Lawyer Salary With Masters Degree
The average lawyer salary with a master’s degree is $110,000. The highest-earning lawyers are those with a doctorate (PhD). These professionals earn an average of $159,000 per year. The lowest-paid professionals are those with only an undergraduate degree, who make an average of $75,000 per year.
Lawyer Salary With Masters Degree
In law school, you earn a juris doctor degree to grasp the foundations and essential concepts of the law. A master of laws, or LL.M., program narrows your legal education to a specific field, such as taxation, national security, patents and trademarks or business. Many turn to an LL.M. with the belief that the advanced knowledge of some legal field or the post-J.D. education will enhance a resume or overcome a low class rank. Before you plunge into an LL.M. course of study, you need to gauge whether and how much an employer will value a LL.M.
In the Government
If your LL.M. concentration is in taxation, you can work for the federal agency charged with collecting taxes. An LL.M. enters the Internal Revenue Service’s Office of Chief Counsel’s Honors Program at the GS-12, Step 4 pay grade. This translates to an overall average beginning annual salary of $66,964, which is more than someone with a J.D. alone. Your pay at this level depends on where you work. For instance, you will start at $83,183 if you work in the nation’s capital. Master’s of law graduates also can apply their specialized knowledge to other federal agencies. For example, the US Army Corps of Engineers will count an LL.M. as one year’s experience when hiring a general lawyer. A lawyer with the Corps of Engineers can expect a minimum salary of $88,165, up to a maximum of $114,614.
Where Judges Get Advice
Law clerks advise judges and help them to write legal decisions and opinions on matters such as bankruptcy and the death penalty. In the federal court system, an LL.M. graduate can qualify as a clerk even if you didn’t graduate in the top third of your law class or make editor of the law review. Law clerk salaries are set by the federal Judicial Salary Plan. Depending on qualifications, you might expect an average starting salary as high as $72,391. Law clerks with at least three years of experience as a law clerk or other positions in the federal judiciary can earn as much as $85,544. These base salaries can increase based on the location of the court at which you serve.
Not all law firms factor LL.M. degrees in their hiring or pay policies — especially for graduates lacking prior legal experience. Even firms that consider whether you have an LL.M. may require you to have a minimum grade point average or class rank in both the J.D. and LL.M. programs. According to the New York University Law School, first-year associates with an LL.M. usually are paid at the level for second-year associates. A survey from the National Association for Law Placement reports a median salary of $130,000 for second-year associates. The salary depends, in part, on the number of lawyers in the firm. According to the NALP survey, the median was $84,100 for firms from two to 25 lawyers; firms with 101 to 250 lawyers paid a median salary of $112,500.
The Corporate World
A number of LL.M. degree tracks concentrate on business, finance, entrepreneurial and corporate law, covering the legal aspects of financing and other business transactions and corporate governance. Graduates of these programs can land jobs with both established and start-up companies. According to the University of Colorado at Boulder Law School, its LL.M. graduates have been placed in beverage, telecommunication and satellite entertainment companies, among others. The U.S. Bureau of Labor Statistics reports that lawyers in the management of businesses made an average salary of $163,510 in 2012; BLS does not distinguish between J.D.s and LL.M.s.
Salary for Specific Job
The NALP Directory of Legal Employers can show what you may earn from a particular employer that accepts LL.Ms. You can choose to display jobs for any or all of the categories of corporate, government, law firm and public interest. If you’re interested in a federal job, visit USAJOBS.gov.
Salaries for Lawyer V with a Master’s Degree or MBA
According to our 100% employer reported salary sources the median salary for an Lawyer V with a Master’s Degree or MBA is $195,277 – $207,399. Please try our salary wizard to explore how other factors like location, Years of experience and number of direct reports can impact your base pay and bonus.Typical Education for Lawyer VMastersDoctorate
view as tableLawyer V Salaries by Degree LevelNo DiplomaHigh School Diplomaor TechnicalCertificateAssociate’s DegreeBachelor’s DegreeMaster’s Degree orMBAJD, MD, PhD orEquivalent$180,000$185,000$190,000$195,000$200,000$205,000$210,000$215,000
|Lawyer V with the following degree||Will likely fall in this salary range|
|No Diploma||$184,486 – $198,874|
|High School Diploma or Technical Certificate||$187,363 – $201,391|
|Associate’s Degree||$190,600 – $203,751|
|Bachelor’s Degree||$193,478 – $205,996|
|Master’s Degree or MBA||$195,277 – $207,399|
|JD, MD, PhD or Equivalent||$197,794 – $209,363|