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Author Topic: Average starting salary for law school graduates falls 13%, NALP says  (Read 1473 times)

unknownOne

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With fewer jobs available at high-paying law firms, 2010 law school graduates saw their median starting salaries fall by 13 percent from 2009, according to data from the National Association for Law Placement.

NALP’s research also reveals that aggregate starting private practice salaries fell a whopping 20 percent for the class. [...]

Read more: http://www.bizjournals.com/philadelphia/blog/jeff-blumenthal/2011/07/average-starting-salaries-for-law.html

Thane Messinger

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With fewer jobs available at high-paying law firms, 2010 law school graduates saw their median starting salaries fall by 13 percent from 2009, according to data from the National Association for Law Placement.

NALP’s research also reveals that aggregate starting private practice salaries fell a whopping 20 percent for the class. [...]


Just a note:  we tend to think in terms of averages (and then get annoyed when those averages don't apply in a good way).

Law salaries have long been bimodal:  there are a handful who make, well, a handful . . . even in a bad market.  And there are many who scrounge far below.  There really isn't an "average" as we would see in a normal distribution.  The point is that it is highly misleading to speak of even "median" salaries.  In law, there is no such thing (at least not in any meaningful way beyond the statistical average).

For all, there is hope.  But don't get upset over these various prognostications.  You're not looking for a statistically-driven average salary.  You're looking for a single job, with a single salary . . . with luck a good one, with time left over so that you'll actually get to watch Harry Potter with your kids (and not, a few years hence, in the nursing home when you have a bit more time).

Hang in there,

Thane.

lawstudent#1

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Re: Average starting salary for law school graduates falls 13%, NALP says
« Reply #2 on: August 08, 2011, 07:02:31 PM »
What? Entry level jobs day one after passing the bar down from $160K.....MADNESS!!!!!!

Quick, everyone dropout and go to B-school where we can learn to make coffee and fake paperjams for extra cigarette breaks!!!!! :o

Thane Messinger

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Re: Average starting salary for law school graduates falls 13%, NALP says
« Reply #3 on: August 16, 2011, 04:57:40 PM »
What? Entry level jobs day one after passing the bar down from $160K.....MADNESS!!!!!!

Quick, everyone dropout and go to B-school where we can learn to make coffee and fake paperjams for extra cigarette breaks!!!!! :o


Actually, business school is a lot of fun.  And, truth be told, more appropriate for many who attend law school.

sollicitus

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Re: Average starting salary for law school graduates falls 13%, NALP says
« Reply #4 on: March 06, 2012, 03:02:52 PM »
I agree with Thane. I think those who practice law who have some type of business background are far more likely to do well. Chances are, you'll be "running your own business" at some point in your law career.

I don't think you understood the give and take there. It wasn't about undergrad prelaw education, it was about one vs the other.
Could someone who knows about Business do better in running a lawfirm? Of course they could.
Could someone with an MBA or even a DBA sit the bar (in and of itself)? No.

Nothing wrong with a joint degree or a diverse undergrad education, but between the two options one is obviously more limited than the other.