Cameron Miranda
Consulting and law are both high-profile and potentially lucrative careers with certain similarities in terms of skill sets and educational backgrounds. Lawyers are often viewed as smart and capable by consulting firms, and many lawyers are attracted to consulting due to the opportunity to be involved in proactive rather than reactive strategy. The average salary for a legal consultant in the US is around $75,000 to $93,500 per year, with the highest-paying states being New York, Illinois, and Connecticut. However, breaking into consulting from a law background can be challenging, and individuals with an MBA degree from a reputable program are often preferred by top consulting firms.
| Characteristics | Values |
|---|---|
| Average salary of a legal consultant | $75,024 - $111,861 per year |
| Highest-paying states for legal consultants | New York, Illinois, and Connecticut |
| Lowest-paying states for legal consultants | Montana, Kansas, and New Mexico |
| Highest-paying cities for legal consultants | Washington, DC, New York, NY, and Chicago, IL |
| Average salary of an entry-level legal consultant | $72,800 per year |
| Average salary of an experienced legal consultant | $132,443 per year |
| Average salary of a lawyer | $100,000+ per year |
| Average number of working hours for first- and second-year associates at big New York law firms | 60 hours per week |
| Average number of working hours for rookie lawyers at big firms | 80-90 hours per week |
| Minimum educational requirement for a management consultant | Undergraduate degree |
| Minimum educational requirement for a lawyer | Four years of college and three years of law school |
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What You'll Learn
Consulting offers a better experience at a comparable pay scale to law
Consulting also offers a more diverse workload, travel opportunities, and exposure to different industries. Lawyers are often engaged in reactive strategy work, being called in to fix problems, whereas consultants are involved in proactive strategy, setting the course for a company. Consulting firms value a commercial understanding of work and the ability to frame legal principles in a business context. Lawyers are known to have good reputations in consulting firms and are seen as smart and capable.
Transitioning from law to consulting is possible and even favoured by some consulting firms. Consulting firms recruit from top law schools, and lawyers from Harvard Law, Columbia Law, UVA School of Law, and Stanford Law often enter consulting. Consulting firms prefer candidates with reputable MBA degrees or similar qualifications, which lawyers can leverage to their advantage. However, it is important to note that breaking into consulting requires demonstrating functional expertise and a commercial understanding of the work.
In summary, consulting offers a better experience than law in terms of workload diversity, travel, and exposure to different industries. It provides a comparable pay scale with the potential for higher long-term earnings. Lawyers interested in transitioning to consulting should focus on developing functional expertise and showcaseing their work's business value.
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Lawyers have a good reputation in consulting firms
Lawyers are well-regarded in the consulting industry and are often seen as smart and capable. Their legal expertise is valuable to consulting firms, particularly in the areas of strategy and analysis. However, to transition successfully into consulting, lawyers need to develop a commercial understanding of their work and frame their legal expertise in a broader business context.
Consulting firms value the skills and knowledge that lawyers can bring to their organisations. Lawyers are trained to analyse complex information, identify key issues, and develop persuasive arguments, all of which are highly transferable to consulting work. Additionally, lawyers are often adept at building relationships, negotiating, and managing projects, which are essential skills in client-facing consulting roles.
The workload of a consultant tends to be more diverse than that of a lawyer, and consulting roles may offer more opportunities for travel and exposure to different industries. Lawyers seeking a more proactive role in setting a company's strategic direction may find consulting appealing. Consulting firms like McKinsey, Boston Consulting Group, and Bain actively recruit from top law schools, recognising the value of legal expertise in their organisations.
To enhance their employability in consulting, lawyers should focus on developing functional expertise in a specific industry, such as biotech, healthcare, or financial services. This demonstrates a commercial awareness that complements their legal knowledge. Lawyers with over two years of experience who can showcase this industry-specific expertise will be well-positioned to transition into consulting firms specialising in those sectors.
While consulting firms value legal expertise, lawyers aiming to transition into consulting should be mindful of the unique skills required in this field. They should focus on developing their business acumen, strategic thinking, and analytical capabilities to complement their legal knowledge. By combining their legal expertise with a strong commercial understanding, lawyers can successfully leverage their good reputation in the consulting industry and secure roles in top consulting firms.
