Law firms hike salaries to retain talent as foreign cos troop in- Jobs-News By Industry-News-The Economic Times
In a rapidly globalizing world, it seems no one is immune from the upward salary pressures some of the major US and UK firms are creating. As this article suggests this trend is now even reaching India. There is still a significant differential between US and UK starting salaries and Indian starting salaries, but the gap has gotten narrower at all levels it seems. This may trend may also hit the Indian legal outsourcing firms that offer Indian common law trained attorneys for research and other tasks typically performed by lawyers in the US and elsewhere. My guess it, however, that these outsourcing firms are not hiring the types of lawyers who might command the higher salaries being offered by some of India's more prominent law firms. Also, as India does not permit foreign law firms to establish there, there will not be the internal price pressure of having a US or UK firm paying higher salaries in the local economy.
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