An anomalous conclusion presents itself if we place the recent “voluntary” disclosure of assets by Supreme Court judges in the context of the amounts made by other members of the legal profession. Over the past decade, the practice of law has became much more attractive, financially. There has been an infusion of youth into the Supreme Court bar in the last five years, the market for corporate transaction advisory practices has exploded, and the salaries on offer when firms and companies recruit graduates from India’s leading law schools has gone through the roof. However, as with any discussion on the salaries of Indian public officials, we need to consider the easy and convenient link to corruption, and the need to attract good talent.

On the corporate practice side, a salaried partner (typically under-35, and working in metropolitan cities) at a large national corporate law firm today earns above Rs 60 lakh a year. Lawyers working within legal teams in Indian companies make tidy sums too. The growth of the profession has also opened up lucrative options for graduating law students who have the option of starting at salaries in excess of Rs 12 lakh a year.

On the litigation side, lawyers have to spend years negotiating non-viable monthly income in the hope of increasing their independent practice and obtaining financial security. Today many senior advocates of the Supreme Court are sensitive to the financial security of their juniors. This turnaround is reason for cautious optimism. Many experienced litigators in the country make enough in one week to make the annual salary of many professionals seem a pittance. (Rightfully so, as the returns in litigation are skewed towards the later years of practice.)

... contd.