A legal career has its own versions of ups and downs. Lawyers have the advantage of getting high salaries, wearing designer suits, and working in high-end offices. However, they still have to work hard to advance their positions in private law firms and public litigation. Lawyers usually stay up till morning to study and prepare cases. With these in mind, it is just enough that lawyers get decent paychecks. If you are considering a career in the legal industry, read the following so you’ll know what to expect.
Salary range of a lawyer
Salaries of lawyers are determined by a number of factors. Their experience in the legal profession is just one of these. Based on the September 2008 PayScale report, fresh law school graduates who are just starting their careers in the legal profession earn an average of $50,000 per year. After 10 years, a graduate’s salary increases as much as $30,000. After twenty years of leaving law school, a graduate can earn as much as $100,000 annually.
A lawyer’s specialization also plays a role in his or her salary. A lawyer for corporate affairs can earn at least $85,000 annually. This, so far, is the highest earning specialization for lawyers. Graduates who specialize in litigation and appeals, on the other hand, can earn as much as $75,000 per year. Real estate lawyers can have an annual income of $74,000.
The workplace of lawyers is also a consideration. Government lawyers can earn at least $91,000 per year. Lawyers handling hospital legal concerns earn about $83,000. Those who are working for non-government organizations can have a median salary of $54,000.
Jobs of law school graduates
Law school graduates can opt not to practice law. As a matter of fact, they can get positions in various industries. Graduates can qualify for jobs focused on litigation, insurance defense, and education. Finance and media industries also offer positions for law school graduates. Top level and mid-level positions in these industries can also be offered to lawyers. However, their job offer can be determined by their pre-law school job experience, legal specialization, years of experience as a lawyer and law school academic standing.
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