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The differences between legal consultants and bankruptcy specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a legal consultant and a bankruptcy specialist. Additionally, a legal consultant has an average salary of $75,024, which is higher than the $35,498 average annual salary of a bankruptcy specialist.
The top three skills for a legal consultant include litigation, regulatory compliance and legal research. The most important skills for a bankruptcy specialist are relief, pacer, and foreclosure.
| Legal Consultant | Bankruptcy Specialist | |
| Yearly salary | $75,024 | $35,498 |
| Hourly rate | $36.07 | $17.07 |
| Growth rate | 10% | 10% |
| Number of jobs | 16,118 | 4,381 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 46% | Bachelor's Degree, 50% |
| Average age | 46 | 46 |
| Years of experience | 4 | 4 |
A legal consultant uses legal practice knowledge to enhance a law company's efficiency and profitability. Besides advising on the right solutions for customer productivity, marketing and development strategies, legal consultants also actively manage risks by consulting on program and legal-related issues. They help the parent law firm meet its objectives by analyzing problems and developing solutions. Other than negotiating, drafting, and reviewing legal documents, legal consultants also conduct legal research and analyze the right securities, insurance, and retirement plans.
The bankruptcy specialist is responsible for filing and documentation loan bankruptcy materials with the appropriate attorneys. They ensure full compliance with loan bankruptcy regulations and monitor accounts throughout the loan bankruptcy process to contact the appropriate party when necessary. A bankruptcy specialist might be an administrator or lawyer in a bankruptcy office and supports bankruptcy law. They are likely to evaluate state declaration and affidavits for legal progression, interact with customers and outside counsel about bankruptcy proceedings through written and verbal communication, and work with local counsel and upper management in effectively reviewing client's files.
Legal consultants and bankruptcy specialists have different pay scales, as shown below.
| Legal Consultant | Bankruptcy Specialist | |
| Average salary | $75,024 | $35,498 |
| Salary range | Between $40,000 And $139,000 | Between $27,000 And $46,000 |
| Highest paying City | Washington, DC | Norfolk, VA |
| Highest paying state | New York | California |
| Best paying company | Alston & Bird | The PNC Financial Services Group |
| Best paying industry | Professional | Finance |
There are a few differences between a legal consultant and a bankruptcy specialist in terms of educational background:
| Legal Consultant | Bankruptcy Specialist | |
| Most common degree | Bachelor's Degree, 46% | Bachelor's Degree, 50% |
| Most common major | Law | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between legal consultants' and bankruptcy specialists' demographics:
| Legal Consultant | Bankruptcy Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 49.0% Female, 51.0% | Male, 31.0% Female, 69.0% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 7.8% Asian, 6.4% White, 75.6% American Indian and Alaska Native, 0.3% | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 7.9% Asian, 6.5% White, 75.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 10% | 10% |