Making Money After Law School
Lawyers aren’t banking like they used to. These days it’s difficult to find a job if you didn’t come out of one of the top law schools in the nation. Luckily, there are ways to pay off your law school debt when you follow the right advice. The unemployment rate of lawyers is around 12%. You can beat the statistics. It’s time to put that law degree to work. Here are some ways you can manage that.
Try In-House Counsel
Young lawyers are often attracted to the corporate setting. Unlike working for a law firm, you are not on call 24/7. A corporation will have you on a 9 to 5 schedule. You may also be equipped with a paralegal to take some of the work load off. A lawyer who wants to work for a corporation needs to understand risk evaluation, how to advise senior management, and business strategy.
Law Firm Administration
Not every young lawyer gets excited about jumping into the court room. Luckily there are many behind the scenes jobs at law firms. You may be interested in running the business side of things. Mastering LEGAL BILLING SOFTWARE is not just for paralegals anymore. LEGAL BILLING SOFTWARE helps firms keep track of their expenses, billings and provides clients with an easy way to pay online.
Those who wish to go into law firm administration will not just be working with LEGAL BILLING SOFTWARE and other computer programs. Many also deal with training and recruiting, coordination of pro bono work, and development. LAW FIRM BILLING SOFTWARE is just a small fraction of what a law firm administration lawyer has to master. However LAW FIRM BILLING SOFTWARE is very important. It helps you, and the other lawyers on your team, get paid.
Working for the Government
If you’re looking for a high starting salary, working for uncle Sam isn’t going to bring in that much needed currency. However, a lot of lawyers are opting for government jobs because it is a way to get their student loans forgiven. If you are having trouble finding work in the private sector, having a government job on your resume may help you break into that top law firm after a while.
When working for uncle Sam it is likely that you’ll be doing real estate transactions, government contracts and litigation on behalf of the agency you are working for. Basically, you are there to protect the agencies best interest.
Working for a Non-Profit
Some lawyers went to law school so that they could help people. Working for a non-profit gives them the opportunity to do so. It’s also easier to cut your teeth at a non-profit vs. a law firm. Some non-profit organizations have loan replacement programs just like the government does. So even though you’ll be making less money, you’ll be on your way to being debt free.
Not everyone who works for an accounting firm is an accountant. Accountants also need lawyers to make sure that everything they’re doing is kosher. Which is why studying and specializing in accounting might be a good idea. Here are a few things you will need to learn.
- How to protect your firm
- A firm understanding of accounting principles
- The basics of what an accountant does
Don’t Expect to Make a Million Right Out of Law School
Law school is worth it. People put down law school because new graduates aren’t getting those high paying firm jobs. Those come later. Be patient and work with what is given to you. Good things will come to those who pursue the field.