New associate comp survey

September 20th, 2012 by Altman Weil

NALP’s new research on associate compensation is a timely complement to yesterday’s BigLaw partner compensation survey news.  They found that fewer new hires are collecting top dollar ($160K) salaries right out of law school.

“Recent research from NALP reveals that, although first-year associate salaries of $160,000 are still widespread at large law firms of more than 700 lawyers — especially in large markets — that figure no longer represents the prevailing salary, resulting in a median for this group of firms as a whole of $145,000, a median figure last seen in 2007. In the intervening years at least half the first-year salaries in firms of this size were reported at $160,000, with the proportion reaching a high of nearly two-thirds in 2009, confirming the characterization of 2009 as the recent high point for large firm salaries. “

But overall first year salaries are up somewhat…

“NALP’s 2012 Associate Salary Survey reports that the overall median first-year salary at firms of all sizes was $125,000, up from $115,000 in 2011. Medians ranged from $70,750 in firms of 2-25 lawyers to $125,000 in firms of 501-700 lawyers, and $145,000 in firms of 251-500 lawyers and in firms of more than 700 lawyers. The median at firms of 251-500 lawyers had been at $125,000 from 2009 to 2011, while that at firms of 501-700 lawyers edged up from $120,000, reflecting relatively more reporting of salaries of $125,000 in 2012 compared with 2011.”

The NALP survey included data from 570 law firms of all sizes.

Read it at NALP

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