Lawyer Pay

An open letter to potential law students: Know the truth

With the recent news that some BigLaw starting salaries are rising to $190,000, it’s no wonder that law school continues to be a top destination for recent college graduates. However, the truth behind those starting salaries—and given the volatility of the legal job market and the effects of globalization and technology on the business of law—should give one pause before taking out $200,000 in school loans.

Aug 13, 2018 6:00 AM CDT

Median salaries for new law grads jump to $70K as BigLaw boosts hiring of newbie lawyers

Median salaries for law school graduates in the class of 2017 was $70,000, up $5,000 from the previous class, according to statistics released Thursday by the National Association for Law Placement. Average salaries, meanwhile, jumped from $90,305 for the class of 2016, to $95,320 for the class of 2017, according…

Aug 2, 2018 6:05 AM CDT

ABA reveals $1.3M theft by a now-former staff member on tax form

The American Bar Association has posted a tax form that reveals a onetime staff member diverted about $1.3 million from the ABA over a period of eight years.

The ABA became aware of the theft by a nonmanagerial staff member last September, according to Form 990 (see page 118) and an interview with ABA Executive Director Jack Rives.

Jul 17, 2018 3:47 PM CDT

Median pay for public service lawyers rises modestly, NALP reports

Salaries for public service lawyers continue to slowly increase, but their pay is still below that of lawyers in private practice, according to a salary survey by the National Association for Law Placement.

Jul 10, 2018 2:25 PM CDT

Reed Smith confirms it won’t raise associate salaries

One large law firm is holding the line as more law firms match new associate pay scales that, according to the new Cravath standard, range from $190,000 to $340,000. Reed Smith has no current plans to raise associate starting salaries at any location, the American Lawyer reports, citing information provided…

Jun 20, 2018 7:10 AM CDT

Suit says Jones Day’s ‘black box’ compensation system hides pay bias

A former Jones Day partner in California has filed a lawsuit claiming the firm’s secretive compensation system and subjective performance reviews are designed to hide pay discrimination against women.

Jun 20, 2018 7:05 AM CDT

It’s not the associate salaries, it’s the human skills that challenge law firms

Earlier this month, New York-based Milbank, Tweed, Hadley & McCloy announced it will increase its associate salaries across the board by $10,000 to $15,000—a starting salary of $190,000 for those fresh out of law school. What followed was an outcry in the legal media and reports that unhappy clients are…

Jun 19, 2018 7:00 AM CDT

Several firms follow Cravath after it beats Milbank on associate pay raises and adds bonuses

Cravath set a new standard for associate pay on Monday when it announced it was paying salaries ranging from $190,000 to $340,000. Now several other law firms have announced they are matching Cravath’s salaries.

Jun 14, 2018 2:43 PM CDT

Cravath beats Milbank on salaries for some associates

Updated: Milbank, Tweed, Hadley & McCloy set a new standard for associate salaries last week when it announced higher salaries across all experience levels, paying $190,000 for new associates and $330,000 to the most experienced associates.

Jun 12, 2018 8:56 AM CDT

Some law firms match Milbank’s $190K starting pay for associates

A few major law firms are jumping on the bandwagon and raising starting pay for new associates to $190,000.

Jun 7, 2018 7:05 AM CDT

Milbank boosts associates’ starting pay to $190K

New associates at Milbank, Tweed, Hadley & McCloy will be paid $190,000, the law firm announced on Monday.

Jun 4, 2018 3:11 PM CDT

Do you believe you are fairly compensated for your work?

This week, we noted a Martindale Legal Marketing Network survey of 6,900 solo and small-firm lawyers in which 68 percent reported they felt they were fairly compensated for their work.

May 23, 2018 1:26 PM CDT

Average earnings for solo and small-firm lawyers was nearly $200K last year, report says

Sixty-eight percent of solo and small-firm lawyers believe they are fairly compensated for their work, according to an online survey by the Martindale Legal Marketing Network.

May 22, 2018 3:17 PM CDT

‘Mommy track is a dead end’ at Morrison & Foerster, associates allege in $100M suit

Three associates at Morrison & Foerster have filed a would-be $100 million class-action suit that claims the firm maintains a “family-friendly façade” even as it discriminates against lawyer moms.

Apr 30, 2018 12:59 PM CDT

$11M a year for a lateral hire? Star partners are valued ‘like Hollywood celebrities’

At Cravath, Swaine & Moore, partners earn a hefty $4 million a year, on average. But that pales in comparison to reported compensation for some former Cravath partners hired away by competing law firms, the New York Times reports. “The money involved is so big,” the newspaper reports, “that star…

Apr 30, 2018 10:21 AM CDT