There are currently an estimated 7,800 arbitrators in the United States. The arbitrator job market is expected to grow by 11.5% between 2016 and 2026.
How employable are arbitrators?
CareerExplorer rates arbitrators with a D employability rating, meaning this career should provide weak employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 3,100 arbitrators. That number is based on 900 additional arbitrators, and the retirement of 2,200 existing arbitrators.
Are arbitrators in demand?
Because many arbitrators and mediators work for state or local government, budgetary constraints will limit demand, as will this occupation’s low turnover rate. However, as arbitration and other dispute resolution methods are generally faster and less expensive than trials, marginal growth will occur in the field. Furthermore, jobs may be created as an increasing number of jurisdictions implement mandatory dispute resolution programs to reduce litigation. Economic downturns, which typically increase the need for mortgage mediation, may result in added openings for job seekers. Although many arbitrator positions do not require university level education, overall weak employment opportunities suggest that job candidates with a law degree will significantly increase their prospects, as conflict resolution very often involves legal issues. In addition, those who obtain credentials from the American Arbitration Association by completing an approved program of education and apprenticeship are likely to further increase their marketability.
What’s the supply of arbitrators?
The arbitrator industry is concentrated in California, Texas, New York
Arbitrator job market by state
|State Name||Employed Arbitrators|
|District of Columbia||90|