What is the Salary of a Lawyer?

Table of Contents

• Experience
• Types of Lawyers on the Rise
• Salaried Positions
• Self-Employed
• Average Salaries
• Highest Paying Positions
• Conclusion

Experience

The amount of money a lawyer makes depends heavily on the lawyer’s experience. It is not uncommon for a lawyer to make six figures shortly after graduating from law school, if they manage to land the right job. However, it is far more common for lawyers to spend years in lower-paying positions before they can make six figures.

Types of Lawyers on the Rise

Certain types of lawyers are in higher demand than others. For instance, corporate lawyers are often highly sought after, as are lawyers specializing in technology law and intellectual property law. Other areas in which lawyers are making more money include bankruptcy, securities, and immigration law.

Salaried Positions

Many lawyers find salaried positions with large firms or with the government. Salaried positions come with the security of a steady paycheck, and the salaries for these positions can be quite high. According to salary data from the U.S. Bureau of Labor Statistics, the average salary for a lawyer employed in a salaried position was $141,890 as of May 2018.

Self-Employed

Lawyers who are self-employed, such as solo practitioners or those who work in small firms, typically make less than lawyers who work in larger firms and government positions. According to salary data from the U.S. Bureau of Labor Statistics, the average salary for a self-employed lawyer was $90,730 as of May 2018.

Average Salaries

Overall, the average salary for lawyers in the U.S. is $119,250 per year, which is significantly higher than the average salary for all occupations, which is $51,960 per year. This is due to the highly specialized nature of the field, and the competitive salaries that law firms and government agencies are able to pay.

Highest Paying Positions

The highest paying positions for lawyers are those in corporate law, patent law, and intellectual property law. These areas of law are in high demand, and the salaries reflect that demand. According to salary data from the U.S. Bureau of Labor Statistics, the average salary for a lawyer employed in a corporate law position was $154,310 as of May 2018.

Conclusion

Overall, lawyers make a good amount of money. The amount of money they make depends heavily on their experience, the type of law they practice, and the type of position they hold. Corporate lawyers, patent lawyers, and intellectual property lawyers tend to make the most money, but many lawyers make six figures in other areas as well.