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Financial Lawyers

Finance lawyers specialize in working in a variety of fields including tax, corporate compliance, marriage and divorce, banking and public arenas. Typically, finance lawyers provide legal guidance around issues such as policy, public and environmental issues and mergers and acquisitions. The lawyers represent corporations, government organizations or individual clients during legal proceedings. According to the "United States Department of Labor Occupational Outlook Handbook," about 27 percent of lawyers are self-employed as law firm partners or as owners of solo practices.

The next few posts will be steps on how to become a financial lawyer. Enjoy! :)

"In the Halls of Justice the only justice is in the halls."

- Lenny Bruce

Higher suicide rate

Personality characteristics often associated with lawyers, such as perfectionism and competitiveness, when combined with depression may be contributing to a higher suicide rate in the legal profession, an expert says.

Lanny Berman, executive director of the American Association of Suicidology, a group devoted to suicide prevention, says risk factors for suicide include depression, anxiety, substance abuse, suicide ideation, divorce and stress. And lawyers experience many of these risk factors at higher rates than the general population, he says. Lawyers are also more likely to be perfectionist and competitive, personality traits that make a person considering suicide less likely to seek help.

"I have come to the conclusion that one useless man is called a disgrace, two men are called a law firm, and three or more become a Congress."

 - John Adam's

Pro Bono

Many attorneys lend their services at no charge, which is known as pro bono work. More than 70 percent of lawyers polled by the American Bar Association say they provide pro bono work, according to a 2009 news release from the University of Buffalo. This is a 10 percent increase from 2004. The university references published works---" Private Lawyers and the Public Interest: The Evolving Role of Pro Bono in the Legal Profession"---that examine free legal services during economically difficult times. The upswing in pro bono services is related to the deep cuts in government assistance for the poor, the university says. In addition, law firms are viewed more favorably by the public when they accept pro bono cases.

“Laws control the lesser man... Right conduct controls the greater one.”

- John Hathway

Personalities

Consumers have a stereotypical image of lawyers as being aggressive perfectionists. Sadly, those same personality traits might be responsible for a high suicide rate among lawyers, says journalist and law school graduate Debra Cassens Weiss in an American Bar Association Journal article titled "Personal Lives: Lawyer Personalities May Contribute to Increased Suicide Risk." She cites studies that indicate that suicide is the third-leading cause of death in the legal profession behind cancer and cardiac troubles. Cassens Weiss also references studies showing that male lawyers between ages 20 and 64 are twice as likely to die from suicide than men in the same age range in other professions. Other researchers found that female lawyers have high divorce rates, and many attorneys say they suffer from anxiety several times a month

“The law will never make men free, it is men that have to make the law free.”

- Henry David Thoreau

Salaries

Salaries of experienced attorneys vary widely according to the type, size, and location of their employer. Lawyers who own their own practices usually earn less than those who are partners in law firms. Lawyers starting their own practice may need to work part time in other occupations to supplement their income until their practice is well established.

"Where there's a will, there's a lawyer"

- Robert Elliott

In May 2008, the median annual wages of all wage-and-salaried lawyers were $110,590. The middle half of the occupation earned between $74,980 and $163,320. Median annual wages in the industries employing the largest numbers of lawyers in May 2008 were:

Management of companies and enterprises $145,770
Federal Executive Branch 126,080
Legal services 116,550
Local government 82,590
State government 78,540

"A countryman between 2 Lawyers, is like a fish between two cats."

- Benjamin Franklin