Thinking About Becoming A Lawyer?

Starting salaries for new lawyers are on the decline according to a September Report issued by NALP – The Association for Legal Career Professionals entitled: Median First Year Big Law Associate Salary Slumps to $145,000 in 2012, a Median Last Seen in 2007.

Recent research from NALP reveals that, although first-year associate salaries of $160,000 are still widespread at large law firms of more than 700 lawyers — especially in large markets — that figure no longer represents the prevailing salary, resulting in a median for this group of firms as a whole of $145,000, a median figure last seen in 2007. In the intervening years at least half the first-year salaries in firms of this size were reported at $160,000, with the proportion reaching a high of nearly two-thirds in 2009, confirming the characterization of 2009 as the recent high point for large firm salaries. In many markets, including Chicago, Los Angeles, New York, and Washington, DC, first-year salaries of $160,000 are still the norm at the largest firms, though they are not as widespread as they were just a few years ago.

 


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