Job opportunities for arbitrators and the related careers of mediator and conciliator are expected to increase by 5 percent from 2022 to 2032, according to the U.S. Department of Labor (USDL). This is faster than the average for all careers. “Arbitration and other alternative dispute resolution methods often are quicker and less expensive than trials and litigation,” according to the USDL. “In addition, many contracts, including employment, customer, and real estate contracts, include clauses requiring complaints and disputes to be decided through mediation or arbitration.”
Despite the predicted strong growth, aspiring arbitrators should keep two things in mind. First, this is a small occupation, and the predicted job growth is expected to only generate 400 new jobs per year nationwide through 2032. Second, many arbitrators, mediators, and conciliators are employed by state governments, where limited budget have reduced hiring for these positions in recent years.
Arbitrators with a background in law and expertise in a legal specialty (such as environmental, health, or corporate law) will have the best job prospects.
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