Statistics from the National Association for Law Placement, show that median first-year associate salaries for mid- to large-size firms have remained mostly stable for the last three years, from April 2000 to April 2003.
That is in sharp contrast to the almost 30 percent increase in median entry-level pay between April1999 and April 2000.
First-year associates at firms of 251 or more attorneys today earn, on average, about $110,000.
Of course, salary figures vary by firm size and location. At small firms, median entry-level pay is $59,500, and at very large firms (more than 500 attorneys), the median jumps to about $113,000.
In major cities like Los Angeles and New York, the prevailing salary for first-year associates is $125,000, a number that has remained relatively unchanged over the last three years.
Not surprisingly, the economy has a lot to do with salaries leveling off. NALP officials reported that the last time a plateau like this was seen was in the recessionary mid-1990s.
Virginia Greer, director of career services at John Marshall Law School in Atlanta, Ga., said she is not surprised that salaries have leveled off especially at large firms, because many of them are suffering a backlash as their clients' business suffers.
"At the big firms, clients today are scrutinizing their bills more carefully and not initiating new projects as much," she said. "Some of the big firms are not hiring, not increasing salaries and even letting people go in some cases."
One practice area where salaries continue to be robust, however, is Intellectual Property. Entry-level IP attorneys command as much as $30,000 more than other practice areas, and that gap widens as associates rise through the ranks.
Donald Chisum, a professor and IP specialist at Santa Clara University School of Law in Santa Clara, Calif., said that is mainly because of continuing demand for patent attorneys. "Their salaries are always going to be higher because of their advanced degrees and their usefulness to the firms," he said.
| Chart - 2003 Median Base Salaries | |
| Firm size: 2-25 lawyers 1st year associate: $59,000 2nd year associate: $64,500 3rd year associate: $67,250 1st year summer: $865/week 2nd year summer: $924/week 3rd year summer: $93/week |
Firm size: 26-50 lawyers 1st year associate: $71,000 2nd year associate: $75,000 3rd year associate: $81,000 1st year summer: $1,100/week 2nd year summer: $1,250/week 3rd year summer: $1,200/week |
| Firm size: 51-100 lawyers 1st year associate: $80,000 2nd year associate: $82,800 3rd year associate: 85,700 1st year summer: $1,300/week 2nd year summer: $1,500 /week 3rd year summer: $1,538/week |
Firm size: 101-250 lawyers 1st year associate: $85,000 2nd year associate: $87,000 3rd year associate: $92,838 1st year summer: $1,500 /week 2nd year summer: $1,500/week 3rd year summer: $1,500/week |
| Firm size: 251-500 lawyers 1st year associate: $102,000 2nd year associate: $105,000 3rd year associate: $110,000 1st year summer: $1,925/week 2nd year summer: $2,000/week 3rd year summer: $2,050/week |
Firm size: 501 or more 1st year associate: $113,000 2nd year associate: $120,000 3rd year associate: $128,417 1st year summer: $2,250/week 2nd year summer: $2,275/week 3rd year summer: $2,375/week |
| Source: NALP 2003 Associate Salary Survey | |
This story appeared in the October, 2003 edition of The National Jurist, www.nationaljurist.com
See the following articles for more information:
- Top 10 Reasons Most Law Firms Have No Idea How to Hire and Evaluate Patent Attorneys
- 2016 Law Firm Salary Chart - Firms Announcing Raises
