Law firms have bumped up starting salaries for associates at top firms over the past few years, prompting Big Law clients to raise a stink about outsized salaries for junior lawyers. But it turns out that this pay—increased to $190,000 this year for lawyers fresh out of law school in big markets such as New York—falls short of past peaks when inflation is taken into account.
Adjusting for inflation with the U.S. Labor Department’s consumer price index calculator, even the recent hikes leave today’s first-year associates with a lower starting salary than their counterparts who entered the industry just before the global recession, according to an ALM analysis of pay data drawn from the National Association for Law Placement (NALP).
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
