Lawyer profession is one of the longest and most renowned professions dating from the early years of mankind. Consequently, it has also been known to mankind as being one of the most high-class and well-paid professions, and to date that hasn’t changed. Because people working in the legal profession tend to make a fortune, practicing law remains one of the most wanted jobs on the market. To this date not much has changed, only the ongoing fact that the legal profession is evolving. Nowadays, there are different types of lawyers, and they all have different payrolls. As the lawyer’s salary may be affected by numerous factors, here are the highest-grossing law and legal practitioners that make the most money. Read on.
Patent lawyers
The highest-grossing lawyers on the list ought to be patent lawyers who specialize in helping various clients protect their vital assets and intellectual property. Patent attorneys remain the highest-paid legal practitioners as their job entails giving tangible legal advice to clients about patents so they to obtain granted permits by the patent offices around the world. Due to the severity and uniqueness of the application and job processes, and the fact that they need to watch out for their clients to stay in compliance with IRS regulations and that taxes are paid eloquently, a lawyer’s job is no plain sailing. The yearly salary of a patent always can reach a staggering $160,000 a year.
Corporate and contract solicitors
In cosmopolitan Australia alone, there are around ten thousand lucrative and cutting-edge small companies to large multinational companies thriving around the country. Not to mention many new ones being opened weekly. Hence, corporations tend to seek professional lawyer’s assistance and have an expert solicitor by their side to manage and run all complex regulations and govern their operations. NSW in Australia is booming with new corporations, and whether you want to employ or hire a solicitor in Tamworth, for instance, you would get well-paid for the job. Lawyers in corporate and contract law provide legal advice, undertake various due diligence, help draft contracts, engage in negotiation processes, and assist companies with contracts, deeds, agreements, and others. Corporate lawyers tend to make over $200,00) or more.
Tax lawyers
Tax lawyers help various people and corporations navigate through the complexities of the tax system and other governmental regulations. Complying with an abundance of IRS regulations can be a daunting job, hence, lawyers do get sufficiently paid for the demanding jobs they do. Tax lawyers need to help their clients comply with all IRS regulations, and above all assist them with filing all the taxes adequately. For that matter, tax lawyers tend to earn over $150,000 a year due to the amount and responsibility they have, but also due to the severity of not complying with the tax system.
Employment lawyers
Even though employment lawyers conduct businesses similar to corporate solicitors, the pivotal thing that differentiates the two lawyers is the focus on employment law. Employment lawyers mainly represent employees’ or employee’s rights in court, deal with complaints, and ensure that the companies and institutions follow all the necessary regulations connected to federal and state employment laws. If some employee, for instance, has been a victim of mobbing, or some other discriminatory employment practices, the assistance of the employment lawyers is of utmost importance. The range of salary for employment lawyers is somewhere between $90,000 to $130,000 a year.
Intellectual property lawyers
Being an intellectual property lawyer is another high-grossing job since the responsibilities and obligations related to IP are always in demand. Intellectual property lawyers conduct a plethora of legal matters for their clients, but the focus is on managing the rights to a unique invention that an individual has designed whether working for a certain company or independently or helping protect the copyright on a manuscript, musical composition, trademark or some other lucrative and innovative ideas. At the same time, IP lawyers defend their clients in court if some dispute arrives. The average annual salary is around $140,000.
Personal trial lawyer
In the end, what we would consider a “regular” lawyer is considered a trial or a personal injury lawyer who helps clients get compensation in civil litigation and accident trials. The cases would range, however the aim for personal trial lawyers is to assist their clients by retrieving and recovering compensation if they were hurt in an accident, suffered some form of injury at work, and defend their right to court and seek the most eligible settlement possible. Unlike the above-mentioned types of layers, personal trial lawyers tend to take fees from a percentage of the final settlement they end up recovering from the clients which can range from $90,000 to $140,000.
To sum up, a lawyer’s salary will mainly depend on whether they have chosen to work for the private or public sector. Some of the highest-paid positions tend to be in the private sector, so aim to boost up your expertise if you are interested in becoming a lawyer.