There are many reasons why people choose to practice a profession in law; to work in a stimulating work environment. To help others who need the help of a talented lawyer; to achieve the status and social status that a university doctor can enjoy. But the only thing that all lawyers will agree with though they rarely admit it is that one of the main reasons why many lawyers become is because of the potential financial rewards that a legal profession can offer… The question then becomes … How much do lawyers earn? Which areas of law are most profitable? Finally, how can you put yourself more firmly to reach those positions that will gain personal wealth?
Although there is no sure way to ensure that you get a law degree that makes you productive, there are some rules you should keep in mind and some areas of law that are likely to become the final result than others. One state is that private law firms always pay more than public sector jobs. A survey conducted in 2001 found that among graduates at one of the top 20 law schools, the average job in the public sector was $ 50,000, while the salaries of private companies doubled by $ 125,000.
The next thing to keep in mind is that, like many jobs on Wall Street, a large proportion of equal pay lawyer earn income through the bonus structure. There are no bonds generally in the public sector or judicial positions, while those who work in corporate law jobs can offer bonuses, but usually not as much as private companies provide. It is not uncommon for a private company to have a good position that the gift is 100% or much more than the basic salary.
This potential feature involves risks, of course … If your company does not offer successful cases, it is possible they reduce the number of employees quickly or even collapse. However, the potential advantage can be very profitable, which is why positions in selected private companies can be exceptionally competitive. Partners in a “top” legal firm can get $ 500,000 or even $ 1,000,000 or more. With the fact that private companies are established as the most profitable, any areas of law are the best and have the highest salary and reward potential.
For a long time, “personal injury” was particularly profitable because of the amazing amounts of damage sustained over a long period. With the proliferation of law schools, the general “limit” of typical lawyers’ training standards and changes in the legal system to establish “limits” for certain types of injuries and awards, this is no longer the case.
At present, take some of the best areas to practice the law in mind “double experience” or “specialized categories.” For example, drug law, intellectual property/patent law, corporate law, commercial real estate, taxation, regulatory compliance, and complex civil and commercial litigation. With this in mind, working in large national companies that are likely to take “class” actions or “big goal” issues often have more advantages than smaller local businesses.
The lowest was for the “normal” public sector, the administrative centers and the highest positions in leading law firms in private national companies. This indicates the disparity … and the importance of attending the Faculty of Law at the first level and targeting national private companies if the primary objective of income is to obtain the legal education.