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Danamz
LIF Adult
Member since 6/06 1978 total posts
Name:
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Re: Lawyer Salaries
I am an attorney as are many of my friends. I can tell you that many would be very surprised at how little money many attorneys make.
BTW...where do all of you $150K + work? 
Message edited 3/7/2008 10:50:14 PM.
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Posted 2/26/08 11:12 PM  |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: Lawyer Salaries
I'm sorry but I think you misunderstood me...by the "city" I meant the City of New York...DA's office etc...
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| Posted 3/3/08 4:55 PM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: Lawyer Salaries
Posted by Kara
Posted by MST9106
It really depends WHERE you work because WHERE you work takes into account where you went to school, your grades while in school, etc. With that said, a good NYC law firms will start you at around $250K and the city will start you at around $50-60K. I work for a legal department in a worlwide insurance company and the attorneys here start at around $150-200K with bonuses and other perks.
I'm not sure where you got your information, but it's incorrect. No one's starting out at NYC law firms earning $250k their first year. Currently, top pay in NYC is $160k for first years (right out of law school). With bonuses, total compensation for first-year associates at top-paying NYC firms were in the $195-205k range.
I don't know of any private companies paying first year (no experience) attorneys more than top NY firms either. 
I meant $250K including the salary, bonus, and all the other perks...sorry I should have clarified earlier.
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| Posted 3/3/08 4:58 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Lawyer Salaries
Posted by MST9106
Posted by Kara
Posted by MST9106
It really depends WHERE you work because WHERE you work takes into account where you went to school, your grades while in school, etc. With that said, a good NYC law firms will start you at around $250K and the city will start you at around $50-60K. I work for a legal department in a worlwide insurance company and the attorneys here start at around $150-200K with bonuses and other perks.
I'm not sure where you got your information, but it's incorrect. No one's starting out at NYC law firms earning $250k their first year. Currently, top pay in NYC is $160k for first years (right out of law school). With bonuses, total compensation for first-year associates at top-paying NYC firms were in the $195-205k range.
I don't know of any private companies paying first year (no experience) attorneys more than top NY firms either.
I meant $250K including the salary, bonus, and all the other perks...sorry I should have clarified earlier.
Still, that's not correct. Even with bonuses, no one is making $250k (or even close) their first year.
And what are these other "perks" you mention?
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| Posted 3/5/08 1:40 PM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: Lawyer Salaries
Salary, stock options, bonuses, lunches, transportation, etc.
This is what I was told by some of our attys here...I work in an in-house corp legal dept for a huge ins co and most of our attys are ivy leaguers coming in from top firms...
I guess they're not telling me the truth then?????...I don't think so.
Message edited 3/5/2008 3:33:18 PM.
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| Posted 3/5/08 3:32 PM |
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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Re: Lawyer Salaries
Posted by MST9106
Salary, stock options, bonuses, lunches, transportation, etc.
This is what I was told by some of our attys here...I work in an in-house corp legal dept for a huge ins co and most of our attys are ivy leaguers coming in from top firms...
I guess they're not telling me the truth then?????...I don't think so.
Are these attorneys hired right out of law school? I can't imagine why a company would pay an attorney with no experience $250K when the highest paid first year attorneys at NYC law firms make $160K (plus bonus).
There are additional perks that firms pay for (meals, bar association dues, CLE fees, car service, social events, etc), but I wouldn't include those in a person's salary.
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| Posted 3/5/08 5:02 PM |
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Ltdentway99
LIF Adult
Member since 9/06 1752 total posts
Name:
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Re: Lawyer Salaries
The bottom line for this.. the only people who come out of law school making this money are people graduating from Harvard, Columbia and the other top schools (which most lawyers do not graduate from). They typically start with 120-130,000
Posted by MrsS2005
Posted by MST9106
Salary, stock options, bonuses, lunches, transportation, etc.
This is what I was told by some of our attys here...I work in an in-house corp legal dept for a huge ins co and most of our attys are ivy leaguers coming in from top firms...
