What is a typical salary for a corporate lawyer?
Lawyers are educated to handle a variety of legal issues. Most lawyers choose to specialize in a certain field of law prior to graduation. Some lawyers may choose to strictly handle corporate law. Corporate lawyers often work closely with major companies including Fortune 500 companies.
Salaries for lawyers vary considerably. Corporate lawyers typically make a great deal more than general practice lawyers or lawyers that work for the state or county.
Corporate lawyers have the ability to handle a wide range of duties for both large and small corporations. For example, a corporate lawyer that represents a company such as Fox Television may be required to make legal decisions that are in the best interest of their client.
Corporate lawyers may be required to file documents pertaining to lawsuits and motions on their clients behalf. Therefore, a corporate lawyer may have to decide weather it is in the best interest of their client to file a lawsuit or simply settle a case out of court.
A corporate lawyer must also be prepared to defend their client in certain situations. Therefore, if a corporation is being sued it is the job of the corporate lawyer to defend the client as well as deal with the legal aspects of the pending case.
The salary of a corporate lawyer can be quite substantial. Normally, when a case is settled the law firm receives a check or checks for a specific amount. Once the settlement checks are deposited and cleared the money is placed into a corporate bank account and eventually distributed throughout the firm.
Some cases can bring in huge profits. Some cases can be settled for a few hundred thousand or a few million dollars. The larger the settlement the more money the firm makes. Therefore, corporate lawyers can make between $300,000-$1,000,000.
In addition to handling lawsuits, corporate lawyers may handle corporate contracts as well as employee issues. Corporate contracts can involve legal issues that pertain to employee renewals, termination and resignation.
Besides receiving monies once cases are settled, corporate lawyers may receive regular monthly checks form various clients. Corporate lawyers may be contracted by certain corporations to receive monthly payment for any services rendered. Monthly checks received by clients/ corporations can vary considerably.
Regular payments sent to lawyers by clients are normally received monthly and can average between $5,000-$100,000 per month. Monies earned by a corporate lawyer also depends heavily on client base.
Finally, an established corporate attorney can earn a great deal of money. The volume and type of clients that a corporate lawyer works with largely determines the amount of money they earn. Therefore, on a yearly basis the salary of a corporate lawyer can be a minimum of a few hundred thousand dollars. A few hundred thousand dollars can quickly jump to a million or more dollars each year.
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As a corporate lawyer continues to build a larger client base of course the amount of money they earn will naturally increase. In addition, the longer a corporate lawyer is in practice their bank account will continue to grow also.