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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Becoming a lawyer requires a lot of hard work and dedication. Most aspiring lawyers need to complete at least three years of law school in order to earn a law degree, and that degree can be expensive. However, the average lawyer salary is nearly $150,000, so your could be worth it. How much do lawyers make
The decision to become an attorney does pay off for many professionals who choose this career. The average lawyer salary in the United States is $148,910 at last count, according to the . Of course, as in most professions, your earnings as an attorney will likely begin on the lower side and increase over time. The BLS reports that the average lawyer salary ranges from $61,490 to more than $208,000. The presumption is that lower salaries go to those just starting out, and attorneys who earn at the higher end of the scale are years or even decades into their careers. However, that number can be much higher depending on your location and the size of the law firm; the , for instance, reports a median starting salary of $165,000. What are the best-paying industries for lawyers
The amount of money an individual attorney actually makes has a lot to do with the type of law they practice. Beyond the type of industry they choose to practice law in, whether an attorney works in the private or public arena (think government versus corporations and private law firms) can also impact earnings in a significant way. According to the BLS, lawyers who work within the Federal Executive Branch of the government earn an average annual salary of $146,560. On the other hand, lawyers who work for state governments bring in an average salary of $97,440. Meanwhile, some of the top-paying industries for lawyers include: Specialized Design Services: $233,400. Computer and Peripheral Equipment Manufacturing: $221,000. Motion Picture and Video: $218,360. Cable and Subscription Programming: $216,860. Navigational, Measuring, Electromedical and Control Instruments Manufacturing: $208,460. What are the highest-paying states for lawyers
The state you live in can also play a significant role in your salary as a lawyer, and specific metropolitan areas also boast much higher wages. States with the highest annual mean wages for lawyers include: State Average lawyer salary Washington, D.C. $197,100 California $179,470 New York $174,060 Massachusetts $169,120 Connecticut $158,190 If you’re planning to live in a big city or a major metropolitan area, you should also know which regions have the highest annual salaries nationwide. The highest-paid metropolitan areas currently include the following: Metropolitan area Average lawyer salary San Jose-Sunnyvale-Santa Clara, CA $231,610 San Francisco-Oakland-Hayward, CA $201,920 Washington-Arlington-Alexandria, DC-VA-MD-WV $186,070 Los Angeles-Long Beach-Anaheim, CA $180,220 New York-Newark-Jersey City, NY-NJ-PA $180,160 Boston-Cambridge-Nashua, MA-NH $175,570 Santa Rosa, CA $174,810 Bridgeport-Stamford-Norwalk, CT $172,490 Napa, CA $170,850 Miami-Fort Lauderdale-West Palm Beach, FL $169,480 Also note the states where your salary as a lawyer could be lower. The annual mean wage for lawyers in following states fell below $100,000: Montana: $93,220. Mississippi: $93,380. Arkansas: $94,800. Maine: $98,980. What other careers can law students pursue
After you graduate with a law degree, there’s a possibility you could end up working in another related field. According to , some of the top related careers for those with a law degree fall within the fields of corrections, law enforcement and politics. If you have some flexibility in your desired career field, BLS lists average salaries as the following: Job Average salary Arbitrators, Mediators and Conciliators $76,440 Bailiffs $51,730 Judges, Magistrate Judges and Magistrates $131,850 Law Teachers, Postsecondary $134,760 Legal Support Workers $73,320 Paralegals and Legal Assistants $56,610 Political Scientists $124,100 Is a law degree worth it
Law school can potentially be a stepping stone toward a successful and lucrative career in the legal field. But you’ll need to consider whether the average lawyer salary is worth everything you’ll have to give up along the way. Before applying to law school – and especially before you enroll – you should take the time to ask yourself some , like: What is the cost of tuition? The average annual law school tuition is around $28,186 for in-state students at public universities, according to most recent figures from . Graduate students attending private law schools face a much higher price tag of $49,312. Do you plan to attend a top school? If you plan to earn your law degree at an Ivy League institution, you’ll need to weigh the cost of attendance. For example, tuition at Columbia University worked out to $77,352 for the 2021-22 school year, while attending law school at Harvard would set you back $67,720. Does the law school you’re considering have a solid reputation? Degrees from lower-tier schools may not open the door to the higher-paying opportunities you hope to land post-graduation. Do I have the time and dedication to succeed? The last thing you want to do is start law school, incur student debt and decide to drop out before earning your degree. You should also consider whether you can commit the time and energy necessary to earn good grades. After all, your GPA might impact your job opportunities after graduation — especially in highly competitive positions. Which legal specialty should I study? Beyond picking the right law school, it may pay off to focus your legal studies on a field that’s in high demand. Managing law school debt
Because of the high cost of law school, many students need to find a source of financing to cover tuition, fees and other educational expenses. One of the most popular ways to do this is through . A study by the found that respondents had an average debt load of $108,000 in law school loans and $130,000 in all loans combined at graduation. This amount of debt could be hard to manage in the early stages of your career. If you’re struggling with payments, you do have options. Some ways to manage your debt include: Income-based repayment: Depending on the types of loans you used to finance your education, you may be eligible for a , which could lower your monthly payments to a more manageable level. Public Service Loan Forgiveness: If you are willing to work in an eligible public service position, you could have your federal student loans forgiven after 10 years of on-time payments through a program known as . Refinancing: could potentially help you find a lower interest rate or a smaller monthly payment. Employer assistance: Employers can contribute up to $5,250 per year on a tax-free basis toward student loans or college tuition through 2025. This benefit can be given tax-free on behalf of the employer, but it’s also tax-free for the employee. Next steps
Weighing the benefits and drawbacks of any career decision upfront is important, and that’s true no matter which occupation you decide to pursue. Becoming an attorney has proven to be a smart career choice for many people. Still, you should take your time and make sure that law school is the right move for you before committing to such a big investment of your time and money. Are you ready to move forward? Federal and private law school loans may be available to help you cover your education expenses, depending on your situation. Shop around and compare to find one that works best for you. Learn more
SHARE: Michelle Lambright Black is a credit expert with over 19 years of experience, a freelance writer and a certified credit expert witness. In addition to writing for Bankrate, Michelle's work is featured with numerous publications including FICO, Experian, Forbes, U.S. News & World Report and Reader’s Digest, among others. Chelsea has been with Bankrate since early 2020. She is invested in helping students navigate the high costs of college and breaking down the complexities of student loans. Related Articles