Corporate law is lucrative

Q: I am doing a BBA at present and have plans to pursue law later. Is corporate law a viable option?

Dhritiman Bose

A: With the winds of globalisation sweeping across corporate India , the legal profession has undergone a sea change in recent times. This is especially true for corporate law where the rules governing companies have been rewritten with the opening up of the economy. Multi-crore deals have changed the complexion of the game, making corporate law a much sought-after career option.

Broadly speaking, corporate lawyers advise organisations on their legal rights and obligations. Very few matters actually go to court. Instead contracts are negotiated out of court to prevent chances of litigation. Earlier, 75 per cent of the work was transactional while litigation constituted only 30 per cent. Now the demand for lawyers with experience in securities and transactions is growing in proportion to the changes in the global marketplace. While till some time ago, only major companies did international business, today even small players have foreign transactions requiring the services of corporate lawyers who are well-versed with international law. M & A, IPO and GDR issues, taxation, due diligence, structured finance and banking are some of the key services offered by corporate law firms. Large corporate houses like KPMG have opened their own legal departments. And with global law firms poised to enter India, the market for corporate lawyers is on the verge of an exciting spin. Salaries are on an upswing ? averaging Rs 4 lakh for fresh graduates from reputed law schools and anywhere between Rs 1.5 and 3 lakhs in the smaller firms.

It may also help to specialise in areas like environmental law, IPR , patent laws, copyright and IP issues pertaining to entertainment and cyber laws .

Test your aptitude

Q: I am in the final year of my BTech (mechanical) course. Should I go for an MTech or pursue an MBA like most of my other classmates? I am confused.

Bijoy David

A: If you have a passion for the field, then an engineering career is ideal for you. Engineering still remains a ripe area for entrepreneurship and other jobs. But making a career decision is not easy. It is important to go by your interests and aptitude rather than by popular beliefs. A large number of engineering grads, and even mid-career engineers, opt for an MBA because a techno-management qualification is desirable in a global economy. However, if you are undecided, it may be a good idea to work for a year and see how you like it. You can always opt for an MBA a year or two down the line. By that time, you will have a clearer idea about your career objectives.

Travel BPO is the next big thing

Q: Could you please tell me something about the prospects of working in a travel BPO? How is it different from working in a travel agency?

Nilanjana Thorat

A: Mirroring the stupendous growth of the ITeS sector in India, global research firm Gartner Inc. predicts a parallel increase in growth related to travel to and from India. NASSCOM expects this sector to employ over 1.2 million people by 2008.

Last year’s influx of tourists gave travel BPOs a fresh lease of life. Instead of endlessly waiting to get connected to the operator, a customer calling to find out about vacancy on a particular Air India flight is simply directed to their call centre which deals with all queries except the issuance of tickets.

Travel BPOs are online intermediaries that help customers with booking of holiday packages, insurance and other travel related services. Travel advisers working in a travel BPO provide time and cost effective solutions to clients as well as details of online packages advertised by travel portals on the web. Their responsibilities also include providing administrative support to the organisation.

With regard to your second question, a travel BPO is quite different from a travel agency. For one, it operates on a 24/7 basis which means you work in a call centre environment. There is no frontline work and you don’t have to deal with the issuance of tickets or listen in to endless complaints from the harried travellers.

As far as training goes, many travel BPOs train you (on-the-house/for a fee) before taking you on board. A couple of years of work-experience in an airline or travel agency or acquiring an IATA/UFTAA certification and fluency in any foreign language would be an added advantage.

Q: I will be shortly completing my BTech (electrical). Please suggest some computer software courses to enhance my job prospects.

Dayanand Raju

A: If you wish to stick to the same field, a course in computer aided engineering would be useful for working in electrical design and drawing. However, if you would like to do something in IT on the networking side, then a course like CCNA would be of help. The telecom sector, which is currently on a roll, would also be a good industry to target for jobs.