Salary of a Bankruptcy Attorney
- According to the Degree Finder website, as of January 2010 bankruptcy lawyers earned wages of $61,000 per year as a national average. Salaries and wages vary considerably depending on the location of the attorney's practice as well as the attorney's experience level and employer. Some attorneys qualify for bonuses and commissions, which can greatly increase their earnings.
- Geographic location plays a significant role in the earnings of bankruptcy attorneys. For example, the highest paid attorneys are in locations such as Washington D.C., New York, Delaware and Florida. Surprisingly, these locations also employ the highest number of attorneys per one thousand workers. In New York, bankruptcy attorneys earn approximately $86,000 on average annually according to the salary information website Indeed. Washington D.C. bankruptcy attorneys average $80,000 per year. Bankruptcy attorneys in California, however, earn slightly less at $71,000 per year according to the Indeed website.
- Attorneys work in a variety of fields and earn wages according to the work they perform. Lawyers in private practices typically concentrate on civil or criminal law. Similar to bankruptcy attorneys, these lawyers assist clients with navigating the court system and interpreting the various laws that affect them. According to the U.S. Bureau of Labor Statistics (BLS), lawyers across all specialties and geographic locations earned average median salaries ranging from less than $56,000 per year to more than $113,240 as of May 2009.
- Lawyers held just under 800,000 jobs in 2008 according to the BLS. Most were employed in various government organizations or held positions in law firms, nonprofit organizations or corporations. Employment of lawyers is projected to grow by 13 percent through 2018, according to the BLS. Bankruptcy attorneys will show significant job growth due to the increasing demand for legal services in the industry. The economy plays an important factor in the demand for bankruptcy attorneys as well, because during times of recession, many individuals and businesses file for bankruptcy.
