Outline
Types of Corporate Lawyers
Corporate lawyers practice corporate law, which deals with the formation, operation, and dissolution of corporations. They advise corporations on compliance with regulations and the responsibilities of shareholders, directors, and officers. Corporate lawyers also handle mergers and acquisitions, real estate transactions, labor and employment law, intellectual property rights, tax law, and securities law.
Corporate Lawyer Pay
The pay of corporate lawyers varies based on experience and geographical location. According to PayScale, the median annual salary for corporate lawyers is $90,125, with a median hourly rate of $50. However, those figures represent a range—from $48,000 to $186,000 per year—which is quite broad.
Maximum Hourly Rate
For corporate lawyers with the most experience, the highest hourly rate may not exceed $800 per hour. The highest paying law firms may offer starting corporate lawyers salaries of $160,000 to $190,000 plus bonuses. However, most lawyers—even those in high-paying law firms—earn significantly less than this.
7-Figure Corporate Lawyers
Although seven-figure salaries are not common for corporate lawyers, they are not unheard of. These salaries are generally reserved for partners in large law firms who have the most experience and have built a successful book of business. They may also be paid to corporate lawyers in the most lucrative cities, such as New York, Los Angeles, and San Francisco.
Lawyers in Los Angeles
According to PayScale, corporate lawyers in Los Angeles earn a median salary of $111,852 per year. This figure is higher than the national median salary because Los Angeles is one of the most expensive cities in the United States. Therefore, corporate lawyers in L.A. may be able to make more than the national average.
Overall, the amount corporate lawyers make per hour depends largely on experience, geographical location, and the type of corporate law they practice. Those working in large firms may make more than those working in smaller firms, while those working in large, expensive cities may make more than those working in more affordable areas. The most highly-paid corporate lawyers may make up to $800 per hour, while the average is closer to $50 per hour.
In terms of the type of lawyer that gets paid the most, the highest paying law firms typically employ corporate lawyers with the highest experience and the most successful books of business. Although seven-figure salaries are not common for corporate lawyers, they are not unheard of. Corporate lawyers in Los Angeles may make more than the national median salary because Los Angeles is one of the most expensive cities in the United States.
Disappointing to hear the hourly pay rate of a corporate lawyer is lower than expected.