, the employment opportunities after completing both courses shall remain the same.