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The truth about lawyer LLM salaries

Katie Schenk - October 01, 2018

Lawyer Salaries

The lure of high pay cheques tempts many into the field of law. But, are lawyer salaries everything they’re reputed to be?

Yes.

And no.

It all depends on the type of work you do, your level of education, and the area where you live.

How much should you expect to earn?

Lawyer salaries range dramatically.

In the United Kingdom, a trainee solicitor could expect to earn between £25,000 and £40,000 annually.¹ And that’s just for training.

Qualified solicitors will start in the same pay range, though larger, commercial firms in the city may offer lawyer salaries closer to £80,000

Barristers with a few years of experience under their belt are more likely to earn in the double digits, but there is an incredible range between £50,000 on the low-end and £200,000 on the higher end of the scale.

A quick look at UK solicitor salaries¹

Starting salary for solicitors in small firms

£25,000 - 40,000

Starting salary for solicitors in city firms

£58,000 - 65,000

Starting salary for solicitors in large firms

£80,000 +

Senior, non-partner salary for solicitors

£60,000 - 90,000

Senior partner salary for solicitors

£80,000 - 100,000

The American legal system doesn’t work with the same divisions; the terms solicitor and barrister don’t equate in the United States. But, the salaries are still impressive – even with an undergraduate legal degree.

According to the US Bureau of Labor Statistics, lawyers earn a median salary of $119,250 annually – and keep in mind, that's the median, plenty of lawyers bring in more.²

Plus, no matter where you are in the world, the higher your level of legal education, the higher any lawyer salary will be.

Will a Master’s of Law really pay?

The short answer is yes. 

  • With an LLM degree in the United States, you can expect to see a starting salary of $66,964... if you work for the government.³ 
  • If you head into corporate law, the annual average lawyer salary is closer to $163,510 (that’s across all levels of work experience).³

Planning to accept a job with a private firm?

You can expect to bring home the equivalent of a second-year associate as a first-year associate... as long as you have an LLM degree. You might also be interested to know that second-year associates earn a median of $130,000

And, if the Big Apple calls your name, you can expect a healthy lawyer salary. LLM attorneys in New York City currently earn an average of $104,889, with some firms offering average salaries above $200,000.⁵ 

A quick look at US attorney salaries⁴

Average entry level salary (0-5 years)

$70,000

Average mid career salary (5-10 years)

$98,000

Average experienced salary (10-20 years)

$119,000

Average late career salary (20+ years)

$139,000

And, that's only 17% more than national average. In San Francisco, salaries are 40% higher than the national average.⁴

It’s little wonder that LLM degrees on the rise – in the United States (and across the world).

 

Are you interested in pursuing your Masters of Law degree? 

Why not start the search for a university by seeing which schools accept Prodigy financing from qualified international students? Then see how much you'll qualify for by applying for a loan.


¹ allaboutlaw.co.uk/stage/becoming-a-lawyer/the-truth-about-lawyers-salaries

² bls.gov/ooh/legal/lawyers.htm

³ work.chron.com/average-pay-llm-lawyer-30146.html

⁴ payscale.com/research/US/Job=Attorney_%2F_Lawyer/Salary

⁵ indeed.com/salaries/Attorney-Salaries,-New-York-NY


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