The profession of a lawyer has come a long way as the world has gone through a rapid phase of exponential growth. With more and more companies, government authorities, and regulatory bodies forming each year, the need for corporate lawyers has increased a lot. According to Reuters, the legal profession, or in this case, the demand for a corporate lawyer has increased 1.4% year on year. Why is that, how has the landscape changed, what is the average corporate lawyer salary NYC has to offer? There are so many questions but before we get to the part that everyone is looking towards, what corporate lawyer salary has to offer, let’s take a look at how the landscape has changed in the USA.
USA – Home to corporations and best corporate lawyers
The corporate lawyer salary NYC has to offer is directly related to the legal landscape of the country. The abundance of corporate lawyers depends upon the number of companies that exist. If a country does not have any private company, then there may not be the need for a corporate lawyer and perhaps you may not even find them. In this case, even universities do not offer a degree in corporate law as it is very little to no demand. However, the USA is a completely different story.
The United States is one of the largest countries in the world and is the largest in terms of GDP or Gross Domestic Product. The GDP is the number of goods produced in the country. If the GDP of the country is high, that means a lot of goods are being produced in the country which would point out that there are a lot of corporations.
According to Statista, more than 804,000 businesses opened in the country in 2020. As a business opens, it comes under the rules and regulations of the regulatory body and the relevant legal laws. It must comply with these laws to operate lawfully within the country. This gives rise to the need for a corporate lawyer to ensure and handle the legal proceedings of the company and more.
The red, white, and blue is known for some of the best law schools in the world attracting talent like none. The USA takes the top 3 spots of the best law schools in the world with number one being Yale and the other two, Stanford and Harvard University. This is a testament to the demand for corporate lawyers in the country and the high corporate lawyer salary NYC sees.
You may have seen how lawyers are starting to show up in movies and TV series creating awareness and making this profession seem cool. The lifestyle they exude and the way they carry themselves is evidence of the fact that a corporate lawyer salary NYC offers is considerably high when compared to other professions. Before we get into what the average corporate lawyer salary has to offer is, let’s look in detail at the corporate lawyer profession and the roles and responsibilities that need to be carried out.
What does a corporate lawyer do?
As from the term, anyone can take a logical guess that a corporate lawyer definition states that a corporate lawyer works in the field of corporate law. Initially, people had thought that corporate lawyers are only found in private firms, however, these lawyers do not necessarily need to be in a private firm to represent them but can have their law firm or work at a law firm as a corporate lawyer.
Before we get into what corporate lawyer salary NYC has to offer, let’s take a look at some of the roles and responsibilities of a corporate lawyer.
Roles and responsibilities of a corporate lawyer
For any commercial transaction that takes place, a corporate lawyer needs to check its legality and if it has been conducted in the right way according to the law. However, that is not the only responsibility a corporate lawyer has to fulfill.
- Need to attend the trial and court proceedings. Before that, appropriate documentation needs to be prepared and carried out.
- Analyze business and legal contracts and review business partnerships between the relevant parties.
- Ensure participation in legal proceedings.
- Go over companies’ policies to ensure compliance with the law.
- Analyze legal risks and understand any legal violations and ensure protection to the client or company.
- Be able to negotiate a deal on behalf of the client.
- Bring to light regulatory and compliance issues to ensure the proper following of the regulations.
- Be up to date on all the legal requirements and regulations for new products and services.
- Take responsibility for all legal processes of a client from agreements, patents to mergers and acquisitions and more.
- Create corporate policies for any legal issue that may arise.
- Protect client’s against any legal risks
Now that you’re aware of the roles and responsibilities that need to be carried out by a corporate lawyer, let’s go to the part that you’re truly here for. What is the average corporate lawyer salary NYC has to offer?
Corporate lawyer salary NYC – Entry-level and experienced
What is the average corporate lawyer salary NYC has to offer?
The corporate lawyer salary NYC has to offer is some of the highest in the country and the world. The demand for corporate lawyers due to the country’s growth has increased, thus resulting in a higher corporate lawyer salary NYC sees.
Before we get into the details of what corporate lawyer salary offers, let’s look at some other country’s averages for the sake of comparison. The average corporate lawyer in the United Kingdom earns around £50,000 annually. In Canada, the figure is a bit higher than what the UK offers. The average salary of a corporate lawyer in Canada is approximately 100,000 Canadian dollars. So how do these two countries compare with the USA and specifically with New York?
