What percentage of lawyers are wealthy?
Asked by: Laurie Bauch | Last update: January 21, 2026Score: 4.4/5 (34 votes)
My math says 0.3%-0.35%. There are 4100 biglaw attorneys who rake in a million a year or more, which is 0.31% of all attorneys; the 100 highest paid GCs average $2.7 million per year, and there are easily just as many solo or small-firm attorneys who also make that much.
What percentage of lawyers become rich?
As many readers know, only approximately 18-20% of graduating lawyers end up in Biglaw with high salaries and many don't last more than 2-3 years before moving on to other pursuits. The vast majority end up making significantly less.
What percent of lawyers make $500,000?
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.
Are lawyers considered wealthy?
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.
What do the top 10% of lawyers make?
In May 2022, the median annual wage for lawyers was $135,740. The 10th percentile of top-earning lawyers makes an annual wage of $66,470, while those in the 90th percentile earn $239,200 or more per year.
Big Law's Big Paychecks: Partner Compensation, Explained
How to make $500,000 as a lawyer?
- High-Performance Law Firm Website.
- Create High-Performance Content.
- Optimize Legal Website Ads.
- Improve Reviews and Listings.
- Manage Your Legal Reputation.
What is the richest type of lawyer?
- Patent attorney: $180,000.
- Intellectual property (IP) attorney: $162,000.
- Trial lawyer: $134,000.
- Tax attorney: $122,000.
- Corporate lawyer: $115,000.
- Medical lawyer: $113,000.
- Real estate lawyer: $98,000.
- Family lawyer: $93,000.
Can lawyers make 7 figures?
Corporate Lawyer (Partner)
Though that's far from pocket change, it's certainly not landing you in the earnings tier of a millionaire. That said, corporate lawyers generally stand to make the most and can pull in seven figures a year — if they make partner.
Are lawyers richer than doctors?
According to the BLS, medical doctors which include both medical doctors (MDs) and doctors of osteopathic medicine (DOs) earned an annual median salary of $208,000 per year in 2016. Lawyers, according to the BLS, had an annual median salary of $118,160 in 2016, a significant difference between them of $89,840.
How many lawyers make over 100k a year?
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.
How hard is law school?
In summary, law school is hard. Harder than regular college or universities, in terms of stress, workload, and required commitment. But about 40,000 people graduate from law schools every year–so it is clearly attainable.
Where do most lawyers live?
The state with the most lawyers is New York. With its significant concentration of law firms, corporate headquarters, and financial institutions, New York has the highest number of practicing attorneys in the U.S., particularly in cities like New York City.
Are law partners rich?
Partner pay has continued to escalate in 2024, according to industry observers, with the top rung of the pay scale around $20 million and even approaching $30 million annually for the biggest star laterals, firm leaders and the highest-performers within the most profitable firms.
Do most lawyers make 6 figures?
In general, the five highest-paying states for lawyers are as follows: California ($201,530) Massachusetts ($196,230) New York ($188,900)
Are lawyers becoming oversaturated?
Law School Myth 5:
The job market for lawyers is oversaturated. While it is true that there are more law school graduates than there are jobs available in some markets, the job market for lawyers is actually quite strong overall.
How much do the top 1% of lawyers make?
The data source was compiled from the US Department of Labor. The top 10% of attorneys in America make over $208,000, and the top 1% make well over $500,000 per year.
Do lawyers make 200k a year?
The median starting salary is $215,000 in 11 cities and geographic areas. They are Austin, Texas; Boston; Chicago; Dallas; Houston; Los Angeles/Orange County, California; New York City; San Diego; San Francisco; Silicon Valley in California; and the Washington, D.C., area.
What is the highest paying job in the world?
1. Chief Executive Officer (CEO) 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.
Are lawyers or bankers richer?
On Wall Street, Lawyers Make More Than Bankers Now - WSJ.
Who is the lowest paid lawyer?
We find that within the legal industry, certain segments are known to offer lower compensation. Typically, public defenders, legal aid attorneys, and lawyers working for nonprofit organizations are among the lowest paid.
Do lawyers make good CEOs?
We found that CEOs with legal training were associated with higher firm value, but only in a subset of firms, specifically, in high-growth firms and firms with large amounts of litigation. Outside of this setting, however, the effect of CEOs with legal training on firm value was negative.
What kind of lawyer makes millions?
Patent Attorney Salary
Patent attorneys are the highest-paid type of lawyers, with an average salary of $185,351, ranging from $119,88 to $285,530. Various factors contribute to a patent attorney's average salary, including experience, firm, location, and subject matter expertise.