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Which area of law pays the most in order apart from commercial law?

I am currently studying history at a Top 20 uni and am considering doing a law-conversion course. However, I have no idea which area of law i would like to specialise in. I would like the work to be enjoyable and financially rewarding too. I have heard that commercial law is extremely diificult to get into, so apart from that, which areas of law pay the most? Thanks for your replies

Reply 1

flibbertigibbet

Areas aside, you should consider what type of lawyer you would like to be.

Reply 2

andy_1989

If by commerical law you mean corporate, it is competitive but wide-ranging. One of my dad's colleges is a derivitives lawyer, he's on 100K+.

Reply 3

kalokagathia

andy_1989

If by commerical law you mean corporate, it is competitive but wide-ranging. One of my dad's colleges is a derivitives lawyer, he's on 100K+.

Pick the right firm and you'll earn that as an NQ. Life can be pretty lucrative if you're prepared to leave your BlackBerry switched on for 11 months straight..

Reply 4

Lewisy-boy

Lol, maybe if you work at Lathams or someone like that... firms paying 100k are very very few and far between at NQ level. Further, I like the way you say 'pick'. Oh and yeah, every top firm requires you to have your blackberry on constantly, not just those US firms paying sily money.

As for commercial law being competitive - it is, but it's not near as bad as what everyone makes out (as a solicitor anyway). Some people just have no confidence and downplay their chances so that they don't get ripped if they fail to pick up a TC. other areas of law, I have no idea. But don't discount commercial just because it's competitive.

Reply 5

Ethereal

Might be an idea to wait until you have studied law and see what you enjoy/have an aptitude for. No point aiming for something based on pay if you hate it or are **** at it!

Reply 6

TommehR

Lewisy-boy

Lol, maybe if you work at Lathams or someone like that... firms paying 100k are very very few and far between at NQ level.

Hmm, I'm under the impression that even the American firms only start paying six figures a few years after qualification.

Reply 7

Lewisy-boy

The Latham website is the highest I've seen "NQ salary: minimum 87.5k", with a bonus like most US firms pay it probably gets up to very close to 100k. But I've not looked into the likes of Cleary/Skaddens etc.

Reply 8

TommehR

Lewisy-boy

I think that Skadden is six figures after three years qualification.

Reply 9

kalokagathia

Lewisy-boy

Cleary NQs are expecting to take home between £105-110k incl. bonus this year.

Reply 10

Lewisy-boy

Well there you go; with those US firms we're talking about now if you hit, probably more like smash, your (no doubt incredibly high) targets you can do pretty healthily for yourself as soon as you qualify. Anyway, I don't get what the big deal is with making stupid money immediately... even if you're on 55k as an NQ like most firms you can hardly purport to be poor :s-smilie:

Reply 11

kalokagathia

Lewisy-boy

I like the way you say 'pick'.

Choose? Select? Decide upon? How would you describe the process of picking a law firm?

Lewisy-boy

Oh and yeah, every top firm requires you to have your blackberry on constantly, not just those US firms paying sily money.

Didn't really deny that did I? I simply said that if you do want to earn 6-figure sums as a junior lawyer, you should be prepared to be 'on call' 24/7.

Reply 12

Lewisy-boy

I'd say "when choosing who to apply to", and be less presumptuous.

Second point: you seemed to imply that with other firms that wouldn't be the case. You appeared to link the two points together: earning 100k as NQ = leaving blackberry on 24/7 but for less money you could leave it on for less time, which is a gross oversimplification! You may have to work more and work harder at US (which I think seems to be accepted), but the Blackberry point isn't so directly linked to that.

Anyway, pointless debate on technicalities...

Reply 13

kalokagathia

Lewisy-boy

you seemed to imply that with other firms that wouldn't be the case. You appeared to link the two points together: earning 100k as NQ = leaving blackberry on 24/7 but for less money you could leave it on for less time, which is a gross oversimplification! You may have to work more and work harder at US (which I think seems to be accepted), but the Blackberry point isn't so directly linked to that.

Look carefully at what I said. The structure of my sentence is "X can be Y if Z", not "X is Y because of Z". Comments based solely upon misreadings don't really contribute much..

The point I was making was that if you decide to work at a top City firm, you should be prepared to leave your BlackBerry switched on all the time. Amongst my friends are people who are capable of being accepted at such firms, but choose to work elsewhere precisely because this doesn't appeal as a lifestyle choice.

Reply 14

TommehR

kalokagathia

Look carefully at what I said. The structure of my sentence is "X can be Y if Z", not "X is Y because of Z". Comments based solely upon misreadings don't really contribute much.