Economic Lawyer: Work, Qualities and Income to Know

What is an economic lawyer?

Economic lawyers are legal experts specialising in law fields related to economic, commercial and business activities. They not only understand the law but also have solid knowledge of economics, finance, commerce and investment to advise clients comprehensively.

Unlike lawyers specialising in criminal or civil matters, economic lawyers focus on issues such as commercial law, enterprise law, investment law, tax law, competition law, securities law, M&A (mergers and acquisitions) and commercial disputes. They work mainly with enterprises, corporations, investors and economic organisations.

Which exam block does an economic lawyer take?

To study the Economic Law discipline, you need to clearly grasp the subject combinations according to the regulations of the Ministry of Education and Training. The common exam blocks to enter the Economic Law discipline include:

• Block A00 (Mathematics, Physics, Chemistry)
• Block A01 (Mathematics, Physics, English)
• Block C00 (Literature, History, Geography)
• Block D01 (Literature, Mathematics, English)
• Block D07 (Mathematics, Chemistry, English)

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The factors an economic lawyer needs

To become a successful economic lawyer, you need to equip yourself with many important skills and qualities as follows:

Communication skills

Economic lawyers need to communicate effectively with clients and partners in many different fields. The ability to listen, understand needs and interpret complex legal issues clearly is the key factor. Besides, persuasion skills in negotiation, litigation and accurate, professional legal-document writing skills help protect clients’ rights to the maximum.

A good knowledge foundation

Economic lawyers must have a solid foundation in law and a deep understanding of economics, finance, accounting. This combination helps advise not only in accordance with regulations but also suitable to business reality. Thanks to this, the lawyer can give comprehensive solutions, especially in commercial, investment and M&A transactions.

The ability of logical analytical thinking

Logical thinking helps economic lawyers analyse problems, identify risks and evaluate different legal options. In complex disputes or transactions, this skill helps build tight arguments and a suitable strategy. This is the foundation for the lawyer to make accurate and effective decisions.

Good foreign languages

In the context of globalisation, foreign-language skills, especially English, are an indispensable factor. Economic lawyers regularly work with international contracts, research foreign law, participate in cross-border transactions and communicate with international partners. Lawyers need to accurately read and understand the terms in English contracts, draft legal documents in English, etc.

A love of learning

Law and the business environment always change, requiring economic lawyers to continuously update knowledge. Following new documents, case law and legal trends helps the lawyer maintain professional capacity. The spirit of learning from practice and colleagues is an important factor for sustainable career development.

The salary of an economic lawyer

The salary of an economic lawyer today is quite diverse, depending on experience, job position as well as the practice environment. Below is the salary of an economic lawyer you can refer to:

Salary by experience level

According to the “Legal Sector Salary Survey 2024” by Robert Walters Vietnam – a reputable international recruitment company, lawyers with higher foreign-language skills and international knowledge have an average salary 50-70% higher than the market level.

• Newly graduated lawyers (0-2 years of experience) usually have a starting salary of 10-18 million VND/month at domestic law firms and 15-25 million VND/month at international law firms.
• Lawyers with 3-5 years of experience can receive a salary of 20-40 million VND/month.
• Senior lawyers (5-10 years of experience) have an income of 40-80 million VND/month
• Partner lawyers at law firms can have an income from 100 million VND/month or more

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Income by job position

Depending on the practice environment and the role undertaken, the income of an economic lawyer differs quite clearly. Below is the common salary by each job position:

• In-house Lawyer: Average income 15-30 million VND/month, at large corporations or FDI enterprises it can reach 40-60 million VND/month.
• Lawyer working at a Law Firm: Starting salary 8-20 million VND/month; with 5-10 years of experience reaching 20-40 million VND/month.
• Freelance consulting lawyer: Flexible income, average 10-30 million VND/month, can be higher if building a reputation and a stable client network.

Salary based on region and scale

The income of an economic lawyer depends not only on personal capacity but is also greatly influenced by the working locality and the enterprise scale:

• By region: HCMC and Hanoi have a higher economic-lawyer salary, 15-30 million VND/month, other provinces 7-15 million/month due to lower legal demand.
• By enterprise scale: FDI enterprises usually pay 20-30% higher than domestic enterprises, income can reach 20-50 million VND/month with experienced lawyers.

Which school is good to study to become an economic lawyer?

HUFLIT is one of the top choices for students wanting to pursue the economic-lawyer profession with many outstanding strengths.

• A training programme tied to enterprise legal practice: HUFLIT designs the Economic Law programme closely combining theory and practice. Students not only study foundational law subjects but also access real situations such as drafting commercial contracts, handling enterprise disputes, etc.
• Focusing on practising skills: The school organises mock trials, litigation practice, negotiation and mediation skills. Students train legal-document drafting skills, case-law research and real legal advice right while still at school.
• Lecturers with practical experience: HUFLIT’s lecturer team includes highly qualified doctors and masters, many of whom are practising lawyers, legal experts at enterprises and state agencies.
• A dynamic study environment supporting comprehensive development: HUFLIT regularly organises seminars and legal talks with the participation of leading experts, helping students update the latest legal trends and expand their relationship network.
• Clear career orientation right from studying: The school has internship programmes at law firms, enterprises and state agencies, helping students access career reality early and build a portfolio for their future career.
• Strength in foreign languages: As a school specialising in foreign languages, Law students study some specialisations taught entirely in English, in order to enhance the ability to use legal English and access international materials.

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FAQs frequently asked questions about the economic lawyer

Who is an economic lawyer and what do they do?

An economic lawyer is a legal expert specialising in handling issues related to commercial, financial, investment and business law. They give legal advice, draft contracts, support enterprises in transactions or commercial disputes.

How much can a freelance consulting lawyer earn each month?

A freelance lawyer usually has an income of 10 to 30 million VND/month, depending on the number of clients and the scale of the project. If they have a reputation, the income can be considerably higher, up to 50-100 million VND/month or more. However, the income of a freelance lawyer is not as stable as a lawyer working full-time at a law firm, and they have to be responsible for operating costs, insurance and other amounts themselves.

Which region pays the highest economic-lawyer salary?

HCMC and Hanoi are the two regions with the highest salary for economic lawyers, ranging from 15 to 30 million VND/month for lawyers with average experience and can reach up to 80-150 million VND/month. Other provinces are usually lower due to limited legal demand and few large law firms operating.

The economic lawyer is a full-of-prospect profession with an attractive income and many development opportunities. With the combination of solid legal knowledge, good foreign-language skills and the ability to adapt to a dynamic business environment, you can completely build a successful career in this field. Contact HUFLIT today for detailed advice on the Economic Law training programme to conquer the dream of becoming a professional economic lawyer!

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