Young lawyers, take heart: That newly minted law degree may be worth a little more coin.
For the third year in a row, the median income for new attorneys has risen — especially for those hired by law firms, the National Association for Law Placement says. While the total is still a long way from the $130,000 enjoyed by the class of 2009, it’s risen steadily since 2011, from $85,000 then to $95,000 for the class of 2013, NALP reports. The association attributes the rise to an increase in hiring by BigLaw firms. (For more details, see ABAJournal.com.)
The median also rose for all 2013 law grads who found full-time employment, but not as much. It stood at $62,467 in the 2013 survey, compared with $61,245 a year earlier. Even so, the trend bodes well for this year’s class.
Of course, first you have to get hired.