Yahoo Finance Cutting-Edge Careers Attract New Law Grads
After graduating with a Bachelor of Science in physics from Harvey Mudd College, Brendan Haberle worked on plasma research at the Los Alamos National Laboratory in New Mexico. But "doing basic science as a laboratory researcher just wasn't a good fit for me," says Haberle, who wanted to work in a range of scientific areas, not just one.
After stints in consulting and developing intelligence systems for the U.S. Army, Haberle did some research and realized the fast-growing sector of intellectual property law offered the varied exposure to science and technology that he sought.
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He headed to the University of Arizona's James E. Rogers College of Law and graduated in 2015. Hired as an IP attorney at a local Tucson , Arizona, firm, he assisted startups innovating in fields ranging from biotechnology to medical devices.
Haberle relished his clients' "energy, optimism and vibrancy," but as soon as a company took off, he says, the entrepreneurs moved to a larger firm that "could help them get to the next level." So a year later, Haberle joined the national full-service firm of Dinsmore & Shohl LLP in San Diego, which had a strong IP practice along with the expertise in disciplines like tax and securities law needed to help startups grow.
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A technical background and "the ability and desire to remain immersed in new technology" are essential for IP attorneys, says Haberle, 34, who continues to focus on biotechnology as well as the optics, electronics, automotive and other sectors.
He engages extensively with clients to understand the technology behind each innovation, the "space" it will operate in, and the kinds of patent, copyright, trademark and other IP protections it will need, particularly if it's multiuse -- for example, an optical device that has both medical and industrial applications.
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The rapid pace of innovation is helping drive the need for IP attorneys. The U.S. Patent and Trademark Office reported that more than twice as many patents were granted in 2015 as a decade ago.
Last year, roughly 15 percent of all jobs placed by BCG Attorney Search, one of the country's largest legal recruiting firms, were in intellectual property. While salaries vary widely across sectors, median annual pay for entry-level IP attorneys typically ranges from about $125,000 to $148,000Make sure these averages cut across public and private sectors. from salary, according to salary.com.
Here are a few other areas of law prospective students should check out.
-- Estate planning or elder law attorney: As more baby boomers retire, more lawyers are needed to advise clients on estate planning, probate administration and asset protection. Kaplan Test Prep's Law School Insider rates the practice, which also includes health care and family law, among the top-10 fastest-growing legal sectors. Average salary for associates is $82,000 .
-- Civil litigation lawyer: For 2016, staffing agency Robert Half Legal reported that up to a third of lawyers surveyed said that civil litigation would create the most law jobs. Legal news site Law360 attributes the growth to an increase in securities and class-action lawsuits, antitrust litigation by the Department of Justice and patent litigation, among other factors. According to payscale.com, the median salary for civil litigators is $90,647 per year.
-- Real estate lawyer: A booming housing market is spurring the need for real estate attorneys. Robert Half Legal estimates that real estate law firms, which navigate state and local zoning laws and negotiate contracts between buyers and sellers, will create 6 percent of new legal jobs over the next two years. These attorneys can expect to earn between about $117,000 and $150,000 annually, according to salary.com.
This story is excerpted from the U.S. News "Best Graduate Schools 2018" guidebook, which features in-depth articles, rankings and data.
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