I guess they're not telling me the truth then?????...I don't think so.
Are these attorneys hired right out of law school? I can't imagine why a company would pay an attorney with no experience $250K when the highest paid first year attorneys at NYC law firms make $160K (plus bonus).
There are additional perks that firms pay for (meals, bar association dues, CLE fees, car service, social events, etc), but I wouldn't include those in a person's salary.
Message edited 3/7/2008 11:22:29 AM.
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| Posted 3/7/08 11:21 AM |
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BlondeJD
LIF Adult
Member since 10/06 1068 total posts
Name:
Me!!!
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Re: Lawyer Salaries
Posted by MST9106
Salary, stock options, bonuses, lunches, transportation, etc.
This is what I was told by some of our attys here...I work in an in-house corp legal dept for a huge ins co and most of our attys are ivy leaguers coming in from top firms...
I guess they're not telling me the truth then?????...I don't think so.
I think they're exaggerating a bit What Kara said re: starting salaries + bonus for associates is correct. To my knowledge, there are no stock options because no law firms are publicly traded. Some places may match 401K contributions, but that's pretty rare in my experience.
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| Posted 3/7/08 1:49 PM |
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BlondeJD
LIF Adult
Member since 10/06 1068 total posts
Name:
Me!!!
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Re: Lawyer Salaries
Posted by Ellebelle1
The bottom line for this.. the only people who come out of law school making this money are people graduating from Harvard, Columbia and the other top schools (which most lawyers do not graduate from). They typically start with 120-130,000
Or people who graduate in the top few spots at law schools outside of the top 10.
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| Posted 3/7/08 1:51 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Lawyer Salaries
Posted by Ellebelle1
The bottom line for this.. the only people who come out of law school making this money are people graduating from Harvard, Columbia and the other top schools (which most lawyers do not graduate from). They typically start with 120-130,000
This isn't true. Top pay is above $130,000 now and it's not only Ivy League or even top 10 school graduates who are getting the jobs.
My firm offers top pay for the NY area. Several, but not all or even most of my colleagues are from Ivy League schools. MOST of my colleagues are from tier 1 schools. The others (though fewer in number) were top 1% of the class from tier 2 schools, with Law Review or other significant journal experience. Lower-ranked tier 1 school grads were also probably toward the top of their class.
It's a myth that only the Ivy grads are getting the good jobs. Mostly, the best jobs go to graduates of top tier schools, however, they also go to graduates of well-respected, but lower ranked schools, who graduate at or near the top of their class.
Message edited 3/9/2008 10:25:34 AM.
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| Posted 3/9/08 10:15 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Lawyer Salaries
Posted by BlondeJD
Posted by MST9106
Salary, stock options, bonuses, lunches, transportation, etc.
This is what I was told by some of our attys here...I work in an in-house corp legal dept for a huge ins co and most of our attys are ivy leaguers coming in from top firms...
I guess they're not telling me the truth then?????...I don't think so.
I think they're exaggerating a bit What Kara said re: starting salaries + bonus for associates is correct. To my knowledge, there are no stock options because no law firms are publicly traded. Some places may match 401K contributions, but that's pretty rare in my experience.
Agreed that they're definitely exaggerating. There are no stock options for firm lawyers, but I believe in-house counsel at publicly traded companies may receive stock options as compensation.
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| Posted 3/9/08 10:17 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Lawyer Salaries
Posted by BlondeJD
Posted by Ellebelle1
The bottom line for this.. the only people who come out of law school making this money are people graduating from Harvard, Columbia and the other top schools (which most lawyers do not graduate from). They typically start with 120-130,000
Or people who graduate in the top few spots at law schools outside of the top 10.
Even beyond that -- The top students even at second tier schools (far below the top 10 law schools) can still get the top paying jobs (but rarely without a high rank and Law Review). Less common for sure, but it happens.
Message edited 3/9/2008 10:26:01 AM.
