The concept of those in law making very good money is no strange happening to most. People are well aware of the affluent rewards reaped from a position in law, but some lawyers such as Steinberg Goodman & Kalish make a whole lot more than others. Not every law career was created equal.
That said, for those students currently studying law, it is important to decide early on the direction of a future career. The median income is reportedly a little over $110,000 a year. But some subsets of the field more than double those numbers each year (more about this can be learnt about by talking to recruiters for the legal industry like Alex Gotch).
However, before moving to the subsets of the field, it is necessary to learn about the main branches of the law industry. Note that these can also prove to be top-paying career paths for students dealing in legal.
Lawyers in the medical field
Lawyers in the medical field make a killing (pun intended). Some of the most extreme paychecks go to those who work through malpractice and wrongful death lawsuits. Sometimes these cases can be very high profile, resulting in an even larger paycheck.
Five years ago, the average salary for a medical lawyer was around $240,000. Malpractice and other troublesome lawsuits are not the only situations in which a medical lawyer can be of assistance.
Some women’s clinics employ lawyers to advise patients on difficult legal situations like eviction and other economic challenges. The idea is to alleviate outside stressors that could affect the women’s health.
High profile trial lawyers
Trial lawyers are the ones the general public see on television. They make quite a disgustingly delightful income as well. Litigators that handle high profile trials with very high stakes tend to make the most.
Depending on who an attorney is being paid to represent, their yearly salary could double with one successful case. The stakes are extremely high in these instances.
Intellectual property lawyers
An intellectual property attorney can make close to $300,000 per year if they land a big case. Intellectual property laws were set forth to protect the individual’s rights to their idea. Patents, copyrights, trademarks, and other profitable concepts are included under the definition of IP.
Tax lawyers do just what their job title describes. It is their job to know the country’s tax laws like the back of their hand. Tax attorneys work with the individual and with the corporation to clear up tax discrepancies and other issues.
Working in taxes is not the most glamorous of positions for a fresh out of law school hotshot, but it pays the bills. The median income of tax attorneys hovers right around $100,000 a year.
Employment and labor attorneys
The mediators between employers and their employees make a fair wage. Employment and labor attorneys raked in about $82,000 last year. The higher end of the spectrum brought in a paycheck averaging around $90.000 per year.