Salaries for starting associates at big firms soared by $10,000 this year, marking the first increase for new lawyers since 2000 and demonstrating the competition to recruit top talent in a market with a declining number of applicants. But what may be a quick recruiting fix could exacerbate the attrition problem. Indeed, in 2005, 78 percent of associates with about five years' experience left their firms, just as their salary increases started lagging behind those enjoyed by their beginning colleagues.
August 09, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Salaries for beginning associates at big firms soared by $10,000 this year, marking the first increase in pay for new lawyers since 2000, according to the National Association for Law Placement (NALP).
The most common first-year associate salary at law firms with more than 500 attorneys climbed to $135,000 in 2006, NALP reported. That figure likely was welcome relief for law graduates, whose salaries at those firms were stagnant at $125,000 from 2000 to 2005.
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