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Know one example of a person who went back to India, set up his own shop, and now has 80~ lawyers under him in three different offices. An example of staying here would be of Counsel at Large firm, a GC at a corporate. If you're going to stay, you're better off doing a JD post-LLM to get into a local track. Much harder if you're an LLM, not to mention, much longer timeline.
That depends on what your long term goals are?
LLM who stayed back here - it’s tougher to stay and get a law firm or really any job here and for good reason. If you wish to work in the US, you may want to consider getting a JD. Also remember that the work visa process is terrible for lawyers. If you want to get a job at a US firm, Hong Kong & Singapore are probably the easiest locations but there aren’t that many jobs in these places.. so opportunities aren’t easy to come by.