Many people think that all attorneys make mega bucks but the reality is that there is a broad spectrum in terms of how much a lawyer could make. The two main differences are the type of speciality which an attorney chooses, and also the geographical location where they choose to work. In terms of geography you may find that a New Haven personal injury attorney makes more than a personal injury attorney based out of Albuquerque. This is not the case 100% of the time, but it can be an important factor. In terms of speciality, let’s take a look at which types of attorney, on average, make the most by way of salary.
The attorneys working in the field of medicine are often paid the most because of the depth of knowledge which they need to have around both the law and medicine. These are arguably two of the toughest subjects in the world. Very often these lawyers will work with hospitals to advise then on certain actions and others will work on claims such as personal injuries or medical malpractice.
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Intellectual Property Attorneys
The earnings potential for lawyers within this field has grown greatly in recent years, because of the fact that the field itself has grown greatly. Thanks to the dawn of the internet and a culture shift around the art of design, more people are seeking out IP lawyers to help them with copyrights, patents and other IP related issues.
These highly specialized lawyers work between business clients and government to create savings plans, to protect the assets of a business and to ensure that correct amounts of tax are being paid by businesses and large corporations. Tax law has a huge amount of complexities and anyone working in this particular area of the law must live and breathe it.
When we are talking average salaries the medical attorneys certainly make the most, but on an individual basis we often see corporate lawyers making the real big bucks. Very often these lawyers will be on retainer from some of the world’s biggest and most important companies. On top of salary a corporate lawyer can also expect to get commission for done deals and for advice which pays off for their clients.
There are some additional factors which have to be taken into consideration regarding how much a lawyer makes; beyond geography and speciality. For example salary will also depend on which law school they went to, the size of the law firm which they have decided to work for and also the level of experience which the lawyer has. Expertise and experience are often rewarded with increased salaries, which is why it is so important that attorneys work hard to create a great reputation during their careers.
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