Seven Important Facts That You Should Know About Law Firm Businesses


Despite the fact that law firms are known to be some of the most successful businesses in America, they also have a reputation for being cutthroat and unappealing. There are tons of stories about how bad law firms work, and more importantly, how good people just can’t get through. However, with this reputation comes an opportunity for you!

The following are 7 important facts that you should know if you’re considering a career in the field of law. I’ve worked with tons of different law firms over the years, including my own personal experience as an employee for my father’s law firm in Illinois. I know what it takes to make it as an employee of the biggest firms, but I’ve also experienced the disappointment of not being able to get through to be hired by those firms.

1. Law firms are not all the same

In my experience, I’ve seen a tremendous difference in how law firms treat their employees. For example, we have firms that give you a great deal of responsibility and freedom over your own time and day-to-day life. Then, there are other firms that demand that you work long hours with little to no personal freedom. If you know this ahead of time, then it can help you decide if the type of firm is right for you.

Many law firms are breaking out of the stereotype, due to a change in market-demand. If you’re looking into applying for a job with a law firm, instead of just applying to the biggest and most well-known – think about whether or not you would like to work in that environment.

2. Law firms are not all about the money

If you’re just getting into the job market and looking for something well-paying and high-class, then a law firm might be perfect for you. In general, law firms pay their employees much more than an average position in most industries (especially when you manage to get into a top firm). 

However, if money is all that matters to you – then it’s not worth it. There are plenty of jobs out there that pay a lot more than law firms – but at least with a law firm you can save your money and potentially retire early if your salary is high enough.

3. Law firms are not all about prestige

Most law firms are private – meaning you will learn the secret world that most people never see. You will learn about different laws, case-files, politics, and more that you can use to help others if you ever decide to make a career of it.

 Many law firms are very prestigious in their own right – but this isn’t something that everyone is willing to work for. If you have no interest in working for a firm with high-prestige because it wouldn’t be worth your time, then think carefully before applying to a firm with low prestige.

4. Law firms can take a long time to get into

If you’re looking for a job and hoping to find something high-paying, then applying for a job at a law firm or working at one for yourself might be a great choice. However, if you want to work in this field, you will have to wait. 

Most law firms – especially the best ones – are very selective about who they choose as employees. They want the best of the best, which is often why many people who apply aren’t able to get jobs with the biggest and most prestigious firms.

If you’re looking for a law firm that’s right for you, choose wisely – and don’t be afraid to apply even if you don’t think that it’s exactly right for you. If you want to work in a field that might be the most exciting thing in the world to some people, but not something that interests you – then make sure to take the time and not rush through applying.

5. Law firms are not all about money

Law firms don’t care about money as much on average as most other professions or businesses do. In fact, most of them will take on any amount of students if they have room. They know that the people who are at the very top of their game will have to have different things than someone who is a little bit less experienced. Therefore, they hire you without expecting you to work every single day from 8am-6pm at minimum wage with no chance for a raise.

6. Law firms are not all about prestige, but it can help you earn more

While I’ve stated that it doesn’t matter as much if you work for a firm with high prestige – this can actually affect your paycheck more than anything else. The case is the same if you’re working for yourself and starting a firm of your own. The more prestigious the law firm or business, the more people will be willing to pay you.

 However, it’s not because they know that there are higher quality employees – but because they simply have a better reputation. Whenever someone is shopping for a new car, house and lawyer – the reputation of the business can mean everything when it comes to their final decision.

7. Law firms are dangerous

If you’re working at a law firm as an employee, you could easily get sued if you do your job poorly enough, or if there’s something about your career choices that makes things risky for your employer or boss.


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