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TNGA60

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median salary
« on: January 21, 2008, 10:05:30 PM »
Where do you need to be in the class rank to be likely to obtain a job at the median public salary? I know this probably changes from school to school but does anyone have a guess. Here is how I made an estimate(U of Iowa):

Job Distribution
Private Practice= 58%       
Government= 10%
Clerkship= 5%
Academic= 5%
Public Interest= 9%
Business= 13%


Average Salary
Private Practice= $89,298       
Government= $44,888
Clerkship= $43,134
Public Interest= $37,698
Business= $82,455

Assumptions:
Of the students who enter the respective areas:

Clerkship > Academic > Private Practice = Business > Government > Public Interest

Try and follow me:

5+5+[(58+13)/2]= 45.5

So, if you are in the top 40% of the class you should have a good shot at a job of $80,000+, right?

redbull

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Re: median salary
« Reply #1 on: January 22, 2008, 10:44:20 PM »
you need top third at least probably.

nealric

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Re: median salary
« Reply #2 on: January 23, 2008, 04:15:31 PM »
Median salary is not the same thing as average salary. Very few firms actually pay 80k. Iowa and other midwestern schools would be a bit of an exception since it has access to tertiary markets with some local big firms that pay at this level. Its mostly 160k or 50k with little in between.


You might also scrutinize what the terms "clerkship" and "academic" mean.

Does clerkship mean federal clerkship, or is it ANY clerkship? (BIG difference)
Does academic mean teaching law school, or could it include teaching high school?
 Almost nobody gets Legal academia who is not from HYSCCN unless they have a PHd or have done other significant academic work before law school.



Most likely the distribution at Iowa looks like this:
Top 10%/Law review: Biglaw at 160k or federal clerkship
Between top 25% and 10%: Local midsized firms at around 80k.
Between bottom 25% and top 25%: Small firms at 40k/PD/DA/Local clerkships
Bottom 25%: In trouble
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bamf

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Re: median salary
« Reply #3 on: January 24, 2008, 05:23:51 PM »

Does academic mean teaching law school, or could it include teaching high school?
 Almost nobody gets Legal academia who is not from HYSCCN unless they have a PHd or have done other significant academic work before law school.



as far as most school reporting goes, when you see people listed under Academia at schools that arent HYSCCN (and I've heard questions even about the Co and the N being included here) these jobs are either research jobs for bottom of the class students, or jobs in things like law libraries (for people who went into school with an MLS), school administration or career services.
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nealric

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Re: median salary
« Reply #4 on: January 26, 2008, 06:27:10 PM »
For GULC (based of the carrer services statistics given to 1Ls and my own understanding):

Roughly:
Top 10%/LR has access to elite firms (i.e. cravath etc.) and has the potential for federal appelate clerships
Top 50% Garanteed Biglaw
Top 80% Percentage that actually get biglaw SA positions
Top 90% to 80% Get something (small firm/non prestigeous govt job)
Bottom 10%= Docreview/Unemployed

I will be happy as long as I am not in the last category  :)
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