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| Posted 3/9/08 10:17 AM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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Re: Lawyer Salaries
the last law firm I worked for, a very big NYC firm, first year associates started at $175,000 a year. I do not know what the salary for the first years are in the firm I am at now.
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| Posted 3/9/08 11:02 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Lawyer Salaries
Posted by Lisa
the last law firm I worked for, a very big NYC firm, first year associates started at $175,000 a year. I do not know what the salary for the first years are in the firm I am at now.
You mean including bonus, right?
I work for a very big NY firm -- and right now, no big NY firms pay $175 per year salary to first years (or second years for that matter). 1st years start at $160k -- total compensation for a first year earning full bonus this past year was $205,000.
There was only 1 year where the starting salary for first years was $145k (and with bonus, if earned, would have been $175k). The next year, salaries went up to $160k for first years, and the year prior salaries were $125k for first years.
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| Posted 3/10/08 8:39 AM |
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Lillykat
going along for the ride...
Member since 5/05 16253 total posts
Name:
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Re: Lawyer Salaries
I think the salary varies greatly - I had classmates and friends who went to top firms making amounts listed above - but I also know a lot of people who came out making 40k with NO benefits. Honestly the salaries for attys on LI is not nearly as good as most people think it is. Again it really largely depends on what type of law you are practicing.
Unfortunately - no matter what you make coming out - everyone ends up with about the same amount of horrible loans.
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| Posted 3/10/08 4:48 PM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Lawyer Salaries
Posted by Ellebelle1
The bottom line for this.. the only people who come out of law school making this money are people graduating from Harvard, Columbia and the other top schools (which most lawyers do not graduate from). They typically start with 120-130,000
Nope, that's not true at all. I graduated from Temple Law in Philadelphia, which ranks 60th. Many of my classmates now work for the top firms in Philly, making $130k and above. In fact, a few of my friends, who didn't even graduate top of their class, are currently making that at the big firms they work at.
Your salary depends on a lot of factors - prior experience, law school grades, law school activity and career experience, the school you went to, and the kind of career you choose.
I was making, in Philly, in the 70's when I was working for a mid-sized firm. I transitioned over to a federal government position, where they gave me a slight raise.
I have friends who work at small firms making anywhere between $55k-$75k, friends who work for the city or state, making $35k-$55k, and friends who work for big firms making $135k-$180k.
Message edited 3/12/2008 12:45:32 PM.
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| Posted 3/12/08 12:30 PM |
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leighdvm
My golden boys!
Member since 3/06 4419 total posts
Name:
Michele
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Re: Lawyer Salaries
The lawyers here make over 150K.....They are patent attorneys, all having PhD's as well.....
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| Posted 3/14/08 5:24 PM |
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Re: Lawyer Salaries
There are now more grads coming out and less of those 145-160k/year jobs..
PS. I know this is an old topic but the info was good so I had to bump....
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| Posted 4/3/11 1:26 AM |
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jasmine
little boy blue <3
Member since 10/10 1475 total posts
Name:
x
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Re: Lawyer Salaries
Posted by BatGirl9910
There are now more grads coming out and less of those 145-160k/year jobs..
PS. I know this is an old topic but the info was good so I had to bump....
I agree that the high-paying jobs are harder to come by now. Also, there is great variation. the starting salary at most of the big NYC firms is $160k but it's a lot harder to get one of these jobs with the economy the way it is, and a lot of things changed with the current economic climate -- cutting and/or freezing salaries, deferring start dates, cutting back in other ways. (Ex: my firm used to start associates at $160 but cut and froze salaries to avoid deferrals and layoffs). Outside of the big firms, salary is generally much lower -- at least for associates. When I was in law school I was surprised to see that LI firms were paying 1/3 what the city firms were for starting attorneys and the hours aren't much better.
Most people graduate with a lot of student loans too, so law school isn't an automatic ticket to big money
Message edited 4/3/2011 6:18:46 PM.
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| Posted 4/3/11 6:17 PM |
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