For those looking to embark on a career as a lawyer, understanding the earning potential of various practice areas is key to making the best choice. As of 2019, some of the most highly-paid lawyers include those specializing in securities and corporate finance, intellectual property, and tax law.

Securities and Corporate Finance:

Lawyers who specialize in securities and corporate finance tend to earn some of the highest salaries in the industry. Salaries for these attorneys can range from $145,000 to over $350,000 a year, depending on the size of the firm and the demand for their services. Attorneys specializing in securities and corporate finance advise their clients on various aspects of the capital markets, such as public offerings, private placements, mergers and acquisitions, and shareholder rights.

Intellectual Property:

Intellectual property law is a particularly lucrative field of law that continues to grow. These attorneys work with national and international corporations and private clients to help protect their intellectual property. This includes trademarks, copyrights, patents, and trade secrets. Salaries for intellectual property lawyers vary widely, ranging from $90,000 to $350,000 a year.

Tax Law:

Tax attorneys are in high demand among corporate clients, and they can command some of the highest salaries among lawyers. Salaries for tax lawyers can range from $120,000 to $400,000 annually, depending on the size and location of the firm. These attorneys specialize in the complex laws surrounding taxation, and provide legal advice to their clients on the filing of their tax returns, estate planning, and more.

Labor and Employment Law:

Lawyers specializing in labor and employment law help their clients with matters concerning the rights of employees. This includes resolving labor disputes, filing claims for wrongful termination, and offering advice on the implementation of HR policies. Salaries for labor and employment lawyers tend to range from $140,000 to $230,000 a year, depending on the size and type of firm.

Contract Law:

Contract law is a complex area of law that deals with the formation of contracts, the duties of parties under a contract, and the performance of those duties. Contract lawyers are responsible for drafting, negotiating, and enforcing contracts, and they are highly sought after by corporate clients. Salaries for contract attorneys can range from $145,000 to $250,000 a year.

Real Estate Law:

Real estate lawyers are highly sought after by both individual and corporate clients. They assist their clients with matters such as residential and commercial real estate transactions, property leases, and disputes, among others. Salaries for real estate lawyers range from $125,000 to $250,000 a year.

Litigation:

Litigation is a field of law that deals with resolving disputes through court hearings. These attorneys represent their clients in civil and criminal matters and handle various types of litigation such as personal injury, class action, breach of contract, and medical malpractice cases, among others. Litigation lawyers are some of the highest paid lawyers, with salaries ranging from $170,000 to $350,000 annually.

In conclusion, understanding the various types of law and the salaries associated with each can help those considering law school make the best decision for their future. Those who specialize in securities and corporate finance, intellectual property, tax law, labor and employment, contract, or real estate law can expect higher salaries than most other law practice areas. Meanwhile, litigators tend to earn some of the highest salaries of all, making these particular legal practices even more lucrative.