This summer, we reported that starting salaries for recent law school graduates were on the decline. Now, the NALP, the Association for Legal Career Professionals has more bad news: The median salary for first-year associates at large law firms is $145,000, a figure that was last seen in 2007.
The NALP reports in its 2012 Associate Salary Survey that in 2009, as much as two-thirds of Big Law’s first-year associates were earning $160,000 a year. But since then, the figures have dropped. Nationwide, in firms with more than 700 lawyers, 46 percent said they were paying first-year associates salaries of $160,000, compared with 54 percent in 2011 and 65 percent in 2009.