Securities Lawyer: Job Description, Careers & Salary

There are three main branches of securities law, regulatory work, transactional work and litigation. Securities lawyers who do regulatory work may help clients deal with issues involving the Securities and Exchange Commission (SEC) regulations, the National Association of Securities Dealers, the New York Stock Exchange and other laws that protect the interests of investors. Those who do transactional work deal with the legal issues involved in mergers and acquisitions, initial public offerings (IPOs) and mutual funds. Finally, security lawyers who work in litigation handle both civil and criminal lawsuits, and enforcement actions. A securities lawyer who works exclusively in litigation can also be referred to as a securities litigator. Litigation is the act of taking legal action against a company, business, or individual who has broken the law or broken the terms of a business agreement. Securities lawyers may represent companies or investors in these types of cases.

Common Tasks

• Advising clients: As a securities lawyer, you would most likely be responsible for providing legal advice to clients like businesses or corporations. This advice may help them determine appropriate legal processes for transactions, or assist a business to 'go public.'
• Preparing documents: Securities lawyers often draft or write legal documents that are necessary for their clients business transactions.
• Litigation: If you become a securities litigator, you may engage in litigation against companies or individuals who have violated the terms of an agreement.

Securities lawyers must take the same educational steps as any other lawyer. They must first earn their bachelor's degrees and take the Law School Admission Test (LSAT) before they may begin law school. There is no specific major required for pre-law students, but courses in public speaking, English, government, philosophy, economics and history are recommended. Any courses that strengthen a student's aptitude for reading, writing, speaking, analyzing, researching and thinking logically can be helpful. In addition, those who wish to be securities lawyers specifically should take courses in accounting, finance and business. These courses may be helpful because securities lawyers need to be able to understand financial statements and the way businesses operate.

After earning their bachelor's degrees, students go on to three years of law school. The first half of their study is dedicated to core courses, such as property law, constitutional law, contracts, legal writing and civil procedure. The rest of a law student's education focuses on their area of specialization. Those studying to become securities lawyers may take courses related to business law, tax law, securities law, administrative law and corporations. Practical experience is gained through research, mock trials and part-time clerkships.

After earning their Juris Doctor (J.D.) degree, new lawyers must pass a written bar examination before they may begin practicing law. Most states require the Multistate Bar Examination (MBE). Some states require additional examinations, which may include the Multistate Essay Examination (MEE), the Multistate Performance Test, the Multistate Professional Responsibility Examination (MPRE) or a written ethics exam.

Securities lawyers often work at a law firm, which can range in size from a small or medium firm all the way up to a large law firm. They can also work for the federal government, in a division such as the U.S. Securities and Exchange Commission. Some trade associations also employ securities lawyers and securities litigators.

According to the U.S. Bureau of Labor Statistics, BLS, (www.bls.gov), lawyers in general can expect an increase as fast as the average in employment through 2029. In May of 2019, the BLS reported that professionals in the 90th percentile or higher earned $208,000 or more per year, whereas the bottom 10th percentile earned $58,220 or less per year. This range encompasses the salaries of lawyers in a variety of fields, including the average securities attorney salary, as well as the corporate and securities law salary.

Securities lawyers must go through extensive schooling and receive licensure to practice. While in college, classes in accounting, finance, and business can also help prepare them for the job. During law school, they typically enroll in relevant courses and engage in simulated trials and internships related to their area of law.