The average salary of a lawyer: An overview
Average Lawyer Salary, According to the Bureau of Labor Statistics (BLS), the median 2015 pay for lawyers in the United States was $115,820. The hourly pay for lawyers was $55.69 per hour, although, of course, many lawyers bill far more than this hourly rate for their services. The basic qualifications for lawyers are strictly enforced. Lawyers must have a law degree and be on the agenda. The BLS predicts that between 2014 and 2024, the number of lawyers in the U.S. workplace will grow by 6%, which is roughly on par with the national average in all jobs (7%).
Not all lawyers represent individual clients in court. Some work within the company and not for profit, some work for the government and some work in arbitration or mediation, among other things. Some lawyers own their own law firms, while others work in large multinational firms. Average Lawyer Salary
The average salary of a lawyer in the United States is $115,820.
Average Lawyer Salary, Becoming a lawyer is not a walk in the park. You have to do well enough at university and on LSAT to get into law school, graduate from law school, get a job and pass the state exam. By the end of that process, you may have accumulated a significant debt significant loan to students. Do lawyers’ salaries compensate for hard work and long hours of work? Here’s what you should know about an average lawyer’s salary.
Becoming a lawyer – Average Lawyer Salary
The American Bar Association reports that law students accumulate an average debt of $84,000 if they graduate from a public school and $122,158 if they graduate from a private school. Some of these graduates also have loans from their university education.
Average Lawyer Salary, For those starting in a large firm with 700 or more lawyers, the average starting salary is $160,000, according to a survey conducted by the National Association for Law Placement. These lucky lawyers may be able to repay student loans relatively quickly, especially if they work in a bonus company.
The average salary of a lawyer: Geography
All these factors can affect lawyers’ salaries. Geography can also affect lawyers’ salaries. Glassdoor, a payroll site, places the average national salary of lawyers at $106,148, but brings the average salary for New York lawyers back to $114,134. Glassdoor’s average for Kansas City, MO? $89,452.
According to BLS, the state that pays the most for lawyers is not a state – it’s the District of Columbia. There, the average annual salary for lawyers is $174,480. The other states that pay the highest level for lawyers are California, New York, Massachusetts and Delaware. Average Lawyer Salary
What about the metropolitan areas? The most paying metropolitan area for lawyers is San Jose-Sunnyvale-Santa Clara, CA, where lawyers earn an average annual salary of $204,010. Other areas of the metropolitan fee for lawyers are: Bridgeport-Stamford-Norwalk, CT; San Francisco-Redwood City-South San Francisco, CA; Los Angeles-Long Beach-Glendale, CA; and New York-Jersey City-White Plains, NY-NJ.
Average Lawyer Salary, The highest-cost metropolitan areas for lawyers are not necessarily the metropolitan areas with the highest concentration of lawyers. According to BLS, the metropolitan area with the highest concentration of lawyers is Washington-Arlington-Alexandria, DC-VA-MD-WV. Other areas of the metropolitan area with a high concentration of lawyers are: Philadelphia, PA; San Francisco-Redwood City-South San Francisco, CA; and New York-Jersey City-White Plains, NY-NJ.
Becoming a lawyer is an expensive and time-consuming undertaking, but it can lead to a financially and intellectually rewarding career. If you can succeed at law school and get good jobs and internships along the way, you’ll have a good shot at a high salary.
Of course, it is likely that after graduation you will be forced to pay off your debts. To figure out how to balance your debt payment with other financial goals, such as starting to save for retirement, consider consulting a financial advisor. A matching tool like SmartAsset SmartAdvisor can help you find a person to work with to meet your needs. Average Lawyer Salary