NALP Bulletin, July 2005
The table provides a 15-year overview of law firm starting salaries, based on NALP’s annual Employment Report and Salary Survey (now published as Jobs & JD’s: Employment and Salaries of New Law Graduates). Median salaries at the largest firms of more than 100 lawyers have remained quite stable for the past five years, in contrast to the mid to late 1990s, when large law firm starting salaries saw dramatic increases.
The current stability now resembles another period of stability in the early 1990s. Median salaries at smaller firms have increased by 60% or less over the period, with the early 1990s again being a period of relative stability.
Median Starting Salaries by Firm Size — 1990-2004
|
|
FIRM SIZE (Number of Attorneys) | |||||||
|
All Sizes |
2-10 |
11-25 |
26-50 |
51-100 |
101-250 |
251-500 |
501+ | |
|
1990 |
$50,000 |
$30,000 |
$40,000 |
$45,000 |
$53,000 |
$60,000 |
$70,000 |
$70,000 |
|
1991 |
50,000 |
30,000 |
40,000 |
48,000 |
55,000 |
61,000 |
70,000 |
70,000 |
|
1992 |
47,500 |
30,000 |
40,000 |
48,000 |
54,000 |
60,000 |
70,000 |
70,000 |
|
1993 |
48,000 |
30,000 |
40,000 |
48,000 |
54,000 |
61,750 |
70,000 |
70,000 |
|
1994 |
50,000 |
32,000 |
40,000 |
48,000 |
55,000 |
60,080 |
70,000 |
70,000 |
|
1995 |
50,000 |
32,500 |
40,000 |
48,000 |
55,000 |
62,000 |
72,000 |
72,000 |
|
1996 |
50,000 |
34,000 |
40,000 |
49,000 |
55,000 |
62,000 |
74,000 |
77,000 |
|
1997 |
55,000 |
35,000 |
42,000 |
50,000 |
58,000 |
67,000 |
79,000 |
80,000 |
|
1998 |
60,000 |
37,000 |
43,500 |
52,000 |
62,000 |
72,000 |
85,000 |
90,000 |
|
1999 |
70,000 |
40,000 |
46,000 |
55,000 |
70,000 |
80,000 |
92,000 |
97,000 |
|
2000 |
80,000 |
40,000 |
50,000 |
60,000 |
76,000 |
99,500 |
125,000* |
125,000* |
|
2001 |
90,000 |
43,000 |
52,000 |
62,000 |
80,000 |
100,000 |
125,000* |
125,000* |
|
2002 |
90,000 |
45,000 |
52,500 |
65,000 |
80,000 |
100,000 |
125,000* |
125,000* |
|
2003 |
80,000 |
45,000 |
55,000 |
65,000 |
80,000 |
95,000 |
125,000* |
125,000* |
|
2004 |
80,000 |
48,000 |
55,000 |
65,000 |
76,000 |
100,000 |
116,000 |
125,000* |
|
% Change, |
60% |
60% |
37% |
44% |
43% |
67% |
66% |
79% |
* The median for these categories is technically $125,000 based on a ranking of all reported salaries. However, because about half of the reported salaries were $125,000, the concept of a modal, or prevailing, salary is more useful.
Source: Employment Report & Salary Survey reports/Jobs & JD’s reports for the Classes of 1990-2004.
