Specifically, what type of lawyer earns $143/hr or $275K/yr

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jeremybates
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Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby jeremybates » Mon Nov 30, 2009 9:43 pm

Specifically, what type of lawyer earns $143/hr or $275K/yr plus? I've been told by patent agents that patent lawyers make this much but what kind? Do I have to get into a top law school or top law firm to earn that much? Patent litigation perhaps?

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nealric
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby nealric » Mon Nov 30, 2009 10:11 pm

There aren't too many who earn so much while working so little. There are lawyers who make $143/hr and there are lawyers who make $275k a year. Few manage to do both. That's a 38.5 hr workweek working 50 wks/yr.

But to answer your question.

Straight out of law school:

You pretty much have to work at Wachtell to make close to that that. 160k + 100k bonus. That's for around 3200 hrs worked or about $80/hr.
You can BILL yourself out at $143 an hour as a solo, but most of that will go to overhead.

Down the line...

275k is normal for a senior biglaw associate (almost a partner) or perhaps a junior non-equity partner. They will work much more than 38.5 hrs a week, so won't be close to $143/hr.
Biglaw equity partners (usually 10+ yrs out): Make $1M/yr on up, and certainly make at least $143 an hour.
Solos/Small firm practitioners. Can make anything. A lot of them are on contingency, so hourly rate doesn't really apply.

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It's a trap!
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby It's a trap! » Mon Nov 30, 2009 10:15 pm

jeremybates wrote:Specifically, what type of lawyer earns $143/hr or $275K/yr plus? I've been told by patent agents that patent lawyers make this much but what kind? Do I have to get into a top law school or top law firm to earn that much? Patent litigation perhaps?


Oye vey.

jeremybates
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby jeremybates » Tue Dec 01, 2009 10:47 pm

If you're going to write oye vey, comment on another post.

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MeTalkPrettyOneDay
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby MeTalkPrettyOneDay » Tue Dec 01, 2009 11:15 pm

jeremybates wrote:Specifically, what type of lawyer earns $143/hr or $275K/yr plus? I've been told by patent agents that patent lawyers make this much but what kind? Do I have to get into a top law school or top law firm to earn that much? Patent litigation perhaps?
:lol: at the math. Were you really calculating per hour wages by assuming a 35 hour workweek and one month vacation? If you find a market-rate law job like that, let me know - cause I want in!

In terms of answering the actual substance of your question, neal did a good job.

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kurama20
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby kurama20 » Tue Dec 01, 2009 11:24 pm

Anyone know what the salary usually is for people who are "of counsel"?

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danquayle
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby danquayle » Tue Dec 01, 2009 11:28 pm

jeremybates wrote:If you're going to write oye vey, comment on another post.


Oh, just as long as you have an engineering background, you can get that kind of job at pretty much any school... I suggest the Franklin Pierce Law School, its ranked 6th in US News for IP...

AmicusCuriae
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby AmicusCuriae » Tue Dec 01, 2009 11:40 pm

kurama20 wrote:Anyone know what the salary usually is for people who are "of counsel"?


Somewhat higher than an 8th year associate, so somewhere in the low to mid $300s at most big firms. Bonus structure for Of Counsel is unclear, as all firms note "Case by case" in their bonus memorandum. Raises aren't lockstep like they are for associates either.

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nealric
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Re: Specifically, what type of lawyer earns $143/hr or $275K/yr

Postby nealric » Wed Dec 02, 2009 11:31 am

Anyone know what the salary usually is for people who are "of counsel"?


Of counsel can mean so many things that's it's hard to really say.

Some of counsel's are law profs who step in and consult every once and a while.
Some are just people who are not partner material, but are too senior to be associates.
Some are semi-retired.

Pay could be probably anything from 50k/yr (For part time consulting) to $500k.




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