Seeing lawyers in movies and TV shows sure looks fun and all, but do you have any idea exactly how much money a personal injury lawyer makes? Or what type of lifestyle a Personal Injury Lawyer can afford?
You might be wondering whether they are rich-rich, or just normal people like us. You might be wondering whether they have a luxurious lifestyle or are pretty regular. I will answer all your questions in this post.
Whether you are willing to become a Personal Injury Lawyer in California to help people get through their miserable life struggles or are just curious about their lifestyle, learning how much a reputable personal injury attorney makes is the first way to go about it.
How many types of Personal Injury Lawyers are there?
Personal injury can occur to your body or mind, and all injury cases involve two things, liability and damages. That means if someone punches you and breaks your nose, you can ask for a personal injury claim from that liable person. And in that case, a personal injury lawyer can help you. However, only physical assaults and intentional hits are not the only types of personal injuries. Causing someone emotional distress is illegal, too. Therefore as you can see, personal injury is not a small field, and depending on the depth of the situation, a lawyer can earn more than the other types of attorney.
While trying to find out what type of lifestyle a Personal Injury Lawyer can afford, you need to know the type of job they are involved in. Here are some of the categories of cases PI attorneys handle for various types of income ranges.
- Defective products
- Hospital abuse
- Insurance
- Brain injuries
- Animal bite injuries
- Burn cases
- Accidents
- Wrongful deaths
- Drowning accidents
- Pedestrian accidents
- Vehicle accidents
These are just some of the examples where lawyers can involve themselves in making money, but the whole field is very complicated. Accordingly, the lawyers can charge a negotiable amount from their clients based on the complicacy of the case.
Things you can afford while being a PI Attorney in Los Angeles
When you are a personal injury lawyer, you can expect to make at least $70,000 per year. Which means you can afford these things monthly to live a successful and luxurious life-
- Full body spa every week!
- A nice big flat TV with Netflix and any subscription of your choice!
- A big house that might resemble Kendall Jenner’s (you can do that, of course, with a few years of saving if you are determined enough).
- Excellent education for your children.
- And maybe multiple wives!
$70,000 per year is what average PI lawyers make, and if you can reach more clients per month, you can obviously make a larger amount than that. The average hourly wage of most of the personal injury attorneys in Los Angeles is around $62. As a PI lawyer, you will have to work on contingency, and based on your skills and results; you will collect a percentage from your clients.
Here is the percentage you can earn for winning Personal Injury Cases as a PIA
In Los Angeles, the parties decide what percentage a lawyer can charge based on the lawsuit. All lawyers charge a percentage of a contingency fee. They charge at least 33.33% gross for the personal injury situation before filing for a lawsuit. But if the lawyer files for a lawsuit, that gross amount will increase by 40%. If there are trials and punitive damages involved, the lawyers will charge up to 50% of the case.
The type of lifestyle a PIA can afford depends on the money he or she is making. They can go up to $200,000 per year if the cases are frequent and live a financially secure life. But they can also earn under various circumstances and conditions. To earn that much money, of course, the professional needs to go in various ways to secure the depth of their profession. The lawyer needs to be confident in himself as well as improve his skills every day. You can choose to be a PI lawyer and become wealthy or earn nothing at all. All depends on how you view the market.
