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October 10, 2007
12-Year Retrospective of New Associate Salaries
According to NALP, over the last 12 years new/first-year associate salaries have increased in firms of all sizes. The increase is most dramatic in large firms. Here is some interesting data to consider:
In 1996, the median starting salary at firms with 2-10 attorneys was $35,000 and it was $41,500 at firms with 11-25 attorneys. In 2007, the median for both firm size categories was $68,000, a 33% change since 1996.
In 1996, the median starting salary at firms with 26-50 attorneys was $52,000 and today it is $81,000 -- a 56% jump.
In 1996, the median starting salary for new associates at firms with 51-100 attorneys was $58,500 and now it is $90,000 -- a 54% jump.
In 1996, the median starting salary for new associates at firms with 101-250 attorneys was $60,000, and in 2007 it is $105,000 -- that is a 75% increase.
In 1996, the median starting salary for first-year associates at firms with 251 or more attorneys was $70,000 and now it is $130,000 -- a whopping 86% increase.
Salaries have increased in other legal employment sectors as well, but not at the same rate as at law firms.
Posted by smp20 at October 10, 2007 02:34 PM