A recent survey was conducted to find out the average salary of a corporate lawyer in the States and surprisingly, it is more than what the other two countries offer. A corporate lawyer bags in approximately $150,000 annually, however, the average corporate lawyer salary NYC has to offer is more than that. NYC has a higher average salary than the rest of the country because this is where business is done and NYC has some of the best law firms headquartered there. The average corporate lawyer salary NYC offers is around $173,000, a figure that may surprise anyone but it is true. The Big Apple is a place where dreams come true.
Corporate lawyer salary NYC – Other designations and field of corporate law
Now that we have discussed the corporate lawyer salary NYC has to offer, let’s go over some of the other fields of corporate law and their salary slabs. This information is important if you’re looking to hire a lawyer for your firm. The average business lawyer salary in the United States, as of 2021, is around $97,000 annually.
In the United States, corporate attorney salaries are almost similar to corporate lawyer salaries. If you’re looking for information about corporate attorney salaries then you should know that a corporate attorney salary is about $160,000 annually.
A corporate litigation lawyer earns somewhere around $120,000 to $130,000 annually depending on their expertise which is considerably high when compared to the national average of $93,000 annually for a corporate finance lawyer salary.
All of the salaries mentioned above are not for an entry-level position but for an intermediate level whereby the lawyers have a total of 1 to 3 years of legal experience. An entry-level corporate lawyer salary is roughly about $70,300 annually which is still a considerably high salary when compared to other fields of work.
How to find a corporate lawyer near me?
There are many different ways you can find a corporate lawyer near me. It all depends on what suits your preferences and needs.
Approaching a law firm
Many corporates find it easy to approach a law firm and retain their services. If you’re reading this, own a business, and looking to find a corporate lawyer near me, the best approach is to find the best law firm. Do some research on which law firms are the best in the region and can offer your business corporate law services.
However, you may find that the corporate lawyer appointed to you might not be to your liking or you may not agree on many things and this can cause concern for you and your business. Since you’re paying a legal firm to take over your business’s legal matters, then you do not need to worry as another available corporate lawyer can be assigned to you.
Searching a legal directory
Yes, back in the good old days’ people used to search for things on the yellow pages. Then came craigslist where people started to advertise their services. However, these have become redundant as there are many different online legal directories like Halt.org, Findlaw.com, and more. These websites have all the details you require. Individuals can search for corporate lawyers or any kind of lawyer on these online directories by simply adding their location.
Once you’ve added your location, the directory will show you different corporate lawyers near you. You will be able to look at their contact number, their rating, their reviews, their law firm, and other essential details. This is a great way as although you might be bringing a law firm on board, you will get to do the entire candidate screening. This will give you peace of mind on who will be working with you and your business.
If you’re on the lookout for a corporate lawyer near you for your business, a great option is to consider hiring one for the company rather than paying hefty retainer services to law firms. This is a great option as you will always have a lawyer available on your business premises to help ensure that the business follows all rules and regulations and that business is conducted within the legal parameter. Although this might be an expensive option as you may find legal firms providing their services at a lower retainer fee but then again it does not come with all the advantages associated with hiring your corporate lawyer.
There are also professional services corporations that outsource human resources according to your business needs. You can approach these companies and find out if they are able to help you with getting a corporate lawyer on board for your business.
Corporatecounsel.net is an online platform where legal professionals are there to help those looking for legal help or corporate legal services. The platform is a one-stop solution for all those wanting to get a bit of guidance for their businesses. The best part about Corporatecounsel.net is that it is filled with members from the community who interact with each other.
Interacting with these members and learning from their experiences is a great way to grow your business. However, it is not only about that but you can even share your own legal story if you have any and see if anyone has gone through the same. It is a great way to connect with like-minded people and learn from them.
Readers are required to purchase a subscription that needs to be renewed annually to avail all of these services and more. People can sign up either via email, phone, or online using the website’s payment portal. There are different types of subscription or online publications one can subscribe to such as corporatecouncil.net, section16.net, deal tales, and more.
Each subscription has a different price tag to it such as the corporate council newsletter costs $1,435 while the corporate council.net and section16.net cost $2,180 annually. The price list of all online publications is mentioned on their online order form where you can also give an order for a subscription that you would like to subscribe to. You would need to provide your credit card details and your personal information to become a member. You can even pay by cheque.
The best part about these legal online publications is that they are always up to date with the latest news, information, best practices, and even the average corporate lawyer salary NYC has to offer.