Studying business law or legal studies and earning a Juris Doctor (J.D.) degree could lead you to work as a business attorney or as corporate counsel. With a business law bachelor's or associate's degree, you can become a corporate paralegal. Read on to learn more about the average entry-level salaries for these careers in the business law field.
Career Information for Business Law Graduates
In order to become a lawyer, you must first earn a Juris Doctor degree. You'll also need a license to practice law, which requires you to pass the bar exam in the state in which you wish to work. This process usually includes a written examination, an ethics test and sometimes a performance-based exam.
Paralegals only need an associate's or bachelor's degree and do not need to pass the bar exam. You can major in business administration or legal studies with a business law concentration if you wish to specialize in corporate legal assisting. Although not a requirement, you might also want to receive certification with an accredited paralegal association or organization. Certification requirements usually include postsecondary education and work experience, passing an exam and completing continuing education for re-certification.
<h3 id="section---ImportantFactsAboutTheseOccupations">Important Facts About These Occupations</h3><p></p><table border="1"><tr><th> </th><th>Lawyer</th><th> Paralegal</th></tr>
<tr><td> Median Salary (2021) </td><td> $127,990</td><td> $56,230</td></tr>
<tr><td> Job Outlook (2021-2031)</td><td> 10% </td><td> 14%</td></tr>
<tr><td>On-the-Job Training</td><td> Not provided</td><td> Short-term training to adjust into company culture</td></tr>
<tr><td> Key Skills </td><td> Analytical, problem-solving, interpersonal and speaking skills </td><td>Research, communication and organizational skills</td></tr>
<tr><td> Work Environment</td><td> Office settings, courtrooms</td><td> Office setting, travel sometimes required</td></tr>
</table><p><i>Source: U.S. Bureau of Labor Statistics</i>
</p><h3 id="section---BusinessAttorneySalary">Business Attorney Salary</h3><p>Entry-level business attorneys perform legal research and assist senior attorneys. As a business attorney, you can choose to work in a variety of business-related legal fields, such as contracts, real estate, trade, sales or insurance. It is difficult to accurately predict how much you will make as soon as you graduate with a business law degree. According to the website <i>PayScale.com</i>, most business attorneys have an average salary of $83,946.
</p><h3 id="section---CorporateAttorneySalary">Corporate Attorney Salary</h3><p>As a business law graduate, you might work as a corporate attorney. You represent a corporation or a company in court whenever they are sued by employees and handling issues regarding human resources. You can also be a consultant for business executives. <i>PayScale.com</i> stated that corporate counsels generally earned between $75,000 and $204,000 yearly as of 2023.
</p><h3 id="section---CorporateParalegalSalary">Corporate Paralegal Salary</h3><p>As a corporate paralegal, you'll aid lawyers with the research and clerical work needed to organize lawsuits, contracts, tax statements and financial records. The majority of corporate paralegals have an average salary of $67,714 as of January 2023, according to <i>PayScale.com</i>.</p>
