What Is a Lawyer Salary?
Lawyers advise and represent people, businesses, and government agencies on legal issues and disputes. They are required to have a law degree and typically pass a stateâ€™s written bar examination. They can work in private and corporate legal offices, or they can represent individuals in arbitration or mediation.
The average lawyer salary is $127,990.
There are several factors that affect a lawyerâ€™s salary, including location, employer, specialty, and the time spent in the profession. In general, salaries in the United States are projected to increase 10 percent over the next decade.
Big Law Firms Make the Most Money
The largest law firms in the country tend to have high salaries. They also offer perks such as hefty bonuses. Some of these lawyers earn over seven figures a year.
Patent and Trademark Attorneys Get Paid the Most
A patent lawyer is one of the highest paid lawyers in the world. They protect the intellectual property of companies such as media, pharmaceuticals and tech.
Medical Law Specialists and Health Care Lawyers Are Another Top-Paying Field
Some medical attorneys specialize in defending hospitals and other health care facilities against lawsuits. Others represent individual patients who have been injured by the negligence of a health care professional.
Personal Injury Lawyers Are Another Top-Paying Field
Lawyers who specialize in personal injury cases are the most paid of all types of lawyers. They are paid on a contingency basis, so they receive a percentage of their winnings when they win their cases.
Real Estate and Family Law Practitioners Are Another Top-Paying Field
In addition to personal injury, there are other types of lawyers who make good money. In fact, some of the top-paying fields are patent and trademark lawyers, real estate lawyers, and family law practitioners.
Business Lawyers Are Another Top-Paying Field
The field of business law is one of the biggest industries in the country and it employs many attorneys. Some of the most popular business areas for attorneys are management, tax, consulting, and compliance. Recommended this site wilkes barre car accident lawyers .
These positions are highly coveted, as they often include lucrative perks such as a 401(k) plan. In 2017, lawyers with zero to three years of experience working in this field earned a median salary of $87,000.
First-Year Associate Pay Jumps in 2017
In 2017, the first-year salaries for law associates at large firms with 75 or more attorneys jumped 3.5 percent, according to Robert Halfâ€™s latest Legal Salary Report. It was the biggest increase for this group in a few years.
But salaries for first-year associates are lower at smaller law firms, where only about 50 lawyers work. That means that even as more Big Law firms adopt Cravathâ€™s new pay scale, the national mean and median salaries for graduates are still low.
Those who want to earn the most money are best off getting hired at a top-tier firm, where they can expect to start with a higher salary. Ideally, they should look for a firm that is located in a metropolitan area and has a large base of clients.