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Starting Salaries for Lawyers on the Rise in '07 December 2006 (SmartPros) — Average starting salaries for legal professionals in the United States are projected to rise 4.7 percent in 2007, according to the new Robert Half Legal 2007 Salary Guide. Larger increases in base compensation are expected for attorneys with one to three years of experience at small to midsize law firms, first year associates and several legal support positions. Research from the annual Robert Half Legal Salary Guide indicates the hiring outlook is positive. Across the nation, corporate governance, litigation, intellectual property and real estate practice areas are generating casework and providing fresh sources of revenue. "New business development and continued regulatory activities are driving demand for legal professionals with practice area expertise in specialties such as corporate governance, litigation or intellectual property," said Charles Volkert, Robert Half Legal executive director. "As a result, legal hiring managers are reassessing their compensation packages to attract the best candidates." Volkert added, "In response to increased caseloads, law firms are intensifying their recruiting efforts for first-year associates. Top graduates from the leading law schools who have gained practice area experience as summer associates are in particularly strong demand." Positions in Demand According to Robert Half Legal research, average starting salaries for attorneys are expected to rise 4.6 percent in 2007. The position that will see the greatest gain in compensation is that of first-year associate at a midsize law firm (35-75 attorneys). Base compensation for this role is expected to rise 7.9 percent, to the range of $68,250 to $95,750 annually. First-year associates at small to midsize law firms (10-35 attorneys) will earn between $53,750 to $78,750 per year, a 7.3 percent increase over 2006 projections. Licensed attorneys with one to three years of experience at small firms (up to 10 attorneys) will see starting salaries rise 7.4 percent, to the range of $51,000 to $80,000 per year. Paralegals can expect average starting salaries to rise 6.1 percent in 2007. The position of senior/supervising paralegal at a large law firm is expected to increase 7.6 percent, to the range of $55,750 to $78,250 annually. Average starting salaries for legal administrators and office managers in small law firms are expected to increase 6.3 percent, to the range of $46,000 to $60,000. Corporate Attorneys Corporate attorneys will see gains on average compensation of 4.6 percent over 2006. Salaries for first-year associates will rise 5.9 percent, to the range of $60,000 to $87,500 annually. Corporate attorney with one to three years of experience will see base compensation rise 5.4 percent, to between $70,500 and $109,000 annually. Other key findings from the Robert Half Legal 2007 Salary Guide include:
Information in the Robert Half Legal 2007 Salary Guide is derived from the thousands of job orders and placements handled nationwide by account executives with Robert Half Legal, a staffing service specializing in attorneys, paralegals and other highly skilled legal professionals. Continuing or ongoing salaries are not reported, as many factors -- such as seniority, performance, work ethic and training, among others -- impact the compensation of full-time legal professionals as employment histories develop. |
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