What is the outlook for paralegal jobs?

For many years,   paralegal work has been recognized as one of the fastest growing areas of professional employment.  Salaries have consistently risen over the past decade. In 2007, the last year for which data is available, paralegals earned an average income of $52,000 in the United States, according to Legal Assistant Today which conducts an annual survey of paralegal salaries.    Keep in mind this is an average; compensation ranged from about $23,000 for a freshly minted paralegal working in a rural law office in Iowa to more than $150,ooo salary for a senior paralegal working in a prestigious Manhattan law firm.  When considering paralegal employment, keep in mind that many, if not most, law firms offer excellent benefit packages in addition to salary, and working conditions are often very pleasant compared to “typical” office jobs.  The work environment in a law firm may be challenging; the paralegal profession is not for the weak of heart.

The Department of Labor continues to report that the demand for paralegals is great.  The paralegal profession is expected to grow faster than most other professions over the next decade with demand by law firms and corporations for trained, certified paralegals continues to grow.

What has become increasingly clear is that a paralegal in the 21st century needs to be certified by an institution with regional accreditation.  Anything less may be not sufficient in today’s increasingly competitive job market.  With many online paralegal schools offering certificates, it is more important than ever to choose a school that is regionally accredited.

Despite projected rapid employment growth, competition for jobs is expected to continue as many people seek to go into this profession; experienced, formally trained paralegals should have the best employment opportunities.  A certificate from a regionally-accredited school is the best credential a paralegal can have today.

According to the Bureau of Labor Statistics, paralegals entering the job market in the 21st century will have the best chances of success if they obtain certification from a regionally accredited institution.   There are seven regional accrediting agencies in the United States:  Middle States Commision on Higher Education, Middle States Assocation of Colleges and Schools, New England Association of Schools and Colleges,  The Higher Learning Commission, Northwest Commission, Southern Association of Colleges and Universities,  and Western Association of Schools and Colleges.  According to Bertram Kennehan, Esq., Director of  Paralegal Employment for King and Spalding,

Employment change. Employment of paralegals and legal assistants is projected to grow 22 percent between 2006 and 2016, much faster than the average for all occupations. Employers are trying to reduce costs and increase the availability and efficiency of legal services by hiring paralegals to perform tasks once done by lawyers. Paralegals are performing a wider variety of duties, making them more useful to businesses.

Demand for paralegals also is expected to grow as an expanding population increasingly requires legal services, especially in areas such as intellectual property, health care, international law, elder issues, criminal law, and environmental law. The growth of prepaid legal plans also should contribute to the demand for legal services.

Private law firms will continue to be the largest employers of paralegals, but a growing array of other organizations, such as corporate legal departments, insurance companies, real estate and title insurance firms, and banks also hire paralegals. Corporations in particular are expected to increase their in-house legal departments to cut costs. In part because of the range of tasks they can perform, paralegals are also increasingly employed in small and medium-size establishments of all types.

Job prospects. In addition to new jobs created by employment growth, more job openings will arise as people leave the occupation. There will be demand for paralegals who specialize in areas such as real estate, bankruptcy, medical malpractice, and product liability. Community legal service programs, which provide assistance to the poor, elderly, minorities, and middle-income families, will employ additional paralegals to minimize expenses and serve the most people. Job opportunities also are expected in Federal, State, and local government agencies, consumer organizations, and the courts. However, this occupation attracts many applicants, creating competition for jobs. Experienced, formally trained paralegals should have the best job prospects.

What is job outlook now, given the recent recession?  To a limited extent, paralegal jobs are affected by the business cycle. During recessions, demand declines for some discretionary legal services, such as planning estates, drafting wills, and handling real estate transactions. Corporations are less inclined to initiate certain types of litigation when falling sales and profits lead to fiscal belt tightening. As a result, full-time paralegals employed in offices adversely affected by a recession may be laid off or have their work hours reduced. However, during recessions, corporations and individuals are more likely to face problems that require legal assistance, such as bankruptcies, foreclosures, and divorces. Paralegals, who provide many of the same legal services as lawyers at a lower cost, tend to fare relatively better in difficult economic conditions.

Posted November 22nd, 2009 into category "Online School"".