Top 5 Factors That Effect Paralegal Salaries

There are so many variables involved in paralegal salaries that it’s almost impossible to pin down an exact range. The median starting salary is currently in the area of $43,000 a year but that’s just an average. Choose a paralegal career because you saw someone on TV who makes $100,000 a year and you’re probably going to be disappointed, at least in the beginning. Here are the top 5 factors that affect your paralegal salary to show you why there’s such a wide variance.

Geographical location

In most cases, a paralegal working for a large firm in New York City is going to make a lot more money that someone working for the same size firm in a small town in the Midwest. New York has a higher cost of living than almost any other city in the country. People who live and work there just naturally make more money.

Education

Obviously, someone with a higher level of education is able to command a higher salary. To increase your earning potential, consider continuing your education. Learn some new skills like how to use some of the specialized computer programs or how to create PowerPoint presentations.

Specialization

Yes, there are paralegals out there earning 6 figures or more per year. They live in areas that can support those salaries, they have the education needed to get those jobs, and they generally specialize, either in certain skills or certain types of law.

Experience

Of course you’re not going to earn those high paralegal salaries right out of college. But the more experience you have, the better your earning potential. And the more time you spend in your chosen field, the higher your salary will be. Be careful here. Don’t confuse experience with education. There are some things you have to learn from books. And there are other things you can only learn on the job.

Reputation of the firm

The reputation of the firm you work for will also have a lot to do with your earnings. Again, there are a lot of variables, but there are dozens of law firms with offices all over the world. Those offices may not be located in cities where high salaries are typically paid, but the associates earn those salaries because of the firm they work for, not the actual location of the office.

A 6-figure paralegal salary like you see on the TV shows is possible and it’s out there. You may have to change firms a few times or you might even have to relocate. The best thing you can do is make sure you have a good quality education under your belt and then just start researching all the various opportunities to see what you need to do to move to the next level.

Are You Managing Your Own Career Properly?

When it comes to managing a career, there are many things to consider. Managing your own career is not as simple as it may seem. Getting just the right job may take time but it may also mean using some tools that you may not have considered before. This can be a lifelong process that includes setting goals and creating strategies.

Many people end up settling for a steady job even if they do not particularly enjoy it. They feel that is all that they will be able to get. Quite frankly, change can be scary and in these economic times it just doesn’t make sense to change careers if you already have a good paying job. The fact is, though, many people are unhappy with their current positions and would love to have a different career. Having a plan and the courage to follow that plan is what successful people begin with.

Including short and long term goals is imperative. Many times you need to get experience before you can get the career you desire. Your short term goal may be a lower paying job, for example, and your long term goal may be a higher paying job with much more responsibility.

It may be difficult to manage your own career path. This is why you may want to contact a fixed fee recruitment agency. They have all of the tools necessary to help you earn as much money as you can. Plus, they have knowledge about your particular industry that you may not have.

A fixed fee recruitment agency may be the wisest choice because you know upfront exactly how much money their services will cost you. There will be no surprises. Other types of agencies will charge you for each lead and that can really add up in the long run.

Many of these agencies can also train you in different interview techniques, as well, so that you will be more prepared when you do get interview opportunities. Once you know what responses are well received to popular interview questions you will give off a better first impression.

Also, a fixed fee recruitment agency works well with recruiters so they have inside knowledge that you may not have. They may know about jobs that are coming up before they are advertised. This will give you an edge that other people in your industry will not have.

When managing your career be sure to get realistic goals set so that you can be successful. In your personal life it is a good idea to de-stress and de-clutter so you can work as many hours are necessary. Any good recruitment agency will recommend this.

Overall, having a clear career path can lead to a very successful future. Using all the tools that are available to you will ensure a good job down the road. Patience is essential but if you are determined and work with a good agency, you should find yourself with not only a good job but a good career.