The National Association for Law Placement is calling it: Associate salaries have peaked for the foreseeable future.
NALP released its annual associate salary survey on Monday. No surprises: It showed firms with over 1,000 lawyers paid first year associates on average $160,000 in 2008. The lowest paid first years made $70,000 at firms with between 2-25 lawyers. The data was gathered from 642 offices, some of them from the same firms to reflect geographic differences.
“This year’s report reflects what is likely to be the apogee of large firm salaries for the foreseeable future, and represents the culmination of increases since 2006,” said NALP’s press release.
The results are a little dated because they represent data through April 1, 2009, before most of the big firm salary cuts took place.
You might refer to our running total of the firms with a notable California presence that have cut salaries, and the dates they did it.
— Amanda Royal
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