Hovering around the median. Is it really that bad?

[rutherford]

i misspoke. the firms are struggling to get the talent they want and there is more competition for that talent, etc.  hence the hike to 160K.

[kilroy55]

NALP just released stats from the class of 2006.  Here is the write up I have about:

"As reported, 90.7% of the members of the Class of 2006 for which employment status was known were employed as of February 15, 2007 — a rate that topped 90% for the first time since 2000. The strong market did not, however, mean that every new graduate started work at a large firm at one of the much publicized $135,000 or $145,000 salaries. In fact, only 14% earned a $135,000 or $145,000 salary, while a far greater number of graduates, 42%, earned $55,000 or less. In addition, far more graduates started work in small firms of 50 or fewer lawyers or in non-firm settings (71% of those employed) than at firms of more than 100 lawyers (just 20% of those employed). Among the demographic findings reported in the press release was the fact that 46% of employed Black/African-American graduates took jobs in private practice, while about 58% of employed white graduates and 60% of employed Asian/Pacific Islander graduates did so."

[rutherford]

Yeah. I saw that.    42% earning 55K or less.  That's just awful.

[kilroy55]

Yeah. I saw that.    42% earning 55K or less.  That's just awful.

Not really.  You have to remember some of those people are federal government employees, judicial clerks and ADAs.  I personally hope to be getting a clerkship this coming year at the Federal Circuit Court level (major reach) or District Courts.  These positions don't pay all that well, but once you are done, many firms pay you very well (some with signing bonuses), and some firms give accrued time based on a federal clerkship.

[1LMan]

Also, how is the info. gathered?

[kilroy55]

Also, how is the info. gathered?

NALP usually does surveys through career services offices of law schools, and firms themselves.  NALP is, as you know, pretty much the authority in this arena, along with the ABA. 

[rutherford]

Yeah. I saw that.    42% earning 55K or less.  That's just awful.

Not really.  You have to remember some of those people are federal government employees, judicial clerks and ADAs.  I personally hope to be getting a clerkship this coming year at the Federal Circuit Court level (major reach) or District Courts.  These positions don't pay all that well, but once you are done, many firms pay you very well (some with signing bonuses), and some firms give accrued time based on a federal clerkship.

You are correct. 55K is great for some and there is no question that a federal clerkship will help your earning potential in the future. For me though, that would be awful and in fact a substantial pay cut.   I'm willing  to compromise a little to gain relevant experience, but I don't expect to be making less out of law school.

[1LMan]

Also, how is the info. gathered?

NALP usually does surveys through career services offices of law schools, and firms themselves.  NALP is, as you know, pretty much the authority in this arena, along with the ABA. 

My point is that it is all self-reported essentially.  If law students don't pass on their info to their law school, then it never gets published by the NALP.  Take statistics with a grain of salt, especially in a field where some people make over a million dollars a year and some make under $35k a year.

It is silly to rely on published "samples."

[kilroy55]

Also, how is the info. gathered?

NALP usually does surveys through career services offices of law schools, and firms themselves.  NALP is, as you know, pretty much the authority in this arena, along with the ABA. 

My point is that it is all self-reported essentially.  If law students don't pass on their info to their law school, then it never gets published by the NALP.  Take statistics with a grain of salt, especially in a field where some people make over a million dollars a year and some make under $35k a year.

It is silly to rely on published "samples."

I agree, unfortunately these statistics are used by firms when salary negotiations come into play.  Like it or not, most attorneys are not making enormous salaries.

[rutherford]

Well the results are in. After my Prescreened OCI, I have 9 interviews at Mid to BigLaw firms. Not overly impressive, but at least I didn't get shut out entirely. Still need to do my direct writes.