Corporate lawyers can work for a company or be self-employed and represent various clients. They guide their corporate clients and their employees through their legal rights and obligations, representing them as needed in both civil and criminal cases. Minimum requirements include an undergraduate degree, three years of law school and admission to the state bar. Most corporate lawyers work in comfortable offices, with access to legal staff.
Corporate lawyers earn a base salary of £48,733 to £94,761 per year as of January 2011, according to the PayScale.com Report. However, adding annual bonuses of £3,222 to £14,646, profit sharing of £650 to £6,468, and commissions of £330 to £9,750 can boost total compensation to the range of £52,820 to £105,662.
In general, the more experience corporate lawyers have, the higher their salaries because they reach more clients and develop more strategies for winning their cases. New lawyers earn £38,782 to £78,051 per year, but with one to four years of work they make £40,131 to £71,566. (The higher end of the first year is due to signing and recruiting bonuses.) At five to nine years, they get £60,106 to £93,976, and at 10 to 19 years they top out at £64,496 to £121,562. Compensation takes a slight dip at 20 years or more to a range of £70,258 to £116,073.
The type of practice can affect salaries. Those who specialise in taxes earn £51,288 to £101,846 per year. Experts in intellectual property and patent law protect the creations of a company so only it can profit. They make £53,963 to £94,756. Those who practice in corporate mergers and acquisitions can help their organisations expand smoothly. They receive £47,700 to £92,303.
The type of employer can determine salaries, with those lawyers working for a private practice firm earning the most money at £55,250 to £103,229 per year. This is slightly more than the compensation of those who are self-employed, with earnings at £56,613 to £96,679. Those working for the federal government make £49,596 to £83,032, while those in state and local jurisdictions receive £35,129 to £56,209. Colleges and universities pay £45,500 to £82,875 while companies offer £47,158 to £93,211.