How Much Do Lawyers Get Paid?
How much an attorney or lawyer makes is a burning question people often love to ask. There are hundreds of forums and blogs on the internet where this topic gets discussed. Some people want to know their yearly salaries only because they are curious about how much a lawyer makes while others inquire about it because they want to join this field. How much a lawyer makes depends on many factors. However, it can be easily said that a lawyer makes a handsome yearly salary that is better than what most other professions yield for the people.
The Many Different Types Of Personal Injury Lawyers
There are many different types of personal injury lawyers. Personal injury is not a small field, and if you go deep in it, you will see more than dozen different types of lawyers that are considered personal injury lawyers. Surprisingly, some cases that personal injury lawyers handle involve deaths and casualties too. Here are some of the different types of lawyers that are all working on the one big umbrella term of personal injury:
- Auto accidents
- Wrongful death
- Motorcycle accidents
- Burn injuries
- Animal bite injuries
- Brain injuries
- Aviation accidents
- Amusement park accidents
- Insurance/bad faith
- Spinal cord injuries
- Construction accidents
- Swimming pool drowning accidents
- Nursing home abuse
- Slip and fall accidents
- Medical malpractice
- Pedestrian accidents
- Defective products
As you dig deeper you will find out many other types of accidents and injuries that can be handled by personal injury lawyers.
Factors Affecting Yearly Incomes Of Personal Injury Lawyers
Many websites will quote $62 to be the mean hourly wage for lawyers, but these statistics don’t always apply to all types of lawyers. It is understood though that a personal injury lawyer can easily make above $100,000 every year.
A Lawyer with lots of cases to resolve in a year can also cross the $200,000 mark annually. These are the statistics you will find on many websites, but the matter is not as easy as it sounds. Different lawyers make money in various scenarios and conditions. Some lawyers might not be making even half of $100,000 every year because of many reasons.
What domain a lawyer is working in is a significant factor when calculating the annual income of a lawyer. Another important factor that decides the annual income of a lawyer is how he takes the fees. Even though the per hour rates are not very common these days, some lawyers still prefer to go this way. One big reason for many lawyers for charging this way could be that they are not seeing the case ending on favorable terms.
Why many lawyers avoid, this type of fees plan is because it doesn’t give them a good return if they can win the case for the client. However, when a lawyer thinks that the case is weak, charging customers on per hour basis is considered wiser.
What type of employment a lawyer takes up is another deciding factor of his yearly income. It is hard to predict how much a self-employed lawyer would make at the end of the year since it totally depends on their personal efforts. The type of organization that employs the lawyer also decides how much he will make at the end of the year.
A lawyer serving the government will not make as much money as a lawyer working for a successful private firm. 26% of lawyers don’t work for any organizations and are rather self-employed because they want to earn big profits from their profession.
Location of the lawyer also plays a vital role in his yearly income. A lawyer located in a populated city will mostly be earning more than a lawyer working in a rural area. Lastly, how a lawyer markets himself has become the most crucial factor in a lawyer’s yearly income. Law websites are some of the most popular types of websites today.
As you can see, the types of lawyers and how much money they make depends on several factors. And this fully answers the question. Lawyers need to have themselves marketed properly and more efficiently on the internet today. A free consultation is the biggest tool of today’s lawyers to attract more clients towards them. Furthermore, lawyers can now make use of social networking platforms to market themselves and earn huge profits at the end of the year.