Money can be a powerful incentive. For some, it can justify long hours or uninteresting, tedious work if it means a six or seven-figure paycheck. For others, all the money in the world cannot buy happiness or self-worth. No matter what your views are, as an attorney, it is important to know your market value and what you can expect in terms of compensation. The LawCrossing Salary Survey is conducted annually and collects salary information at many of the top firms in the country. LawCrossing seeks to help attorneys be better informed so that they can make decisions that match their career goals.
Most law firms follow a pay structure where salary is dependent on the attorney’s “class year,” or the number of years they have been out of law school. When attorneys mention that they are willing to be “flexible on their class level,” that means that they are willing to be flexible on the compensation they would normally expect for their class year. Instead of being paid as a sixth year, for example, they might be willing to receive the compensation of a 4th year attorney. Some lawyers believe that being flexible on salary makes them more marketable to law firms. While this can be true, many of the law firms advertising openings on LawCrossing have a specific need for an attorney at a given class level because they are looking for a certain level of corresponding experience. In these instances, they might not be interested in any other class years, even if the interviewing attorney is willing to accept a lower salary.
When letting a law firm know of your salary expectations, keep in mind that different positions will have different pay scale expectations. In general, in-house, public sector/government, and non-profit position will offer less money than a law firm. At the same time, simply because an attorney decides to go into the private sector does not mean that he or she will make more money, guaranteed. Smaller law firms or solo practitioner firms are usually less able to offer the type of six-figure salaries that have become customary at mid-sized or larger law firms. If the firm is a boutique firm or only services a single practice area, it will usually not have the same budget and workflow as a larger, full-service firm.
The LawCrossing salary survey is released annually and gives an overall picture of law firm compensation at firms in the United States as well as overseas. Reviewing the average salaries at law firms can help attorneys get a better grasp of their market value and what to expect if they decide to make a move to a different firm. At the same time, it is important to remember that the number provided on LawCrossing’s salary survey are the figures provided by firms at the time that the survey was taken. Law firms may take into account a wide variety of factors in determining how much to offer an attorney, based not simply on their class year, but their experience, credentials, and overall worth.
For attorneys looking for jobs on LawCrossing, it can feel crude to put a numerical value on their “worth” as a lawyer. At the same time, knowing your worth can help you have proper expectations when interviewing with a potential firm, as well as be better equipped to negotiate salary expectations with an employer.
Most law firms follow a pay structure where salary is dependent on the attorney’s “class year,” or the number of years they have been out of law school. When attorneys mention that they are willing to be “flexible on their class level,” that means that they are willing to be flexible on the compensation they would normally expect for their class year. Instead of being paid as a sixth year, for example, they might be willing to receive the compensation of a 4th year attorney. Some lawyers believe that being flexible on salary makes them more marketable to law firms. While this can be true, many of the law firms advertising openings on LawCrossing have a specific need for an attorney at a given class level because they are looking for a certain level of corresponding experience. In these instances, they might not be interested in any other class years, even if the interviewing attorney is willing to accept a lower salary.
When letting a law firm know of your salary expectations, keep in mind that different positions will have different pay scale expectations. In general, in-house, public sector/government, and non-profit position will offer less money than a law firm. At the same time, simply because an attorney decides to go into the private sector does not mean that he or she will make more money, guaranteed. Smaller law firms or solo practitioner firms are usually less able to offer the type of six-figure salaries that have become customary at mid-sized or larger law firms. If the firm is a boutique firm or only services a single practice area, it will usually not have the same budget and workflow as a larger, full-service firm.
The LawCrossing salary survey is released annually and gives an overall picture of law firm compensation at firms in the United States as well as overseas. Reviewing the average salaries at law firms can help attorneys get a better grasp of their market value and what to expect if they decide to make a move to a different firm. At the same time, it is important to remember that the number provided on LawCrossing’s salary survey are the figures provided by firms at the time that the survey was taken. Law firms may take into account a wide variety of factors in determining how much to offer an attorney, based not simply on their class year, but their experience, credentials, and overall worth.
For attorneys looking for jobs on LawCrossing, it can feel crude to put a numerical value on their “worth” as a lawyer. At the same time, knowing your worth can help you have proper expectations when interviewing with a potential firm, as well as be better equipped to negotiate salary expectations with an employer.