How do lawyers get paid.

Dear student, Most lawyers are likely employees, either of law firms or of corporations (in-house Lawyers). These will be paid a salary, like any other employee. Beyond that, partners in a law firm are generally divided into two categories, salaried partners and equity partners. The former usually have more certainty over their income (they receive a fixed share of the firms income or profits as a salary), but have a greater say in/ responsibility for the running of the firm than employees. The latter are effectively the owners of the firm, having a share of the equity. They generally have the most control over how the firm is run, and draw their income from the profits the firm makes. If the firm isn't profitable, they don't get paid. Some lawyers also work individually, these will either be as sole traders, I. e. self-employed status, or perhaps they will incorporate a limited company in which they own all the shares. In this scenario, the former eat what they kill, so everything they earn is theirs, whilst the latter will need to draw a salary and/or dividends from the company. If you are considering law school, you are taking the initial step toward a potentially rewarding career in the legal profession. A legal education can be one of the most challenging and fulfilling endeavours an individual will pursue in their lifetime. There are many potential reasons on why one may choose to attend law school. Learning the skills of a lawyer and then using them in practice is the most common reason. There are multiple universities from where you can do 5-year LL.B. Like IILM University Gurugram offers BBA LL.B. &amp; B.A. LL.B. &amp; LL. M. with Moot Court Internship, Seminar, Workshops, Experiential Learning along with Inter-Disciplinary Curriculum. For more details visit their website : <a rel="nofollow" target="_blank" href="https://iilm.edu.in/law-admissions" style='word-wrap:break-word;'>https://iilm.edu.in/law-admissions</a>.

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