- Several key factors influence paralegal salaries. Earnings depend on education and training, work experience, type and size of the employer and the geographic location of the job. Individuals with college degrees in paralegal studies and other related credentials generally make more money. Likewise, paralegals working at big law firms in major urban centers usually command larger salaries than those at small law offices in less populated regions. In addition, paralegal job availability and salaries may be affected by the overall economy and the business cycle. For instance, demand for discretionary legal services such as estate planning tends to dwindle during a recession, whereas a recession would actually stimulate demand for legal assistance regarding bankruptcies and foreclosures.
- The U.S. Bureau of Labor Statistics reported that as of May 2008 the average yearly salary for paralegal assistants was approximately $48,000. Figures from the 2010-11 Edition of the U.S. Department of Labor's Occupational Outlook Handbook show that the majority of paralegals have salaries in the range of $36,000 to $59,000.
- The top 10 percent of paralegals bring in more than $73,000 in annual salary, according to the U.S. Department of Labor. These high-end salaries typically apply to veteran legal assistants with many years of experience working at large law firms in prominent metropolitan areas.
- The U.S. Department of Labor also provides stats that indicate that the bottom 10 percent of paralegals make less than $29,000 in yearly wages. Individuals working for small independent law offices with limited budgets often earn more modest salaries. Similarly, those that work in rural settings with a lower cost of living generally pull in less income. The same can be said for new entrants with minimal credentials and work experience.
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