How much can you Earn as a Freelance Paralegal

Basically there are two types of freelance paralegals, those who work on their own or in a loose association with a few other freelance paralegals, and those who run full-fledged paralegal services, with business addresses, advertising and a staff of employees. The first type of freelance paralegal, truly freelancers, are sometimes called independent contractors, a name for one individual who bills for his or her services but is not on anyone's payroll. Independent contractors often bill attorneys on an hourly basis, but sometimes charges are rendered by the project, such as for the drafting of a will or for digesting of depositions. Often such paralegals work out of their homes, using an answering machine or service number, a centrally located post office box address and a descriptive brochure as means of presenting a professional image to their clients. These freelance paralegals work in many areas of legal practice.

Paralegal services companies may develop from freelancing. A successful freelancer may hire his or her own staff and set up a business organization, partnership or corporation. Paralegal services companies have their own office space and undertake more sophisticated marketing strategies than do individual freelancers. They usually provide services of temporary paralegals, legal research services, managing clerk services (the service of papers and filings at court) or specialized services in trusts and estates and the like. Essentially, these services are small businesses run by entrepreneurs who, if successful, must be good managers as well as knowledgeable paralegals.

Both types of freelance paralegals bill their clients depending upon how specialized and sophisticated the work is.

Now arises the question, that how much can you earn as a freelance paralegal.

It's possible to earn a huge amount if you run a paralegal services business and have many people working for you. But suppose you're an independent contractor. You will have to analyze your budget, billing rates and profitability. You'll have to allot some time for selling and conducting a marketing campaign- as much as five to ten hours per week, as well as whenever you don't have any projects. This marketing time will cut into your billing time.