nealric wrote:If I remember correctly, number of entry-level biglaw (defined as NALP-member firms paying 160k market or secondary market rate) slots has fluctuated between 2,500 and 5,000 or so. There are something like 25,000 new law school grads per year. So between 10 and 20% of law school grads get what can be defined as biglaw.
160k is the base pay. Market bonus for first year associates in NYC (other markets are hit or miss on bonus) has fluctuated from 30k (2007) to 7.5k (2010).
I'm a first-year associate at a 160k NYC firm if you have any questions about what it's like.
There have been just over 40,000 new grads over the past few years. The Class of 2009 had about 43,000.