While the media has given so much speculation as to the earnings of renowned lobbyists, let’s take a more in depth look at the factors that influence their salaries and how much do lobbyists earn.
Factors Affecting Salary
1. Influence
This pertains to how influential you are in a certain field. For example, when the legislature is arguing about health issues, then you could earn as much as $1,300,000 to $2,500,000. Your influence will also depend on what you have achieved in life. A president of a well-known research institute in the United States was said to have made $ 1,500,000 during a very debatable time with the health issue as the main topic. Lobbyists, having the ability to influence the more influential people can be paid by pharmaceutical companies or research institutions to make the legislature favors their concerns.
2. Experience
Experience is closely linked to influence. If the lobbyist has a proven track record, then he might as well be paid a huge sum of money, not less than $1,000,000 but not greater than $2,000,000. The median salary of an experienced lobbyist in a specific field of interest is at $ 500,000 but depending on the years and level of experience, the lobbyist can also negotiate this salary to his needs. For example, if he is going to lobby for a well known IT company, he might as well research on how much that IT company is worth, then base his salary demand on it. It can be as “low” as $ 40,000 or as high as millions of dollars. The lobbyist should also take into consideration the impact of the issue in the society.
3. Supply And Demand
If the supply is greater than the demand, then, chances are that the lobbyist may not earn as high as he expects. For example, when there are issues that involve expertise in finance, then, lobbyists inclined in the field of Finance are more likely to earn more than those who are not. During these times, a lobbyist can make up to $ 800,000 plus additional compensation packages.
4. State Salaries
A lobbyist need not depend on the legislature. With the use of his resources, he may want to influence a Washington State decision by working closely with state or the local law makers. The average salary for lobbyists in Washington where most of the national issues are discussed is said to be at $ 150,000 while lobbyists in Los Angeles earn an approximate amount worth $ 105,000. In the mean time, for the busy street lights of New York City, lobbyists earn an average of $112,780. Lobbyists based in Miami are said to earn an average of $92,519. In Chicago, a lobbyist can earn $ 95,865 in a year.
Truly, becoming a lobbyist is far more than the fame and connection. Some lobbyists are accused of hiding the truth from the masses, by keeping their clients satisfied. They are attacked with ethical issues which are all part of the job. How much do lobbyists make? It depends.
So, do you think you have what it takes?
Author Bio
Martin is a law student studying at a leading university in New Castle. He has a passion for blogging and writing resourceful articles on political views. He has written this resourceful article on how much do lobbyists make