The more things change, the more they remain the same. In a time of mind boggling changes in the law firm world, the salaries have remained the same, according to a recent report issued by the National Association of Legal Professionals.
The median salary for first year associates working at private sector law firms is $115,000, the same as last year, the survey showed. For law firms of two-to-25 lawyers, the median was $73,000. For the largest law firms in the country, in excess of 700 lawyers, $160,000 remained the top salary.
“These salary figures are not surprising,” said James Leipold, NALP’s Executive Director. “Following the recession, law firm associate salaries are in stasis. We have not seen much movement upward or downward in associate compensation, and these survey results confirm those observations,” Leipold concluded.
The survey also covered staff attorneys and law clerks. Salaries for staff attorneys were $115,000 per year. Median hourly salaries for law clerks typically ranged from $24 to $40 an hour, depending on firm size. The survey also showed bonuses for prior Judicial Clerkships at very large firms, ranging from $10,000 to $25,000.
A total of 630 offices provided salary information as of April 1st, 2011. When you are looking at the salary medians, you might want to bear in mind that more large firms than small firms responded to the NALP survey. 13 % of the respondents were from firms of 50 or fewer lawyers, and 43% of the respondents were from firms of more than 500 lawyers, according to NALP’s press release.
Hillary Mantis consults with pre-law students, law students and lawyers. She is the Assistant Dean of the Pre-law Program at Fordham University and author of career books for lawyers. Admissions questions? You can reach her at altcareer@aol.com.
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Law firm salaries hold steady
Law firm salaries hold steady
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By Hillary Mantis
The more things change, the more they remain the same. In a time of mind boggling changes in the law firm world, the salaries have remained the same, according to a recent report issued by the National Association of Legal Professionals.
The median salary for first year associates working at private sector law firms is $115,000, the same as last year, the survey showed. For law firms of two-to-25 lawyers, the median was $73,000. For the largest law firms in the country, in excess of 700 lawyers, $160,000 remained the top salary.
“These salary figures are not surprising,” said James Leipold, NALP’s Executive Director. “Following the recession, law firm associate salaries are in stasis. We have not seen much movement upward or downward in associate compensation, and these survey results confirm those observations,” Leipold concluded.
The survey also covered staff attorneys and law clerks. Salaries for staff attorneys were $115,000 per year. Median hourly salaries for law clerks typically ranged from $24 to $40 an hour, depending on firm size. The survey also showed bonuses for prior Judicial Clerkships at very large firms, ranging from $10,000 to $25,000.
A total of 630 offices provided salary information as of April 1st, 2011. When you are looking at the salary medians, you might want to bear in mind that more large firms than small firms responded to the NALP survey. 13 % of the respondents were from firms of 50 or fewer lawyers, and 43% of the respondents were from firms of more than 500 lawyers, according to NALP’s press release.
You can write to Hillary at: altcareer@aol.com
Hillary Mantis Esq.
How to stand out in your 1L summer job
The UBE and Me
It’s OK to not be OK
What best prepares you for the practice of law?