Patent Agent/Advisor’s Job Market Heating Up
Our Network Recruiters have informed us that despite the current COVID-19 pandemic, where firms are furloughing supporting staff and attorneys, the Patent Agent/Technical Advisor job market is heating up with unprecedented compensation packages being offered.
Prior to the virus outbreak there was a shortage of technical engineers and scientists, and the virus has not changed this. Well run firms are using this moment to build their bench strength to be prepared for when the economy reopens.
Our Recruiters are reporting to us that unprecedented compensation plans are being offered to Patent Agents/Technical Advisors. It is also not out of the norm to see Patent Agents/Technical Advisors base salaries over the 200 K mark and yearend bonuses being paid on an Associate bonus scale.
One of our Network Recruiters placed a Biglaw Patent Agent (Masters Degree in Electrical/Computer Engineering) with 6 months of experience, at a base salary of 185K and guaranteed yearend bonus of 50K.
IP Leadership has expressed to our Recruiters that hiring Agents instead of Associates gives them greater flexibility in terms of bill rates to their clients, along with a competitive edge to drive in new business. In addition, firms that hire at a time when a large portion of the IP marketplace is on hold can be less risky than staying put.