Corporate paralegals often assist attorneys with employee contracts, shareholder agreements, stock-option plans, and employee benefit plans. They also may help prepare and file annual financial reports, maintain corporate minutes’ record resolutions, and prepare forms to secure loans for the corporation. Corporate paralegals often monitor and review government regulations to ensure that the corporation is aware of new requirements and is operating within the law. Increasingly, experienced corporate paralegals or paralegal managers are assuming additional supervisory responsibilities such as overseeing team projects.

Employment Situation

Employment of corporate paralegals is projected to grow 22 percent between 2006 and 2016, much faster than the average. 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.

Corporate legal departments will increase their hiring of corporate paralegals. Insurance companies, real estate and title insurance firms, and banks also hire paralegals. Corporations are expected to increase their in-house legal departments to cut costs. Because they can perform a wide range of tasks, paralegals are also increasingly employed in small and medium-size establishments of all types.

Education Outlook

Most employers do not require certification, but earning a voluntary certification from a professional society may offer advantages in the labor market. The National Association of Legal Assistants (NALA) has established standards for certification requiring various combinations of education and experience. Paralegals who meet these standards are eligible to take a two-day exam. Those who pass may use the Certified Legal Assistant (CLA) or Certified Paralegal (CP) credential. NALA also offers the Advanced Paralegal Certification for experienced paralegals who want to specialize. The Advanced Paralegal Certification program is a curriculum based program offered on the Internet.

The American Alliance of Paralegals, Inc. offers the American Alliance Certified Paralegal (AACP) credential, a voluntary certification program. Paralegals seeking the AACP certification must possess at least five years of paralegal experience and meet one of the three educational criteria. Certification must be renewed every two years, including the completion 18 hours of continuing education.

Salary Expectations for Corporate Paralegals

Salaries for corporate paralegals depend on education, training, experience, the type and size of employer, and the geographic location of the job. Paralegals who work for large law firms or in large metropolitan areas earn more than those who work for smaller firms or in less populated regions.

In May 2006, full-time corporate paralegals at corporations received a median annual salary of $52,220.

Related Information

• Find all advertised Corporate Paralegal jobs.
• Find a Paralegal school near you.
• Find an online legal school or legal degree.

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