Sunday, October 13, 2013

Are You Earning Less than a First Year Associate?

Many professors are. From the National Jurist (excerpts):

The study, conducted by the National Association for Law Placement found
that the overall median first-year associate salaries at firms of all sizes
remained at $125,000, the same as the previous year.

First-year associates at larger firms are earning around $160,000 in
markets across the country. The study indicated that about 56 percent of
first-year associates in firms with more than 700 lawyers had salaries at the
$160,000 mark. Only 46 percent received the same salary in 2012, while 54
percent earned a salary of $160,000 in 2011.

“At the largest firms in the largest markets, a starting salary of $160,000
remains the norm, though its prevalence has ebbed and flowed a bit over the
last several years,” Leipold said.

The study indicated that first-year associate salaries haven’t changed much
since 2007, and aren’t expected to fluctuate much in the next year, either.
Firms with 700 or more lawyers reported that less than half of these firms will
continue to pay their first-year associates a salary of $160,000, causing the
median base pay for first-year associates who will begin working in the fall of
2013 to be about $147,500.


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