The primary role of company lawyers is to ensure the legality of company transactions. They advise a company on a variety of issues, including collecting and analyzing evidence for legal proceedings, formulating contracts, advising companies on legal rights and obligations in commercial transactions, and advising them on taxation issues.
Such broad business requirements mean that corporate lawyers must specialize in many aspects of the law. Major expertise in corporate law includes tax law, contract law, accounting law and securities law. Therefore, the main focus of many corporate lawyers is to understand how these different aspects of law relate to companies that employ them.
Salary starts for corporate lawyer salary
In most cases, the salary of a corporate lawyer will start from $ 30,000 to $ 100,000 per year, depending on the size, position and financial situation of the employer. The best graduates of the best law schools can expect much higher salaries and lucrative careers right after graduation if they have the right skills set and perform well during their internship.
The Forbes website lists a number of top-notch programs, including Columbia Law School, where graduates can expect an average salary of $ 165,000.
Other top producing institutions include Stanford University, Chicago University, Harvard University, and the University of Virginia. However, most graduates of US law schools will have to settle for a more modest salary check, even if they engage in a relatively profitable field of corporate law.
Average salary for corporate lawyer
According to PayScale, the average annual salary of a corporate lawyer in 2014 was $ 98,823. Company lawyers are paid for their knowledge and experience, both of which have a strong impact on salary. Lawyers who find their niches in company law and remain in the same company can expect to see their salary increase each year.
As a general rule, in-house business lawyers are paid less than lawyers used by large law firms that charge exorbitant fees. This is a bit of a generalization, and although it is true that the highest-earning individuals in the legal field tend to be partners in large law firms, in-house lawyers are often no worse than their financial rights.