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Forum locked This topic is locked, you cannot edit posts or make further replies.  [ 42 posts ]  Go to page 1, 2  Next
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 Post subject: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:19 pm 

Joined: Sun Dec 13, 2009 8:49 pm
Archived Posts: 47
I'm sure everyone's answer will be different. If you get into a biglaw firm, you might start out making 160k per year and then over a million per when you make partner. However, the three lawyers that I know whom make the most money are all product liability/personal injury lawyers. One just made 2.3 million this month on a personal injury case that was settled and another just made 12 million on a product liability/injury case that was settled last year.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:21 pm 

Joined: Fri Jul 31, 2009 3:36 pm
Archived Posts: 432
It has little to do with what area you practice in. What matters is that you're the best in that area.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:23 pm 

Joined: Sat Oct 25, 2008 5:51 pm
Archived Posts: 4959
reese23 wrote:
I'm sure everyone's answer will be different. If you get into a biglaw firm, you might start out making 160k per year and then over a million per when you make partner. However, the three lawyers that I know whom make the most money are all product liability/personal injury lawyers. One just made 2.3 million this month on a personal injury case that was settled and another just made 12 million on a product liability/injury case that was settled last year.

Did that money go to them or the firm?


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:24 pm 

Joined: Wed Dec 09, 2009 5:59 pm
Archived Posts: 18
I think public defenders


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:28 pm 

Joined: Thu Dec 04, 2008 9:27 pm
Archived Posts: 2518
The kind that start their own businesses.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:35 pm 

Joined: Sun Jul 26, 2009 2:59 pm
Archived Posts: 113
Intellectual property, but not everyone is qualified to sit for the patent bar (you need a technical background).


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:57 pm 

Joined: Tue Jun 09, 2009 12:47 pm
Archived Posts: 127
UFMatt wrote:
Intellectual property.


Can you back that up? When talking the MOST money, I just don't think that can be...


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:58 pm 

Joined: Tue Oct 14, 2008 8:33 pm
Archived Posts: 3916
UFMatt wrote:
Intellectual property


This is 100% false.


Last edited by CE2JD on Mon Dec 28, 2009 11:58 pm, edited 1 time in total.

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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:58 pm 

Joined: Sat Sep 26, 2009 3:27 pm
Archived Posts: 1509
[img]http://blacksportsonline.com/index/OBIT-JOHNNIE-COCHRAN.jpg[/img]

Also, IP claim was false.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Mon Dec 28, 2009 11:59 pm 

Joined: Wed Jul 09, 2008 12:37 am
Archived Posts: 1217
Personal Injury.

Well, they can.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:00 am 

Joined: Tue Oct 14, 2008 8:33 pm
Archived Posts: 3916
Actually, if you're talking about biglaw jobs, transactional IP lawyers probably make the LEAST.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:00 am 

Joined: Wed Nov 04, 2009 5:17 pm
Archived Posts: 689
CE2JD wrote:
UFMatt wrote:
Intellectual property


This is 100% false.


I think he was talking more about the patents than the full scope of intellectual property. Patents do make a considerable amount of money due to the high demand.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:01 am 

Joined: Tue Oct 14, 2008 8:33 pm
Archived Posts: 3916
JessicaTiger wrote:
CE2JD wrote:
UFMatt wrote:
Intellectual property


This is 100% false.


I think he was talking more about the patents than the full scope of intellectual property. Patents do make a considerable amount of money due to the high demand.


No. Patent litigation CAN be very lucrative. Transactional IP billing rates have gone down significantly over the past 10 years.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:04 am 

Joined: Wed Jul 22, 2009 5:42 pm
Archived Posts: 670
CE2JD wrote:
JessicaTiger wrote:
CE2JD wrote:
UFMatt wrote:
Intellectual property


This is 100% false.


I think he was talking more about the patents than the full scope of intellectual property. Patents do make a considerable amount of money due to the high demand.


No. Patent litigation CAN be very lucrative. Transactional IP billing hours have gone down significantly over the past 10 years.

This is credited.

Patent prosecution is becoming less about billable hours and more about flat rate so hours are going down.

