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Tuesday, July 31, 2007

14% of Law Class of 2006 Make > $135k; 42% Make < $55k

From a NALP press release:

The vast majority of Class of 2006 law school graduates — 90.7% of those for whom employment status was known — were employed as of February 15, 2007. This rate increased for the second year in a row and topped 90% for the first time since 2000. In the past decade, the employment market for new law graduates has remained relatively strong and remarkably stable, standing close to or above an 89% employment rate since 1997. It is also clear, however, that a strong employment market does not mean that every new graduate started work at a large firm at one of the much publicized $135,000 or $145,000 salaries. In fact, just 14% of salaries were either $135,000 or $145,000. Far more, 42%, were $55,000 or less. Far more graduates started work in small firms of 50 or fewer lawyers or in non-firm settings (71% of those employed) than at firms of more than 100 lawyers (just 20% of those employed).

These are among the findings reported in NALP’s newly released Jobs & JD’s: Employment and Salaries of New Law Graduates — Class of 2006, the only comprehensive study available on the employment experiences of recent law graduates. This 33rd consecutive report reflects a total of 182 ABA-accredited law schools participating in the study, providing employment information on 92% of all graduates of the Class of 2006.

See also Leigh Jones, Jobs Aplenty, But Not Many Pay the Big Bucks, Nat'l L. J. (7/31/07).

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