Law Starting Salaries in Free Fall
July 18 (Bloomberg Law) — There’s more bad news for recent law school graduates — starting salaries for those who join law firms has fallen 35% over the past two years. The median law firm starting salary in 2009 was $130,000. By 2010 it was $104,000. And for the Class of 2011 it has dipped below six figures to just $85,000, according to the National Association for Law Placement. Associates at the biggest law firms can still expect an annual starting salary of around $160,000, but there are fewer and fewer of those jobs, which explains what’s dragging down the median. For all law graduates, whether they work in law firms or elsewhere, the median has fallen 17% over the past two years, to $60,000. The latest research comes on the heels of a June report that only 55% of the Class of 2011 found permanent full-time jobs that required passing the bar. The Class of 2012, which sits for the bar exam next week, can only hope things get better soon.