
Understanding the Salaries of Lawyers in the United States
Are you considering a career as a lawyer in the United States? One of the most important factors to consider is the potential salary. The salary of a lawyer can vary greatly depending on several factors, including the area of law, the size of the firm, and the level of experience. In this article, we will delve into the various dimensions of lawyer salaries in the U.S.
Salary Range by Experience
The salary of a lawyer in the United States can vary significantly based on their level of experience. According to the U.S. Bureau of Labor Statistics, the median annual wage for lawyers in May 2020 was $126,930. However, this figure can be much higher for those with more experience.
Experience Level | Median Annual Salary |
---|---|
Newly Graduated | $65,000 – $75,000 |
1-3 Years | $85,000 – $115,000 |
4-6 Years | $100,000 – $150,000 |
7-10 Years | $120,000 – $200,000 |
11+ Years | $150,000 – $300,000+ |
As you can see from the table, the salary can vary greatly depending on the number of years of experience. It’s important to note that these figures are median salaries and can vary based on the specific firm and location.
Salary by Practice Area
The area of law you choose to practice can also significantly impact your salary. Some practice areas, such as corporate law, intellectual property, and litigation, tend to offer higher salaries compared to others, such as public interest or family law.
According to the National Association for Law Placement (NALP), the following are the median starting salaries for lawyers in various practice areas in 2020:
Practice Area | Median Starting Salary |
---|---|
Corporate Law | $160,000 |
Intellectual Property | $160,000 |
Litigation | $160,000 |
Banking and Finance | $160,000 |
Real Estate | $150,000 |
Public Interest | $60,000 – $70,000 |
Family Law | $70,000 – $90,000 |
These figures are median starting salaries and can vary based on the specific firm and location.
Salary by Firm Size
The size of the law firm you work for can also impact your salary. Generally, larger firms tend to offer higher salaries compared to smaller firms. This is due to the higher demand for experienced lawyers in larger firms and the potential for higher billable hours.
According to the NALP, the following are the median starting salaries for lawyers in various firm sizes in 2020:
Firm Size | Median Starting Salary |
---|---|
1-10 Attorneys | $70,000 – $90,000 |
11-25 Attorneys | $90,000 – $110,000 |
26-50 Att
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