Security litigation is one of the most prolific sectors of the law when the financial outcome is in question. Therefore, a good security litigation attorney earns more than a decent amount compared to the lawyers practicing in other fields of law.
So, if you want to get into the law business for the financial credits, then a security litigation attorney salary might be appealing to you.
What Is Security Litigation?
Security litigation is a sector of specialized practice that involves the application and involvement of complicated security laws and the implementation of the said laws. The cases involving security litigation are very sensitive by nature and can have high stakes.
Security litigation falls under the civil law department that deals with lawsuits and settlements of business disputes. It ranges from claims of stolen property in business, settling debts, or personal disputes between partners to governmental and multi-governmental cases.
No matter the cause, if a lawsuit or settlement falls under the regulation of security litigation, then a security litigation attorney is called upon to look into the matter and help clients get a favorable conclusion regarding their case.
As high stakes are involved in security litigation lawsuits and settlements, the attorneys earn a good salary from their firms or directly from the clients. The payments of a top-rated security litigation attorney are considered one of the high-paying salaries among civil attorneys.
Salary of a Security Litigation Attorney
If we want to get straight into the point, then the average amount that a security litigation attorney earns in a year ranges from 114,000 USD to 159,000 USD. Keep in mind that this is the gross amount; not every security litigation attorney makes this amount of money in a year.
A significant amount of this earning depends on the number of cases an attorney gets yearly or how successful they were on their cases. If they are a part of the firm, then they will earn a bonus along with their salary.
The attorneys at the top of their game in the security litigation sector can earn a yearly of 250,000 USD to 500,000 USD. But this is the salary range of the top 1%.
But, freshly graduated lawyers who want to practice security litigation face quite a low range of salary. If they are hired by a private firm with over 500 employees, their yearly earnings will range from 100,000 USD to 160,000 USD.
If that’s not the case and they want to be a solo practitioner, then the situation will highly depend on the influx of their clients. Most of the time, going solo without proper recognition in this field results in career-ending situations.
How Security Litigation Attorneys Earn Money
Security litigation attorneys earn money in two different ways. They opt for either contingency payment or payment per hour method.
A contingency payment is a payment method where the client will only pay the attorney or firm if they receive a favorable result.
The attorney and the client will sit down and settle on favorable terms. Once a consensus is reached, the attorney will start to defend the client.
The other option is the payment per hour, and as the name suggests, the client pays the attorney for hours they spent on the client’s case. The charges and what sort of work is counted as hourly work depends on the attorney and their firm’s regulations on this matter.
In some cases, security litigation attorneys charge a flat rate if the case is predictable or involves an open and shut aspect. This sort of scenario only happens for solo attorneys. Most of the time firms don’t pick this method of payment.
Final Thoughts
A security litigation attorney’s salary can be very high depending on how the attorney performs in the field. As it involves cases with high stakes, the payment is also higher.
So, if you plan on picking this field to practice, then without any doubt, you can rest assured in the financial department because you will earn an outstanding amount if you can be successful in this field.