IP lit is just like anything else in Biglaw it depends on the firm, your class year, and your billable hours/ability to bring in clients.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:07 am 

Joined: Tue Jun 09, 2009 3:51 pm
Archived Posts: 1122
very good ones


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:11 am 

Joined: Wed Oct 07, 2009 12:17 am
Archived Posts: 305
Sell outs who are good at what they do.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:16 am 

Joined: Sun Dec 13, 2009 8:49 pm
Archived Posts: 47
IP lawyers make great money starting out - around 180k b/c there currently is a shortage of IP lawyers.

The lawyers I mentioned both had their own practice. Basically both hung their own shingle after law school - like most personal injury or product liability attorneys do. Doesn't really matter what law school you attend, how you do in law school, etc. You just need to be good and get a few big cases.

The guy who made 2.3 million was 43 years old and this was his first HUGE payday case. Old lady was hit by a City bus and he settled fast for 7 million, receiving approx 30% to himself.

The one who made 11.7 million (large 40 mill settlement) on one case sued Mattel (toy maker) - kids ingesting magnets from dolls.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:16 am 

Joined: Sun Jul 26, 2009 2:59 pm
Archived Posts: 113
shadowfrost000 wrote:
[img]http://blacksportsonline.com/index/OBIT-JOHNNIE-COCHRAN.jpg[/img]

Also, IP claim was false.


I hope that doesn't make me Mark Fuhrman. :D

I'll agree that IP isn't the MOST lucrative, but I'd wager it is ONE of the most lucrative. I'm sure corporate lawyers and the like also are very well paid too. I had just wanted to throw it out there considering you'll find mixed numbers if you try to find stats on the OP's question.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:23 am 

Joined: Fri Aug 07, 2009 8:24 am
Archived Posts: 125
[img]http://cache.jalopnik.com/cars/assets/resources/2007/08/John-Edwards-President.jpg[/img]


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:23 am 

Joined: Tue Oct 14, 2008 8:33 pm
Archived Posts: 3916
People who still think there's a "shortage" of transaction IP lawyers (patent prosecutors included) are misinformed. Every patent prosecutor I've spoken with has noted the significant influx of newly minted patent prosecutors into the market as having an effect on demand, driving down what patent attorneys can charge for getting people patents. Also, off-shoring is having an impact on the bottom line of patent prosecutors. Also, R&D budgets are non-existent in this economy which = NO NEW PATENTS.

Patent litigation might be a different story...


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:25 am 

Joined: Wed Jul 09, 2008 12:37 am
Archived Posts: 1217
reese23 wrote:
IP lawyers make great money starting out - around 180k b/c there currently is a shortage of IP lawyers.

The lawyers I mentioned both had their own practice. Basically both hung their own shingle after law school - like most personal injury or product liability attorneys do. Doesn't really matter what law school you attend, how you do in law school, etc. You just need to be good and get a few big cases.

The guy who made 2.3 million was 43 years old and this was his first HUGE payday case. Old lady was hit by a City bus and he settled fast for 7 million, receiving approx 30% to himself.

The one who made 11.7 million (large 40 mill settlement) on one case sued Mattel (toy maker) - kids ingesting magnets from dolls.

That's the thing with PI. Luck is a huge part of it. For every multimillionaire there are hundreds of lawyers pulling 40k per year settling dog bite cases. Of course even for them, it only takes one client coming in your door to make you rich. Most won't ever get that client though.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:26 am 

Joined: Thu Feb 19, 2009 1:33 am
Archived Posts: 1060
the ones that work at wachtell


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:32 am 

Joined: Sun Sep 13, 2009 2:34 am
Archived Posts: 520
The worst kind.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:37 am 

Joined: Sun Dec 13, 2009 8:49 pm
Archived Posts: 47
i agree, the PI lawyers can make HUUUUUUGE money, but it is a huge gamble at the same time. you often times work for yourself and always on strict contingency basis.


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 Post subject: Re: What kind of lawyers make the most money?
PostPosted: Tue Dec 29, 2009 12:41 am 

Joined: Mon Sep 07, 2009 2:24 am
Archived Posts: 1366
Consigliere.


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