Let's face it , if you went to a Harvard Profesor in their MBA program and said " hey I got this business model for you ; we're going to take cases on a contingency basis , we're going to wait 2-4 years to get our money if we win, we're going to front all expenses and operating costs and if we lose we not only don't get paid, but we lose all expenses that were outlayed. If you asked him if this is a good business model, he'd tell you your crazy. Can't work!
Well I just defined a plaintiff's lawyer's business model for you. Yet despite all the tort reform, anti-lawyer sentiment, the credit crisis , carrier's recalcitrance and a business model that shouldn't work, thousands and thousands of attorneys still practice in the field of personal injury law. The top echelon attorneys are making seven figures. The very fortunate $500k to a million. A large number are making 200k to 400k. Unfortunately, many aren't making it.
But despite all the complaints, there is still plenty of lucrative work out there. But let's be honest; The business is a grind and you work and fight for almost every dollar. Clients are usually no picnic either.
There usually is one consolation at the end of the long hard road towards settlement. When you settle, you're going to get paid!
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