Highest-Paid Types of Lawyers
While many factors play a part in determining a lawyer’s compensation, certain kinds of lawyers tend to make more than others. Some of the highest-paid lawyers include:
- Patent attorney: $180,000
- Intellectual property (IP) attorney: $162,000
- Trial lawyer: $134,000
- Tax attorney: $122,000
- Corporate lawyer: $115,000
Intellectual Property (IP) Lawyer
One of the reasons IP lawyers are some of the highest-paid types of lawyers is the fact that they require very specialized knowledge in distinct fields.
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An attorney defending and making arguments for intellectual property needs to be well-versed in the domain it pertains to. This can include creative fields like music and entertainment and other areas such as science and technology.
Being familiar with and up to date on the current state of the industry you’re working in means any new developments will need to be researched and studied extensively. An IP lawyer is constantly expanding their body of knowledge to formulate the best and most current arguments to ensure no plagiarism or intellectual theft occurs.
Tax Attorneys
Tax codes are complex. That’s why companies and individuals are willing to pay so much for credible tax attorneys. Tax laws aren’t written in stone and are being updated all the time. As a result, tax attorneys need to make sure they’re always familiar with any changes to evolving tax policies.
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Although the profession may sound boring to some, keep in mind many tax attorneys spend a good deal of time in the courtroom. In this case, companies or individuals facing taxation issues rely on their tax attorneys. They’re able to provide comprehensive and robust legal representation while defending themselves.
If you have any background in business, then becoming a tax attorney can feel like a natural career progression. It’s not uncommon at all for tax attorneys to be well-versed in fundamental accounting practices. All things considered, a career as a tax attorney is a reliable pathway to becoming a top-paid lawyer.
Trial Attorney
Although there is a bit of variation when it comes to trial attorney salaries, handling courtroom processes can give you a leg up in your law career. The role of a trial attorney is as much about charisma as it is about facts and knowledge. Working in a live environment means you’ll need to be quick-thinking and adaptable.
In terms of legal background, trial attorneys should be familiar with many aspects of law and be able to apply it to the cases they’re working on.
Cases in courtrooms are subject to change-new information is presented, and old information is revised all the time. A reason why trial attorneys are some of the highest-paid lawyers is a result of their persuasive social skills.
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If the stereotypical image of a lawyer giving compelling arguments to judges and juries is appealing to you, then becoming a trial attorney may be a lucrative career option. Having the ability to connect with and convince people of differing points of view is a skill that can carry you through a prosperous law career.
Medical Lawyer
While the term medical lawyer immediately conjures up images of malpractice lawsuits, this isn’t the entire scope of the profession. Medical lawyers can work in a variety of settings to better the healthcare and well-being of all individuals in society.
Some alternative areas of work include public health and pharmaceutical drug companies. In these positions, lawyers advise health bodies on overseeing infectious diseases and community-transmitted pathogens. With pharmaceutical drugs, they can provide insight into how the drugs are regulated.
Patent Attorney
Patent attorneys play a crucial role in the legal landscape. Crafting inventions and conducting research for the greater benefit of society is not without its difficulties. When a successful patent is filed, intellectual property owners can be assured they’ll have a set amount of time where copycat products aren’t allowed as competitors in the marketplace.
Patent law is actually a subcategory of intellectual property. A famous example is the personal computer patent, which Steve Jobs and colleagues filed in 1980. The right patent attorney can ensure that inventors can capitalize on their work and create incentives for originality and innovation.
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