The 'NLJ 250', Market Salary, and Math: Employment Data

(Applications Advice, Letters of Recommendation . . . )
bigben
Posts: 703
Joined: Sat Sep 29, 2007 2:44 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby bigben » Mon Apr 19, 2010 1:06 am

romothesavior wrote:What data did you use and what did you do to make this graph? (I'm completely math-clueless, so I really am interested).

The reason I ask is because this graph seems to indicate a pretty sizeable "midlaw" type of pay range, and the general consensus on TLS is that midlaw is very, very small. So am I mis-reading your graph, are you wrong in your numbers, or is TLS wrong in its assessment?


You can start by reading the rest of the thread..the chart is based on data that only includes 50% of grads and it seems that it is practically the top 50%. Moreover, the data is from before the economy went south. There was a lot more big law hiring then than there is now, maybe twice as much or more.

Frank
Posts: 218
Joined: Sun Oct 19, 2008 8:25 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby Frank » Mon Apr 19, 2010 8:07 pm

.
Last edited by Frank on Mon Sep 27, 2010 1:47 pm, edited 1 time in total.

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby 09042014 » Mon Apr 19, 2010 8:10 pm

The graph shows only 20% of new grads earn between 145K and 75K. And plenty of big law in smaller markets pay 120Kish.

User avatar
stratocophic
Posts: 2207
Joined: Tue Dec 22, 2009 6:24 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby stratocophic » Mon Apr 19, 2010 8:17 pm

Frank wrote:
romothesavior wrote:
2plus2muchMath wrote:Image

I know - I capitalized salary like it was a proper noun or diety... its late and you just are supposed to capitalize titles.

edit - this was using the 2008 salary distribution graph posted earlier.


What data did you use and what did you do to make this graph? (I'm completely math-clueless, so I really am interested).

The reason I ask is because this graph seems to indicate a pretty sizeable "midlaw" type of pay range, and the general consensus on TLS is that midlaw is very, very small. So am I mis-reading your graph, are you wrong in your numbers, or is TLS wrong in its assessment?

It is small
+1 Not all Biglaw consists of 160k jobs. The going rate in tertiary markets like St. Louis, and Nashville is closer to 100k than 160k; some of the firms that offer that sort of salary are in the NLJ 250. The areas in which the line is steepest are the ones that have the most people earning that rate; the shallower regions are less populous. The region between 75k and 125k represents less than 25% of new lawyers (I assume these are starting salaries?), and a fair amount of those encompassed by that region are people in cities with the lower market rates for Biglaw employees.

Edit: Beaten to it by DF.

User avatar
Aberzombie1892
Posts: 1907
Joined: Sun Mar 29, 2009 10:56 am

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby Aberzombie1892 » Mon Apr 19, 2010 8:24 pm

Something that a lot of people are missing...

The bimodal salary chart is a sample of roughly half of all salaries [url]http://www.elsblog.org/the_empirical_legal_studi/2009/06/the-end-of-an-era-the-bimodal-distribution-for-the-class-of-2008.html
[/url]

I understand that it claims "more than half." But ~22,000 is barely -and I mean barely - over half of the graduates for that year.

Therefore the chart is useless.

True, people with the highest salaries will always report. But the 24% at $160,000 is actually closer to 0% than 24% (if you get what I mean). NALP states that only 10% of all graduates get big firm jobs. Thus 24% at $160,000 automatically makes the chart invalid.

Many big law firm offices in secondary markets pay between $80,000-$125,000 and this is not reflected in the chart. Not only that, but many "mid law" firms pay in that range as well.

True, there is not much available in terms of data for salary prospects for lawyers. But this chart is woefully inaccurate to the point which it is useless.

****On a side note: if NALP had the time to survey half of the graduates, they should have just surveyed them all.

User avatar
JollyGreenGiant
Posts: 995
Joined: Tue Apr 17, 2007 9:12 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby JollyGreenGiant » Mon Apr 19, 2010 10:30 pm

Am I wrong in assuming that schools like the T6 could place essentially everyone in the nLJ250 if they wanted? (But some students prefer govt, clerkships, etc.?)

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: The 'NLJ 250', Market Salary, and Math: Employment Data

Postby 09042014 » Mon Apr 19, 2010 10:52 pm

JollyGreenGiant wrote:Am I wrong in assuming that schools like the T6 could place essentially everyone in the nLJ250 if they wanted? (But some students prefer govt, clerkships, etc.?)


Not now they can't. But that used to be just about true. Even MVPBDNC came damn close to being able too.




Return to “Law School Admissions Forum”

Who is online

Users browsing this forum: brendo17 and 5 guests