The legal industry has a reputation of being a high-paying field, but what if you don’t work as a lawyer? By earning your masters in legal studies, you’ll be better equipped to understand laws in your specific field, but will you make a higher salary? Let’s look at the average salary you can expect to earn if you go back to school to get this kind of advanced degree.
Salary by Position
The number one factor that effect the salary you’ll earn after you graduate with a masters in legal studies is the position you take. Typically, if you earn this type of degree, you don’t work in a strictly law-based career, but rather in a career where the law matters, such as healthcare, real estate, or commerce. You can also earn this type of degree if you have aspirations of working in a law-related position, but do not want to become a lawyer. For example, as a paralegal, you can expect to earn an average of $43,040 and up to around $70,000 if you work for a larger law firm and gain experience in the field. You could also work as a legal advocate, where you can expect to earn an average of $44.02 per hour or an investigator, where you can expect to earn an average annual salary of $41,760.
Certain industries are exploding right now, and workers with a strong knowledge of the law are needed to fill positions. By working in one of these industries where employers with advanced degrees are in high demand, you can expect to make a higher salary. The environmental industries, for example, is hot right now, so you may want to consider a bachelor’s degree in environmental policy or a related field and then go on to get your masters of legal studies and take as many environmental-related classes as possible. The tech industry and healthcare industry are also fields where workers who know the law are in extremely high demand.
Salary by Location
If you’re interested in making more money as someone who has a masters in legal studies, location is important. You’ll make more money if you work and live in a larger city, with places like New York and Washington D.C. being hot spots for those with this kind of expertise. Certain industries are also based in certain states, so you can make more money if you move to one of these high-need areas.