It is a common misconception that business attorneys command the greatest salaries. Personal injury attorneys, criminal defence attorneys, and lawyers specialising in other areas of law can all earn as much as corporate lawyers. It may come as a surprise to find that in 2019, attorneys in the United States earned an average annual compensation of $122,960. The average salary of a barrister is reported to be $144,230 by the American Bar Association. A lawyer’s salary is often in the middle-class range. They choose a career in law because they have a genuine interest in the subject and like assisting others who are in need.
The job forecast for lawyers is good, but salary increases are expected to be about average compared to other professional fields. Because of this, the typical attorney’s wage expectation over the next decade is between $59,000 and $208,000.
Which areas of the law typically reward lawyers with the highest salaries?
Lawyers who focus their careers on niche areas of law where advanced expertise in a narrow body of legislation is required might expect to earn more than their more generalist colleagues. A lawyer’s salary is not guaranteed to be higher in a certain practice area simply because it is more specialised.
A barrister who specialises in personal injury cases, for instance, may command a higher salary than one who represents oil companies. How much a solicitor can make is highly variable and is affected by several different aspects. With that in mind, I’ve included brief summaries of many subspecialties of law, along with an estimate of the average salary for attorneys in those fields.
Corporate Legislation
General counsels at large companies can make several million dollars a year. Contracts, employment law, corporate structure, intellectual property law, and litigation are all under the purview of the general counsel. It is common practice for a company to have a general counsel who is responsible for managing the work of other attorneys and outside counsel.
Regulations Regarding Offenses Against the Public
Criminal defence attorneys help people whose cases involve criminal investigations or arrests. Depending on the nature of the criminal cases a solicitor takes on, there might be a significant disparity in pay. A lawyer who specialises in murder cases, for instance, might expect to make more per hour than one who defends clients accused of minor offences like shoplifting and speeding.
Injury to Person
The scope of “personal injury” is broad. Almost every situation in which someone is hurt due to the mistakes, carelessness, or malice of another person falls under this category. The homicide of another human being by an unauthorised third party is likewise included.
Most of a personal injury lawyer’s pay comes from the settlement or award they get for their client. The majority of legal professionals in this field take matters on contingency. They get compensated as a share of what they are able to get back for their clients.
Discharge of Debts Statutes
Bankruptcy lawyers help people and businesses navigate the bankruptcy process. In some situations, they may even help creditors file claims in bankruptcies. Bankruptcy lawyers that handle complex Chapter 11 business cases might command high fees due to the high demand for their services. Bankruptcy attorneys that help regular people file for bankruptcy typically make a living wage or slightly over it.
Regulatory Framework for Families
Another area of law where there is a significant need is family law. Divorce settlements often address all issues that arise during the process, such as child support, alimony, and property partition. Legal matters involving marriage and the establishment of parentage are within the jurisdiction of family law. Many family attorneys, like their counterparts in other practice areas, make a living wage or slightly more. It’s possible that divorce attorneys who represent high-net-worth clients or work on high-profile cases have substantially better salary potential.