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Consulting firms value business context over legal principles
Lawyers transitioning into consulting is not a new phenomenon. In fact, top consulting firms actively recruit from Harvard Law, Columbia Law, UVA School of Law, and Stanford Law. Consulting offers a comparable pay scale and a more diverse workload than a lawyer's job, along with the opportunity to be involved in proactive strategy, setting a company's course, and exposure to different industries.
However, the transition from law to consulting is not easy. Lawyers need to develop a commercial understanding of their work and learn to frame it in a business context. Consulting firms value the ability to guide clients with a deeper understanding of the strategic and commercial context. While lawyers are good at processing large amounts of data to draw compelling conclusions, they may need to develop skills in influencing, communication styles, client stakeholder and power mapping, decision facilitation, and problem-solving.
Lawyers turned consultants have the advantage of being perceived as smart and capable by their clients, who know they are hiring a seasoned attorney with industry experience. However, they may feel like outsiders if they join a consulting firm later in their careers, as consulting firms value prior experience in the industry.
Consulting firms also differ from law firms in their approach to sales. While law firms may prefer terms such as 'fee generation', consulting firms embrace the language of sales, with everyone in the practice involved in sales and delivery activities. This focus on sales and revenue generation is reflected in the route to partnership in consulting firms, which emphasizes being a great consultant and increasing revenue.
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Consulting roles require more frequent travel
Consulting roles are often associated with frequent travel, which can be a significant aspect of the job for those seeking dynamic work and adventure. While not all consulting roles require extensive travel, certain types, such as management consulting, are more likely to involve regular trips to meet clients and provide on-site support.
The nature of the consulting work and the client's needs determine the frequency of travel. For instance, long-term projects may necessitate consultants "living" at a client site for several months. In contrast, other consulting roles may be more focused on providing specific services to clients remotely or through short on-site visits. The COVID-19 pandemic has also influenced consulting, with many firms embracing remote work and virtual meetings, reducing travel requirements.
Consulting roles that involve frequent travel can be appealing to those seeking career development and new experiences. These positions often require building relationships and nurturing leads, which can be facilitated through in-person meetings and presentations. However, extensive travel can also have downsides, including stress, disrupted sleep cycles, and less family time, which should be carefully considered when choosing a career path.
Lawyers transitioning into consulting should be aware that consulting may offer a broader workload and more diverse opportunities than legal practice. Consulting firms value commercial understanding and the ability to frame legal principles in a business context. While starting pay may be lower, consulting provides a chance to learn on the job and develop strategic thinking, industry knowledge, and problem-solving skills.
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Consulting and law are both high-profile, high-income careers
Consulting offers a better experience at a comparable pay scale to law. Lawyers typically work with narrow and less diverse workloads, with little to no travel and minimal exposure to different industries. On the other hand, consultants enjoy more diverse and proactive work, greater travel opportunities, and exposure to a wider range of industries.
The starting salary for a career in law is generally higher than in consulting. At large consulting firms, undergraduates can expect to earn between $59,000 and $99,000 in their first year, while those with an MBA can earn $200,000 or more. In contrast, the national average salary for lawyers is $77,752 per year, with immigration lawyers earning slightly less at $75,297 per year, and employment lawyers earning $108,588 per year. However, it is important to note that salaries for lawyers are rising, especially for hard-to-staff positions like trial attorneys and litigation support personnel.
Legal consultants, who may or may not be lawyers, fall somewhere in between, with an average salary of $93,517 per year in the US. The salary range for legal consultants is quite wide, with entry-level positions starting at $72,800 per year and experienced consultants earning up to $132,443 per year. The highest-paying states for legal consultants are New York, Illinois, and Connecticut, while the lowest-paying states are Montana, Kansas, and New Mexico.
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Frequently asked questions
Yes, law firms can pay consultants. In fact, many lawyers transition to consulting roles.
The average salary for a legal consultant in the USA is $93,517 per year or $44.96 per hour. Entry-level positions start at $72,800 per year, while experienced workers can make up to $132,443 per year.
Consulting offers a better experience with a comparable pay scale. Lawyers often prefer being involved in proactive strategy rather than reactive strategy. Consulting also offers more diversity in workload and exposure to different industries.
While there are no hard and fast rules, most big consulting firms that pay top salaries prefer candidates with MBA degrees or similar qualifications. To increase your chances of landing a role in consulting, you should gain a commercial understanding of your work and demonstrate functional expertise in a specific area.
McKinsey hires the most lawyers for consulting roles. They are the largest top firm with the biggest global training program.
