What is the growth potential for a lawyer?

Answer 1

The following is according to the U.S. Department of Labor particular to the job outlook of lawyers.

Average employment growth is projected, but job competition is expected to be keen. Employment change. Employment of lawyers is expected to grow 11 percent during the 2006-16 decade, about as fast as the average for all occupations. The growth in the population and in the level of business activity is expected create more legal transactions, civil disputes, and criminal cases. Job growth among lawyers also will result from increasing demand for legal services in such areas as health care, intellectual property, venture capital, energy, elder, antitrust, and environmental law. In addition, the wider availability and affordability of legal clinics should result in increased use of legal services by middle-income people. However, growth in demand for lawyers will be constrained as businesses increasingly use large accounting firms and paralegals to perform some of the same functions that lawyers do. For example, accounting firms may provide employee-benefit counseling, process documents, or handle various other services previously performed by a law firm. Also, mediation and dispute resolution increasingly are being used as alternatives to litigation. Job growth for lawyers will continue to be concentrated in salaried jobs, as businesses and all levels of government employ a growing number of staff attorneys. Most salaried positions are in urban areas where government agencies, law firms, and big corporations are concentrated. The number of self-employed lawyers is expected to grow slowly, reflecting the difficulty of establishing a profitable new practice in the face of competition from larger, established law firms. Moreover, the growing complexity of law, which encourages specialization, along with the cost of maintaining up-to-date legal research materials, favors larger firms. Job prospects. Competition for job openings should continue to be keen because of the large number of students graduating from law school each year. Graduates with superior academic records from highly regarded law schools will have the best job opportunities. Perhaps as a result of competition for attorney positions, lawyers are increasingly finding work in less traditional areas for which legal training is an asset, but not normally a requirement-for example, administrative, managerial, and business positions in banks, insurance firms, real estate companies, government agencies, and other organizations. Employment opportunities are expected to continue to arise in these organizations at a growing rate. As in the past, some graduates may have to accept positions outside of their field of interest or for which they feel overqualified. Some recent law school graduates who have been unable to find permanent positions are turning to the growing number of temporary staffing firms that place attorneys in short-term jobs. This service allows companies to hire lawyers on an "as-needed" basis and permits beginning lawyers to develop practical skills. Because of the keen competition for jobs, a law graduate's geographic mobility and work experience assume greater importance. The willingness to relocate may be an advantage in getting a job, but to be licensed in another State, a lawyer may have to take an additional State bar examination. In addition, employers increasingly seek graduates who have advanced law degrees and experience in a specialty, such as tax, patent, or admiralty law. Job opportunities often are adversely affected by cyclical swings in the economy. During recessions, demand declines for some discretionary legal services, such as planning estates, drafting wills, and handling real estate transactions. Also, corporations are less likely to litigate cases when declining sales and profits restrict their budgets. Some corporations and law firms will not hire new attorneys until business improves, and these establishments may even cut staff to contain costs. Several factors, however, mitigate the overall impact of recessions on lawyers; during recessions, for example, individuals and corporations face other legal problems, such as bankruptcies, foreclosures, and divorces requiring legal action. For lawyers who wish to work independently, establishing a new practice will probably be easiest in small towns and expanding suburban areas. In such communities, competition from larger, established law firms is likely to be less than in big cities, and new lawyers may find it easier to establish a reputation among potential clients. For the source and more detailed information concerning your request, click on the related links section (U.S. Department of Labor) indicated below this answer box.

Answer 2

According to Shakespeare, very little.

Answer 3

$80k