As most of these LLM graduates start off on the academic side of things, the pay grade is equivalent to that mandated by the UGC for all institutions in all states. You can get a job role for an Assistant Professor or the likes. 

However, this does not stand true for Private Institutes that hire LLM graduates. They most times than not, do not pay more than the government institutes. But it all depends on your personal choice and the kind of work environment you would like to be in. 

You can always consult with the immediate batches to understand the current standings on the placement front. Connect with them one-to-one and you might get a better and clearer idea of what to expect.