Law School Discussion

Starting Salaries

jiggedyjared

Re: Starting Salaries
« Reply #10 on: May 22, 2006, 07:58:36 AM »
yup... princeton review definitely has it.  ILRG.com also has it, but I think it's a little dated.

mirror

  • ****
  • 263
    • View Profile
Re: Starting Salaries
« Reply #11 on: May 22, 2006, 08:42:04 AM »

I'm still not buying that 50% of any law school (assuming you are taking the median) make more than 140K a year starting out. 

First of all, we are talking about private practice.  Certainly some dogooders will take public interest jobs.  Also, I never even said the median make $140k+, I just implied that $115k is way to low of an estimate bc of what nyc market is.  However, its very likely that the median private salary is $135-145k.  Everyone from H has that option, it would make less sense if more than half chose to work for under market rates.

Re: Starting Salaries
« Reply #12 on: May 22, 2006, 09:17:37 AM »
Quote
Will you people stop doing that?

http://en.wikipedia.org/wiki/Average

if you're trying to distinguish the median from the mean, don't do it by contrasting "average" with median because median = average.

average = mean
average = median
(and average = mode)
mean != median
HTH

If this is to be accepted, then the question "what is the average x" can have many different answers, all of them correct. This would make the term almost meaningless. Until matters are resolved on this board (since I hold a strong opinion for a particular definition of average), should we all not agree to use mean, median and mode, rather than average?

This said, the two recent grads I know (COlumbia -> SF, and Boalt -> NYC) both got 125K, which seems to be both median and mode.


P.S. I also strongly advise about believing wikipedia without checking, since any idiot - self included - can edit the contents. I have personally noticed (and corrected) two flamboyannt errors that would have made the entries unworthy of a Junior high report.

Re: Starting Salaries
« Reply #13 on: May 22, 2006, 09:29:37 AM »
And one could add this:

http://en.wiktionary.org/wiki/Average

Two definitions are presented: one says its mean, the other says any of mean, mode and median. This seem like 1.33 votes for mean, and 0.33 each for mode and median.

J D

  • ****
  • 1386
  • Lust isn't one of the 7 Deadly Sins for nothing...
    • View Profile
Re: Starting Salaries
« Reply #14 on: May 22, 2006, 10:30:23 AM »
In common usage, and in both my stats classes in college, "average" generally referred to the (arithmetic) mean.  But the mean, median, and mode were all referred to as "measures of central tendency."

d1111

Re: Starting Salaries
« Reply #15 on: May 22, 2006, 10:59:44 AM »
Here's my question about salaries:
So let's say two students coming out of law school get hired by the same firm, let's say King and Spaulding in Atlanta .  One student came from Harvard and one came from University of Georgia.  Does the Harvard graduate get paid more, or do both students get the normal first year salary of $115K?   

Slow Blues

Re: Starting Salaries
« Reply #16 on: May 22, 2006, 11:46:27 AM »
Here's my question about salaries:
So let's say two students coming out of law school get hired by the same firm, let's say King and Spaulding in Atlanta .  One student came from Harvard and one came from University of Georgia.  Does the Harvard graduate get paid more, or do both students get the normal first year salary of $115K?   

All other things equal, they should get the same amount. One good thing about law is the salaries are very transparent. I wish all industries were like this.

Law-Man

  • ****
  • 697
  • In case LS doesn't work out... thank you "Duck"
    • View Profile
Re: Starting Salaries
« Reply #17 on: May 22, 2006, 12:27:23 PM »
Here's my question about salaries:
So let's say two students coming out of law school get hired by the same firm, let's say King and Spaulding in Atlanta .  One student came from Harvard and one came from University of Georgia.  Does the Harvard graduate get paid more, or do both students get the normal first year salary of $115K?   

See this is a good point, and in 5 years from their start at King anf Spaulding, they will both still be making the same amount, and someone who started at a Midsize for 3 years and then got hired by King and Spaulding, same amount.

yiplong

  • ****
  • 1477
    • View Profile
Re: Starting Salaries
« Reply #18 on: May 22, 2006, 03:34:51 PM »
Median and average can yield completely different numbers.

Will you people stop doing that?

http://en.wikipedia.org/wiki/Average

if you're trying to distinguish the median from the mean, don't do it by contrasting "average" with median because median = average.

average = mean
average = median
(and average = mode)
mean != median
HTH

I don't know what are you talking about.  Median, mean, and mode are 3 different values. 
Median is the number that, if you sort the list in either increasing or decreasing order, will appear in the middle of the list.  That is, half of the sample are greater than or equal to the median, while the other half are smaller or equal to the median. 
Mean is exactly the same as average.
Mode is the value that appears most frequently. 
Knowing median, mean (average) and standard deviation would give you a pretty good picture of the whole sample. 
w

Re: Starting Salaries
« Reply #19 on: May 22, 2006, 03:40:39 PM »
Hey, that's my view too, but I actually found some dictionaries stating otherwise, i.e. that average applies to all three