If you have a passion for our legal system and are looking for a lucrative career opportunity, finding out which is the highest paid type of lawyer is essential.
The law profession can be a rewarding and well-paid career. In recent years the earnings have increased, almost by double. How much you earn as a lawyer will depend on different factors. One of which is your location.
Certain states such as; California, New York, and Connecticut among others pay their lawyers higher wages compared to other states. States which have a small population, where law is not widely practiced, report lower earnings.
Read on for more information on additional factors and what makes for a successful la career.
What to Know About the Highest Paid Type of Lawyer
How much you earn as a lawyer will also depend on the industry that you are working in. Lawyers are needed in almost every industry. The industrial machinery manufacturing industry, scheduled air transportation, subscription programming, and so on.
Lawyers from these industries can earn around $190,000 to $200,000.
It will also depend on whether you are an associate or a lawyer and the size of the firm that you are working for.
If you get a job at a large firm you are likely to receive a six-figure salary while working at a smaller firm like means the salary may not be as high.
Partners will earn more compared to associates in a law firm. The field of law is like any other business. You have to choose the right location and your field of specialization so you can thrive.
If you want to work for the government you’re in luck. The federal government is tops the list as the highest paying employer (while the state government is at the bottom of that list).
Here are some of the highest-paid lawyers and their average salaries.
A Medical Lawyer
When you have a medical lawsuit or you want to file a claim due to medical malpractice you go to a medical lawyer. A medical lawyer is knowledgeable when it comes to laws that revolve around medical procedures and a patient’s rights.
They major in defending and representing clients who have injuries as a result of malpractice in the hospital. Some of the tasks that they perform include and are not limited to;
- Giving advice to their clients about their rights as they stand trial.
- Gathering evidence and keeping it safe so they can present it during the trial.
- Carrying out research on a medical claim that has been filed.
Medical lawyers are known to mainly give representation to medical facilities. A medical lawyer can earn around $150,000 per year.
However, if an injury occurred during a car accident, you’re more likely to need a car accident attorney than a medical attorney.
An Intellectual Property Attorney
An intellectual property lawyer helps their clients to acquire legal rights to their own inventions. This may include artworks, designs or new ideas that their clients have come up with.
The demand for IP lawyers is on the rise since they work on defending the rights of artists, business owners, musicians, and other artists as well.
As new innovations and inventions are on the rise in developing countries a lot of attention is being paid to intellectual property lawyers.
They are needed to help in giving advice about trademark laws, copyright, patent as well as other laws. These lawyers are likely to bring home an annual salary of $140,000.
Any time a person needs to be represented in a court of law they go to a trial attorney.
A trial attorney is responsible for giving representation to clients in a variety of different cases. They are expected to have extensive knowledge of the law in a wide range of areas.
Court attornies must well-read, keen, attentive to details, and should have a sharp mind. This will enable them to be able to pick up the smallest pieces of information and turn it into credible evidence.
With every new arising case they should study the different laws that revolve around it so they can be able to defend their clients. These types of lawyers are supposed to be confident and possess a good command of both the written and spoken language.
A trial attorney is likely to earn a little over $100,000.
There’s a fair amount of work that goes into becoming a tax attorney.
First, you have to take on a bachelor’s degree program in the field of your choice. However, if you intend to be a tax lawyer you may want to consider studying in a field that will help you carry out certain calculations.
After that you take the LSAT, go to law school and graduate, do the bar set exams and pass, and now you can work as a tax lawyer.
You can either work with the IRS, CIA, or other private firms that hire tax lawyers. Tax lawyers need to keep up with emerging trends regarding tax laws. This is because the laws are always changing.
A tax lawyer on average earns around $99,000. It can either be a bit lower or a bit higher depending on the employer and years of experience.
Corporate lawyers help their clients in checking the validity of contracts, sales, and properties. They have a keen eye for detail when it comes to doing this. They look out for loopholes or terms that are not really clear on behalf of their clients before they sign their contracts.
Corporate lawyers mainly work with businesses. They can help them draft a contract or handle the legal paperwork which is involved when a new business is being launched among other responsibilities.
A corporate lawyer earns a salary of around $98,000 and can also bag $66,000 on the low end each year.
Finding the Right Career for You
Knowing which is the highest paid type of lawyer is one important step towards finding the right career for you. However, there’s a world of possibilities out there.
We invite you to check out our blog for more advice on different careers to help you find the right path.