Have you read too many John Grisham episodes? Have you binge-watched all season of “Law and Order”? Have you solved every Agatha Christie mystery before hitting the halfway mark? If so, then you might be interested in a career in the legal profession. We can’t blame you. Pop culture has made it seem way too exciting, but the reality is quite different: It is so slow, tedious, and complex. But it remains a rewarding career choice, even if you’re not the attorney general. Interested?
Here are the ten highest paid types of lawyers and legal careers:
1. Intellectual Property Lawyers (Average Salary: $155,000)
Intellectual property lawyers are the highest paid types of lawyers. In today’s global economy, intellectual property is under threat. From patents to trademarks to industrial designs, major corporations fear that their IP is under siege from foreign players. As a result, intellectual property attorneys, and everything in that ballpark are in immense demand. This is why their median salaries are so high.
2. Real Estate Lawyers (Average Salary: $118,000)
Real estate lawyers are the second highest paid types of lawyers. A lot is at stake when it comes to real estate. The average family could be pouring their entire life savings into buying a home, or an investment firm is putting millions of dollars into a commercial property. Whatever the case might be, lawyers that specialize in real estate are required to comb through contracts, ensure everything is on the level, and make certain that the transaction is legal.
3. Bankruptcy Lawyers (Average Salary: $113,000)
Bankruptcy claims for consumers and businesses are increasing in Canada. With debt topping $1 trillion and interest rates gradually normalizing, it is widely anticipated that insolvency filings are only going to surge in the coming years. Already, for example, Ontario business bankruptcies are up 39 percent from the previous year. Is it any wonder why then bankruptcy attorneys are in demand? There are just too many bankruptcies for the market to keep up.
4. Tax Lawyers (Average Salary: $100,000)
As Jonathan Winters said in “It’s a Mad, Mad, Mad World”: “Taxes. Everybody’s gotta pay taxes.”
Well, that’s true, but it can sometimes be too complicated for startups, small businesses, and even large corporations to keep up with legislative changes, accounting updates, and so much more. Tax lawyers are crucial if you fall behind in your taxes, or you get into trouble with the tax man, you have somebody with legal expertise to back you up. Tax lawyers are among the highest paid types of lawyers for their expertise and the high demand for them.
5. Corporate Lawyers (Average Salary: $100,000)
Corporations are everybody’s favourite target, especially for governments that are starved for revenues. Since the state is always seeking dragons to slay, they will home in on corporations, which then rely on the acumen of corporate lawyers to defend them. Although most of these corporate giants have chief legal officers, they still need a steady supply of corporate attorneys to navigate the system.
If the role of the attorney is too stressful or just not worth the added pressure, there are plenty of alternative legal professions that can offer competitive compensation. You might get paid less than a lawyer, but what’s a few thousand dollars if it means you don’t have to experience burnout, deteriorating mental health, or a diminished work-life balance?
6. Litigation Support Directors (Average Salary: $80,000)
Also known as a litigation support manager, this is someone who oversees support given the firm’s litigation initiatives on the technical side. So, this professional will design, institute, and maintain a litigation database, as well as offer training to end users.
7. Jury Consultants (Average Salary: $85,000)
Have you ever seen or read “Runaway Jury”? Well, a jury consultant is like that, except a little bit less intense. But it is still a precise and serious occupation. Jury consulting will utilize psychologists, communication experts, economists, trial consultants, and other critical professionals who can improve arguments, choose juries, and prepare witnesses.s
8. Legal Recruiters (Average Salary: $82,000)
A legal recruiter is no different from other recruiters. Your job is to find the best and brightest in the legal profession for law firms that need the talent to fill their positions. It’s an important role, and it is always a great choice for many people who eventually realized that being a lawyer wasn’t for them.
9. Legal Librarian (Average Salary: $52,000)
Yes, librarians are on the way out. But legal librarians are still integral for law students, judges, and seasoned veterans who rely on the law library. Law librarians essentially provide legal information to those who need it for their studies, cases, and scholarly research. Legal librarians are among the high paying jobs with little stress, if you are that way inclined.
10. Law Firm Administrators (Average Salary: $50,000)
A legal administrator is like any other administrative professional in an office. A law firm administrator will manage all aspects of the daily ins and outs of the legal department of law practice. This could consist of managing budgets, overseeing payroll operations, taking care of office space arrangements, or hiring employees.
The legal industry will always demand talent. It isn’t just lawyers that are required. There are many positions to take advantage of if you don’t have the stomach to be a trial lawyer or a tax attorney. And they’re well paid, too!