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Lawyers' salaries slipping compared to other professions, data indicates

Enjoy paying back your prestigious law school loan......... sanka07/31/17
Are they actually slipping? Or do we just have more accur patenttrollnj07/31/17
At least anecdotally, I think there is an actual decline. On mrtor07/31/17
Very good point! However, salaries of $60K for the 10th patenttrollnj07/31/17
This post has been done 100x. Next confused1l9308/03/17
sanka (Jul 31, 2017 - 9:34 am)

Enjoy paying back your prestigious law school loan.........


Lawyers' salaries slipping compared to other professions, data indicates
POSTED MAY 2, 2017 3:55 PM CDT

BY STEPHANIE FRANCIS WARD


The median salaries of information systems managers, pharmacists and nurse anesthetists are now higher than the median salary for lawyers, according to the most recent data from the Bureau of Labor Statistics.

At the 25th percentile, inflation-adjusted lawyer salaries declined 6.5 percent from $82,935 (in 2016 dollars) in 2006 to $77,580 in 2016, Merritt reported. Salaries also slid 5.2 percent at the 10th percentile from $60,004 (in 2016 dollars) in 2006 to $56,910 in 2016.

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patenttrollnj (Jul 31, 2017 - 11:37 am)

Are they actually slipping?

Or do we just have more accurate data and/or truthful reporting?

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mrtor (Jul 31, 2017 - 11:55 am)

At least anecdotally, I think there is an actual decline. On the insurance defense side, insurers seem to be using data (jury verdict reporters, etc.) to settle more cases before they reach litigation. The cases that go to litigation are carefully reviewed and audited. Our bills are occasionally written off or billed at a reduced rate. Rate increases are stagnant.

Altogether, these factors have resulted in lower profits for the firm. Those lower profits are felt by everyone except for the capital partners.

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patenttrollnj (Jul 31, 2017 - 2:45 pm)

Very good point!

However, salaries of $60K for the 10th %-ile seem a bit high to me. When I started working in the early/mid 2000s, most suburban ID firms (at least the ones I knew about) paid between $45K to $60K, and that's where a great deal of law school graduates got deposited after graduation. So, these numbers seem a bit inflated to me.

Yet, I guess if you add the tiny handful of attorneys making multi-millions of dollars into the equation, the average will be a bit misleading.

Just my thoughts.

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confused1l93 (Aug 3, 2017 - 2:10 am)

This post has been done 100x. Next

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