Personal injury lawyer salary? This is one of the burning questions on the internet that most people love to inquire about. You will find plenty of posts on the internet beating this topic to death. It’s just that people are quite curious about how much a personal injury attorney makes.
If you are at a crossroads of whether you should pursue this career or not, learning about the salary of a personal injury lawyer will help you make a decision about enrollment in a law school.
How Much Does a Personal Injury Lawyer Make?
An outsider looking in can tell that lawyers make a handsome amount of money than many other professions. It is true that lawyers have a decent annual salary, however, there is no way to know the exact figure.
Some estimated salary figures can give you an idea of whether you should choose this career path or not. On average, a PI lawyer makes more or less than $82,960 on a yearly basis.
Some lawyers are paid an hourly wage rate between $60 to $100. Most lawyers work on a contingency fee basis, so their remuneration largely depends on the settlement amount the court has awarded.
Lawyers employed at a law firm do not get to decide yearly income. The organization pays them a specific amount on a yearly basis along with a bonus.
Hourly Wage of Personal Injury Lawyers
Per-hour rates are not quite common these days, however, some lawyers may agree to be paid hourly. The hourly rate ranges between $60 to $100, in some cases, it even goes up to $200.
Many lawyers prefer to get this form of payment when they do not expect a favorable court verdict. PI lawyers do not want to end up with minimal return, so, they generally avoid at fault or partial fault type cases.
Hourly billing is only chosen when the percentage of compensation does not give them a good return. When the case is weak, lawyers settle for an hourly charge.
Percentage of Compensation
Most attorneys chase a percentage of compensation or contingency fee as they can get a handsome amount out of the claim. Many states have limited the percentage that a lawyer can charge for the contingency fee.
This fee is negotiable, whatever the two parties mutually agree upon. In California, it is left to the parties to decide a fair amount.
In a typical contingency fee agreement, the lawyer takes 33.33% of the gross settlement plus the expenses incurred by him in filing and pursuing the lawsuit.
Not all lawyers get 33.33%, some charge less whereas others demand more. Minor compromises and negotiations can lead to the reduction of fees to 25%.
PI lawyers do not agree at a lesser percentage, especially if they can predict favorable outcomes. The contingency fee percentage generally ranges from 25% to 40%. If the case goes to trial, a lawyer can demand a higher percentage of 50%.
Average Personal Injury Attorney Salary as Per the Different States
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- Massachusetts – Massachusetts is at the top of the list when it comes to paying handsome remuneration to lawyers. The average salary of a PI lawyer in this state is $95,607.
- Washington – Personal Injury lawyers in Washington are paid approximately $87,531.
- Maryland – The average PI lawyer salary in Maryland is $85,245.
- New York – Here, Personal injury attorneys get about $84,791 yearly.
- Nebraska – PI attorneys in this state are getting an estimated yearly salary of $83,583.
Final Thoughts
26% of the lawyers are self-employed to get good returns and flexibility. The average salary a lawyer gets depends on different factors and situations. Nonetheless, lawyers get to take home a handsome, sometimes, even more than the client.
