What does a corporate paralegal do?
Corporate paralegals help lawyers with a variety of corporate issues such as employee contracts, stock-option plans, shareholder agreements, and employee benefits plans. They help prepare the necessary documents that are required to comply with local, state, and federal regulations in the management of business tasks. They assist with the preparation and filing of annual financial reports. They also prepare forms for loans and maintain a variety of other documents. Corporate paralegals are often responsible for monitoring and assessing government regulations to make sure the corporate is aware of new laws and regulations.
What kind of training does a corporate paralegal need?
Corporate paralegals typically need some type of specialize training in law, paralegal studies, or other related field. Many community colleges, vocational and technical schools, and universities offer a variety of programs that range from diplomas to postgraduate degrees. Most corporate paralegals have at least an associate degree in paralegal studies. Prospective corporate paralegals often complete courses in corporate law, legal terminology, legal procedures, and legal research. Many aspiring corporate paralegals complete internships at corporate law firms or corporate legal departments to gain practical experience. Some employers provide some on the job training to enable new corporate paralegals to learn the necessary policies and procedures. Corporate paralegals typically complete continuing education to keep their skills up to date and stay abreast in advancements and changes in corporate law.
What are the prospects for a career as a corporate paralegal?
Employment of corporate paralegals is expected to grow must faster than average for all professions, increasing 28% from 2008 to 2018 (1). The increase in corporations hiring corporate paralegals instead of lawyers to reduce costs will drive job growth.
Job prospects are expected to be good with keen competition. Corporate paralegals with advanced education and extensive experience will have the best job opportunities. Many job openings will arise from the need to replace corporate paralegals that retire, transfer, or leave the field for other reasons.
How much do corporate paralegals make?
As of January 2010, corporate paralegals with less than 1 year experience earn average annual salaries between $33,935 and $42,000. Those with 1 to 4 years experience earn average annual salaries between $38,828 and $51,815 (2).
A career as a corporate paralegal is an excellent choice for individuals with a strong interest in corporate law. Corporate paralegals must have a solid understanding of the policies and procedures of corporate law and have the ability to perform a variety of tasks. Patience, detail orientation, critical thinking, and good problem solving skills are necessary characteristics. Corporate paralegals must have excellent communication and interpersonal skills to be able to effectively interact with a variety of clients and professionals.