Warning

Info

Corporate Lawyer

What are they and what do they do?
Tags: summer jobs, career
Apr 2, 2023

What does the term corporate lawyer actually mean?

To be honest, it is a vague term that isn’t really used by legal professionals in the same way it is by the general public. To the public it tends to mean any lawyer who wears a suit to work. 

If the term is used by an attorney it typically means one of two things. 

Either the attorney is using it colloquially to the general public in order to easily explain what they do for work because people’s eyes tend to glaze over when lawyers start talking about some complex thing they do every day. 

OR 

The attorney works nearly exclusively with corporations and practices corporate law. This might be at a private law firm, big or small, or might be as in house counsel for a corporation. A corporate lawyer is a legal expert who gives advice to businesses about their legal rights and duties. They represent the company as a whole, rather than its workers or shareholders. Companies work with corporate lawyers to make choices that follow laws and rules. Corporate law includes all legal matters related to starting, running, or owning a business. This job can be different based on the clients, who can include not just corporations, but also partnerships, limited liability companies, and business trusts.

The rest of this article goes into detail trying to explain what a corporate lawyer does, and discusses a corporate lawyer’s salary. 

What do corporate lawyers do?

Corporate lawyers help businesses follow laws and make choices based on those laws. They understand the rights of a company, review business activities, help with legal choices, and make sure business deals are legal. They may represent their clients in court or during meetings with regulators. Corporate lawyers also help start, run, and close businesses. Their job duties include:

  1. Contracts: Writing, reviewing, and making deals on legal contracts.
  2. Securities: Making sure companies follow laws about stocks and preventing fraud.
  3. Mergers and acquisitions: Helping companies merge or one company buy another.
  4. Venture capital: Helping businesses find money through financing.
  5. Corporate governance: Helping clients create ways to manage their company.

What are the requirements to become a corporate lawyer?

There aren't any special requirements above being a lawyer to become a corporate lawyer. It can help to have business experience or to have an undergrad degree that is business focused, but it isn't necessary.

To become a corporate lawyer, you need:

  1. Undergraduate degree: A bachelor's degree, that can get you into law school
  2. Juris Doctor degree: A law degree from a school approved by the American Bar Association.
  3. License: Passing a state bar exam or the Unified Bar Exam (UBE) to practice law in a state.
  4. Continuing education: Some states require ongoing education to keep a law license.

What are the top 8 skills corporate lawyers should have?

Corporate lawyers need both hard skills, like legal knowledge, and soft skills, like working with others. Examples of important skills for corporate lawyers are:

  1. Time management
  2. Problem-solving
  3. Research
  4. Analytical thinking
  5. Collaboration
  6. Persuasive communication
  7. Organization
  8. Written communication

What is work life like for corporate lawyers?

Corporate lawyers can work at law firms, government agencies, or as in-house lawyers for companies. They usually work in offices, and sometimes go to court. They may travel for their job and the typical work week can vary widely from as few as 40 hours a week to 80+ hours per week.

The work-life balance and culture that corporate lawyers face is dependent on a few factors, like the city they work in, the firm they work for, and their direct supervisor. 

What is the average corporate lawyer salary?

According to Indeed, in 2023 the average yearly salary for corporate lawyers is $132,690. 

This varies based on factors like location, experience, and employer. Extra education, like a Master of Law (LLM) degree, can also affect pay.

Corporate lawyer salaries tend to be bimodal with a long tail. This means that a lot of corporate lawyers make good money, but not a huge amount, and some corporate lawyers make a ton of money. A ton of money meaning in the hundreds of thousands or even millions of dollars per year. 

The corporate salaries that are on the high side are typically senior counsel at large corporations, or senior associates and partners at Big Law firms. 

Related Articles

  1. How Much do Lawyers Make?
  2. Is Law School Worth It?
  3. How Do I Pay For Law School?
  4. How do I apply to Law School?
Windsor MIT '22, Harvard College Advisor

I am the half of LSD that didn't take the LSAT, or go to law school (Sorry about that). But I did go to MIT business school while surrounded by law students and lawyers, so I am somewhat qualified to talk about the intricacies of law school apps and finances.

Windsor (the dog) didn't write this but he WAS a Resident Tutor and career advisor at Harvard College with me, so deserves some credit.

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
22:15
as of right now im going to penn
yay!!!! what a dream school
Pongleton
22:15
I said yay in other chat but I say it again here
congrats
Pongleton
22:15
YIPPEEEE
Pongleton
22:15
big congrats on being done <3
22:15
thanks all
22:16
im going to wait for stanford and my waitlists at HY
I just need to be sure this UT wave is over
MadeOfChocolate
22:16
Im talking about the Fordham GC. I found it on here: https://www.reddit.com/r/lawschooladmissions/comments/1b0u59f/every_discordchat_for_the_class_of_27/
22:16
but the only thing that would probably keep me from going to penn is a yale A
how is the waitlist movement lookin?
have you heard anything about it
22:17
harvard wont move until may at least
22:17
yale probably the same
22:17
those are the only two waitlists id really care anything about tbh
I meant more like what are the odds?
22:18
oh hls is 10% and yls is like 2% typically
10% is pretty good
22:18
yeah it is but i won't know until may
hey but Penn is incredible. most people couldn't even imagine getting into that school, so you can't lose either way
22:20
no yeah definitely. i think i can definitely achieve what I want through Penn. plus, i really loved the people i met at asd
Penn def seems like more of a down to earth environment. I would be concerned about feeling left out at a school like Harvard or Yale. It is so competitive (not saying UPenn isn't) but there's definitely inflated egos at schools like those. I think its important to feel comfortable wherever you go
legally-stupid
22:24
bash lmk if you hear anything
legally-stupid
22:24
people with similar stats to you are getting waitlisted so thats a good sign
im still under review
This is what I love about this community. Yall are so supportive. Thank you. Even if I don't make the cut, im grateful.
legally-stupid
22:28
i have confidence in WL movement for UT, so many people are saying they’re in but wont be considering it as a serious option
legally-stupid
22:28
and <3
To me UT is my Harvard! You hear that UT! lol
LSD+ is ad-free, with DMs, discounts, case briefs & more.