As the legal industry continues to evolve, law firms are increasingly turning to contract attorneys to manage their workflows. This has resulted in an increase in demand for contract attorneys, particularly in big law firms. With this increase in demand comes the question of salary. What does a big law contract attorney make?
According to a recent report by the National Association for Law Placement (NALP), the median hourly rate for contract attorneys in big law firms ranges from $50 to $75 per hour. However, this rate can vary greatly depending on the market, experience, and type of work involved.
In larger markets, such as New York and Los Angeles, contract attorneys can command higher rates, sometimes exceeding $100 per hour. Similarly, contract attorneys with specialized expertise, such as in patent law or complex litigation, may also command higher rates.
Experience is another important factor in determining a contract attorney`s salary. Typically, contract attorneys with more experience will command higher rates than those with less experience. This is because more experienced attorneys have a track record of success and can bring a higher level of expertise to the table.
The type of work involved can also impact a contract attorney`s salary. For example, contract attorneys working on high-stakes litigation or large-scale document review projects may be paid more than those working on simpler projects.
It`s worth noting that contract attorneys are typically paid on an hourly basis, rather than receiving a salary. This means that the amount a contract attorney makes can vary greatly depending on the number of hours worked.
In addition to hourly rates, some big law firms also offer contract attorneys benefits such as health insurance, paid time off, and retirement plans. However, these benefits are not guaranteed and can vary depending on the firm.
Overall, the salary of a big law contract attorney can vary greatly depending on a number of factors. While the hourly rate typically falls within the range of $50 to $75 per hour, this can vary depending on the market, experience, and type of work involved. Contract attorneys with specialized expertise and those working on high-stakes projects may command higher rates, while those with less experience may be paid less. Ultimately, the salary of a big law contract attorney is dependent on the specific circumstances of the individual attorney and the firm they are working for.