If you are considering to enter law school, you should know that a legal career has extreme ups and downs. The ups include enjoying a lot of money, working in sleek offices and wearing designer suits. The downs, on the other hand, include working until the morning to prepare for a case and getting sued, at times, for malpractice. Considering the downside in a legal career, a lawyer deserves the amount he or she gets in his or her paycheck. Below are what you must expect in terms of salary and job in a legal career.
What is the salary of a lawyer?
There are different ways to look at the salaries of lawyers. One is by the years of their experience in the legal profession. According to a September 2008 PayScale report, a fresh law school graduate just starting his or her career can earn about $50,000 per year. A graduate’s salary increases $30,000 more after 10 years, and then, doubles to about $100,000 20 years after he or she leaves law school.
In terms of a lawyer’s area of specialization, however, figures vary. A lawyer earns most (about $85,000) if he or she specializes in corporate affairs. Litigation and appeals is the next highest-paying specialization offering a little above $75,000. The third most lucrative practice area for a lawyer is real estate where he or she can earn about $74,000 annually.
Salaries of lawyers are also different if you consider which entity they work for. Lawyers working for the government can earn more or less $91,000 while those handling hospital legal concerns earn about $83,000. And if they work for non-government organizations, lawyers earn least with a yearly median salary of $54,000.
What are jobs for law school graduates?
Other than having their own practices, law school graduates can also apply for jobs in various industries. Some industries law graduates can enter are litigation, insurance defense, and education. Graduates can also apply for jobs in finance or media industries. And depending on factors like pre-law school job experience, legal specialization, and years of experience as a lawyer, graduates can have top-level or mid-level job positions.
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