In the bar profession,Non-litigators and litigatorsare two different directions. Which direction you choose depends on your interests, goals, and market needs. Here's an analysis of the pros and cons of non-litigators and litigators to help you decide.
Non-litigation lawyers
Non-litigation lawyers mainly provideIPO listing, bond issuance, mergers and acquisitions, investment and financing, cross-border transactions, bankruptcy and restructuring and other legal services。When this type of lawyer practices in a red circle boutique firm, he or she is more likely to have access to high-end business, which allows them to grow quickly and earn high remuneration. In particular, the bankruptcy and reorganization business of listed companies, with its remuneration of tens of millions or even nearly 100 million yuan, has become the most popular business area at present.
It is not uncommon for non-litigation lawyers to have an annual income of more than one million yuan for salaried partners in red circle firms, and tens of millions of dollars for equity partners. However, due to the global economic downturn in the past two years, the volume of non-litigation business of many red circle boutique firms has shrunk severely, and layoffs, salary cuts, and suspension of year-end bonuses are very common.
Litigation lawyers
Litigation lawyers mainly attend court hearings and arbitration tribunals, and finally resolve disputes for clients through judicial decisions. The litigation business is divided into three categories: civil and commercial, criminal and administrative, and there are subdivisions of professional fields under each category. For civil and commercial litigation business, lawyers often adopt the charging model of basic work fee in the early stage + risk fee in the later stage, so if the case with a large amount of money is won, the lawyer will charge a high remuneration, and it is not uncommon for a lawyer fee of one million.
Generally speaking, litigation lawyers are accumulating experience in the first five years of practice, and for the handling of some complex cases, they need the guidance and leadership of professional partners and superior lawyers. With the accumulation of work experience and the trust of clients, litigators who have been practicing for more than five years will continue to develop their own ideasCase source, there will be a qualitative leap in income.
All in all,Non-litigation lawyersRevenue is closely related to the development of the law firm's platform and economyLitigation lawyersThe income depends on the later stageCase sourcePioneering and customer acceptance. However, excellent professional ability and work experience are required for both, so you don't need to be too anxious, with the development of time and the accumulation of experience, I believe that you can become an elite lawyer with an annual salary of one million.
There are many different paths in the legal profession, each with its own unique strengths and challenges. When choosing a non-litigator and litigator, consider your interests, goals, and market needs. No matter which direction you choose, you need to keep learning and accumulating experience to improve your professional ability. Good luck in your career as a lawyer!