Going into law isn’t going out of style. Law ranks among the top five career options for students1 and is one of the most popular degree courses at undergraduate level.2What explains its persistent appeal? While people go into law for a number of reasons,3 many are motivated to make a difference through public interest and pro bono work.4
Law is also one of the highest paying professions, however, so working directly on social justice issues isn’t the only way you can do good as a lawyer. If you enjoy commercial work and can secure a place at a high-paying firm, you can also have an impact by donating some of your earnings to charity. We call this earning to give.
If you target your donations to highly effective charities, this could be just as high-impact as public interest law. Newly qualified lawyers at top-ranked firms can expect to earn upwards of £70,000. Donating 10% of this take-home pay5 would be enough to save somebody’s life by buying anti-malaria bednets.6 If you are one of the approximately 5% who makes partner, you could earn over £1m each year – enough to fund a whole team of researchers, advocates or non-profit entrepreneurs.
In this profile, we explore the pros and cons of law for earning to give. We focus on high-end commercial law – where the money is – and hope to discuss public interest law in a separate review. It’s based on the legal training and experience of the primary author of this profile, Natalie Cargill, as well as conversations with lawyers from a range of practice areas. We’ve also drawn on academic literature, surveys by the Law Society, and publicly-available salary data.