Almost one-quarter (24.2%) of the reported $215,000 salaries came from the three largest California markets — Los Angeles/Orange County, San Francisco, and Silicon Valley, and about 14% came from the three largest markets in Texas — Dallas, Houston and Austin.
Best-Paying States for Lawyers
The states and districts that pay Lawyers the highest mean salary are District of Columbia ($238,990), California ($213,860), Delaware ($212,360), New York ($208,480), and Connecticut ($195,730). How Much Do Lawyers Make in Your City? See current salary offers for jobs in your field.
The reality is that most lawyers earn significantly less than half a million dollars each year. According to the United States Bureau of Labor Statistics, the median annual pay for lawyers in 2022 was $135,740, with only the top 1% surpassing the $500,000 mark.
Lawyer salaries by state
Lawyers in these states earn the highest median salaries: California ($175,680) New York ($172,880) Massachusetts ($161,530)
Is $300,000 a Year Considered Rich? Given that the average salary in the U.S. is about 21% of $300,000, yes, many would consider someone earning $300,000 per year by themselves to be rich. However, in most states, you'd need to make substantially more than $300,000 per year to be in the top 1% of earners.
In general, the five highest-paying states for lawyers are as follows: California ($201,530) Massachusetts ($196,230) New York ($188,900)
Peter Angelos | $2 Billion
The wealthiest lawyer in North America, Peter Angelos earned his J.D. from the University of Baltimore and gained prominence in asbestos litigation, securing over $100 million from a single case.
Topping the list, being a CEO gets you the highest paying job in the world, no matter where you work. A CEO is the highest-ranked position in any organisation's structure. Irrespective of the company's size, a CEO handles all its day-to-day corporate affairs, manages resources and handles all managerial processes.
That said, corporate lawyers generally stand to make the most and can pull in seven figures a year — if they make partner. For example, according to ALM Global's 2023 Global 100 Ranked by Profits Per Equity Partner, the global law firm Kirkland & Ellis LLP pays their equity partners $7.52 million annually.
As we have seen, lawyers in high-earning specialties such as corporate law, intellectual property, tax, personal injury, and real estate possess the greatest potential to reach millionaire status.
According to the survey, 30% of attorneys in the first five years of their career earn between $100,000-$149,999, and 29% make between $150,000-$199,999. On the higher end of the pay spectrum, 24% make $200,000- $249,999 and just 6% make $250,000 or more. Meanwhile, 10% make $100,000 or less.
What type of lawyer gets paid the most? Medical attorneys usually get the highest annual salary. Such lawyers provide clients with various legal advice and services related to medical law, including health law, personal injury, medical malpractice, and many other related fields.
Although some lawyers are extraordinarily wealthy, being a lawyer alone is rarely a means to achieve extreme wealth. Indeed, the vast majority of lawyers earn relatively modest incomes among other professionals in the workforce.
Judy Sheindlin, better known as Judge Judy, has a net worth of $290 million up from $250 million in 2015.
Although most lawyers have a regular 40-hour week, a significant percentage of them work more frequently. The average weekly work hours for various types of lawyers are: Lawyers working for large firms: 66 hours per week. Lawyers working for small and medium-sized firms: 42-54 hours per week.
Yes, as shown by the top-earning professionals in the legal field, it's possible to make over $1 million annually. However, you need to explore other ways to generate profits. While a lawyer's income is anything but small, your salary alone — especially if you're a non-partner — won't be enough to hit your target.
Yes, it is. In fact, that level of income significantly surpasses what a typical American worker earns in a year. But it's worth noting that your local cost of living and financial obligations can impact how far the money goes.
Even if you're paying a student loan or car loan, a $300,000 annual income means you can likely afford a home priced around $925,000. An income of $300,000 a year is more than four times the U.S. median household income of $74,580, so it gives you a good head start.