Industries and States Where Lawyers Earn the Most

Industries and States Where Lawyers Earn the Most

Law is clearly a very lucrative industry, but some sectors earn more than others and on this page we’ll look at the most profitable sectors of the legal profession, as well as some of the factors that can impact on a lawyer’s potential earnings.

Personal Injury Law

There are many lawyers working in this sector that don’t make a lot of money. It’s a saturated sector after all. But the ones who tackle the bigger cases and have the knowledge and the skill set to win, are able to make huge sums of money.

The law firms that tackle the biggest cases make tens, if not hundreds of millions a year and the biggest and best lawyers in the firm are able to profit from this. A personal injury lawyer who is prepared to work hard and to tackle the toughest cases can make more money than many business lawyers.

Speaking of which…

Business Law

Businesses that make vast sums of money need experienced lawyers on their side and they are prepared to pay a pretty penny for them. One of the biggest sectors is the Beer, Wine and Spirits industry. This is constantly facing backlash from the authorities, and the biggest companies are always selling off old brands, starting new ones, and merging with their competitors.

Lawyers in this sector can earn over $200,000 a year, and the same is true for businesses that deal with semiconductors, industrial machinery and air transportation.

Government Law

Lawyers in the federal government can earn 40% to 50% more than those working in local or state government, with local lawyers earning slightly more than state lawyers on average. In fact, state government lawyers earn between $80,000 to $90,000 on average, which is one of the lowest in the legal sector.

Solo vs Law Firm

There is a huge difference between the lowest paying law firms and the highest paying law firms. A highly experienced lawyer can expect to earn anywhere from $150,000 a year up to $800,000 a year depending on which firm they work for. Their skill set and their level of experience doesn’t necessarily need to change, but their pay can change drastically.

Solo practitioners can earn a lot more than the lower earning employees, but only if they get the work and this isn’t always a guarantee. In fact, a solo practitioner earns an average of $50,000 to $70,000 per year and relies heavily on big cases to stay afloat.

The Biggest Factor

As mentioned above, whether a lawyer works for a firm or for themselves is one of the biggest factors affecting their salary. But an even bigger factor is where they live. A lawyer working in the state of New York or California can stand to make a lot more money than a lawyer working in the state of Kentucky, for instance.

The highest earning state for the legal sector is D.C, but there are some isolated cities in states like Florida and Texas that can be very lucrative for experienced lawyers.

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