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What Areas of Legal Practice are the Highest Paying

By Edited Jul 27, 2016 0 0

Late nights studying for the Bar shouldn't go unrewarded, just as your student loans shouldn't go unpaid. Salary is naturally an important consideration when it comes time for legal students to choose a specialty. You deserve something in return for all your hard work, and you have serious financial; responsibilities when it comes for paying for school. You may want to do good in the world, but you also want to make good money doing it. This guide highlights the highest paying areas of legal practice.

Getting a solid handle which legal specialties pay the most can be difficult as there isn't much solid data available. Even lawyers find it impolite to talk about what they make. When the National Association for Law Placement publishes its annual review of legal salaries, even they don't break the figures down according to branches of legal specialty.

Private Firms
Most legal professionals agree that private firms often start their new attorneys out at a set salary, regardless of their specialty. Careers will naturally center on a particular area of expertise as they mature, but the pay will depend on economic factors as well as market demand for the work at that time.

In-House Attorneys
In general, in-house attorneys can make higher salaries than those working for firms. Among the highest paying are the financial service industries, as this is where the money is at and cash always involves legal issues. Patent lawyers, particularly those with a pharmacology, chemistry or electrical engineering background, currently experience high salaries in today's market.

Follow Your Own Interests
Even if you interview for a particular specialty, there's no guarantee you'll end up working in that specialty for any given firm. When it comes down to it, you are better off pursuing your own interests, like jobs for contract attorneys . This can help instill greater passion in your career, building a more successful enterprise that makes more money. Markets vary according to the demands of the legal profession, but your interests can be the best way of finding a specialty in which you'll thrive. This is your career. Make it one you care about deep enough to create a successful approach.

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