We just posted two new articles to the MPF website about life as an associate attorney in a big law firm.....and things do not appear as rosy as they were just a few short years ago.
The first article - "Associate Salary Figures in a Holding Pattern" - summarizes a NALP (National Association of Law Placement) survey about starting salaries for first-year associates. They have leveled off over the past two years, hovering at around $115,000, says NALP. That's down sharply from $130,000 in 2008.
The second article - "They Survived the Economic Downturn, but Now What?" - appeared recently in The American Lawyer and reports that mid-level associates at AmLaw 200 firms are not happy campers these days. Stagnant salaries, reduced benefits, heavier workloads and poor career development programs are to blame. The article reports that the number looking for new jobs has doubled in the past year, with half seeking a better "work/life balance."
I don't know about you but I, personally, don't have too much sympathy for first-year associates having to squeak by on $115,000 per year in today's economy.