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Topic: Patent Agent Salary Surveys (Read 7936 times) |
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CaryNC
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Can anyone provide information as to current, reliable salary survey information, including geographic, for Patent Agents employed inside private law firms?
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Tricia Liu
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Re: Patent Agent Salary Surveys
« Reply #1 on: Oct 13th, 2006, 2:38pm » |
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I happen to be doing some research on becoming a patent agent. I read from multiple sources saying that in the coastal areas, patent agents command $150/hour, while patent lawyer do for $200-$300/hour.
But I do not know if it is easier to find a good job as a patent agent or patent paralegal? It is very easy for me to pass the bar exam as a patent agent due to my experience. However, if that means harder to find a job than being a senior paralegal, it's not worth the time.
Do you have any ideas?
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Isaac
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Posts: 3472
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Re: Patent Agent Salary Surveys
« Reply #2 on: Oct 13th, 2006, 3:46pm » |
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on Oct 13th, 2006, 2:38pm, Tricia Liu wrote:But I do not know if it is easier to find a good job as a patent agent or patent paralegal? It is very easy for me to pass the bar exam as a patent agent due to my experience. However, if that means harder to find a job than being a senior paralegal, it's not worth the time.
Do you have any ideas? |
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I'm not sure that the difference in difficulty in finding a job alone is the best criteria for making this decision. If the exam is easy for you, then it can be said that for a few hundred dollars and a little elbow grease you qualify for a chance at a higher paying job without disqualifying yourself for a paralegal position. Yes it is true that the chance might not pan out or that there can be some delay in when it might pan out.
One way of quantifying the decision would be to compare the cost to obtain a patent agent credential (your time plus a few hundred dollars) to your probability of landing a patent agent position multiplied by the possible increase in earnings (perhaps converted to a present value).
In your case the costs are small and the potential increase in salary appears to be significant (I don't know for sure but I'm guessing so), so that even a small chance in finding a job could justify the risk.
Example calc. 400 dollars to take the exam compared to a 5% chance of obtaining 10k more in salary? Using my formula, the rational choice would be to take the exam.
We don't have enough information to actually make the calculation of course, but I think the theory does suggest the correct way of making the decision.
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Isaac
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Wiscagent
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Posts: 843
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Re: Patent Agent Salary Surveys
« Reply #3 on: Oct 14th, 2006, 8:06am » |
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Tricia Liu wrote "... I read from multiple sources saying that in the coastal areas, patent agents command $150/hour, while patent lawyer do for $200-$300/hour."
$150/hr X 2000 hr/yr = $300,000/yr
$200/hr X 2000 hr/yr = $400,000/yr
$300/hr X 2000 hr/yr = $600,000/yr
Most patent attorneys and patent agents, whether coastal or inland, earn about one-third of these amounts.
Tricia - did you "read from multiple sources" and then just add up the amounts?
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Richard Tanzer
Patent Agent
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Isaac
Senior Member
Posts: 3472
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Re: Patent Agent Salary Surveys
« Reply #4 on: Oct 14th, 2006, 8:35am » |
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Maybe she was quoting billing rates rather than salaries.
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Isaac
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