No matter if you are an established attorney seeking a higher salary or an aspiring law school student contemplating their career choices, picking the appropriate legal specialty early can have lasting ramifications. Focus on becoming a Big Law partner or landing senior in-house counsel roles – or even building up high volume personal injury practices for higher earnings potential.
1. Corporate Lawyer
Decidng whether or not to become a lawyer should depend on your interests and career goals, though the legal field offers many opportunities for earning substantial amounts while upholding professional integrity.
Corporate law lawyers are among the highest paid lawyers, representing large corporations in legal matters such as drafting legal documents, conducting transactions and due diligence checks and helping when facing legal obstacles or challenges to business operations.
Salary expectations for corporate litigation lawyers depend on several factors, including size and location of their firm as well as specialization of cases that command high dollar amounts. A professional and informative law firm website with comprehensive case histories can also play an integral part in winning over high-earning clients.
2. Tax Lawyer
Tax law could be the perfect career option if you enjoy solving complex financial and policy puzzles, and are interested in keeping abreast of ever-evolving tax code changes. Staying ahead is essential if this path is chosen; stay abreast.
Tax professionals offer invaluable support for individuals and corporations as they navigate federal, state, and local tax regulations in order to minimize liabilities and develop legal strategies that support growth of businesses.
As an attorney, you can also help companies defend against criminal tax charges by defending against allegations of tax fraud, and act as a trusted advisor for nonprofits by helping them maintain their tax-exempt status. Employment can be found at large law firms, accounting firms or private practice settings and your salary could depend on factors like experience and location.
3. Intellectual Property Lawyer
Intellectual property lawyers provide invaluable assistance to creators who wish to safeguard their artistic or scientific works, as well as reacting to any unlicensed use of products or inventions by others, such as copyright infringement.
Patent law is an increasingly lucrative field that demands in-depth knowledge in specific fields. Patent attorneys help inventors secure patents that prove their invention was original.
Latham & Watkins boasts an acclaimed team with years of experience handling patent litigation on both trial and appellate levels. It is widely renowned for its expertise in pharmaceutical and life sciences industries, particularly with respect to Hatch-Waxman matters; furthermore it is well known for its work with post grant proceedings before the Patent Trial and Appeal Board (PTAB), post grant proceedings before it and noncontentious portfolio advice/counseling services offered as well.
4. Employment Lawyer
Employment lawyers provide crucial assistance for employees claiming discrimination based on age or sexual orientation while helping employers comply with labor laws. Furthermore, these professionals assist in union matters.
As a lawyer, your salary will depend upon which specialization you pursue and your location; typically larger cities provide greater earning potential for their attorneys than rural regions; however, your paycheck should still provide enough to maintain a comfortable lifestyle if chosen properly.
5. Real Estate Lawyer
Lawyer income can differ significantly depending on their area of law practice. Specialization and bonus potential play a vital role in long-term earning potential.
Real estate attorneys who work with real estate clients can enjoy very lucrative salaries. These attorneys assist their clients with issues related to buying, selling and leasing commercial and residential real estate as well as helping them navigate zoning laws and property development projects.
Hourly billing rates and flat fees may both be options. Attorneys who specialize in high-value transactions can earn over $150,000 annually; other highly lucrative areas of law such as medical malpractice, pharmaceutical regulation and immigration also present significant opportunities.