Yes it is based on 2011 data but:
ANDWe know that the overall employment rate for the class of 2011 is lower than it’s been in 17 years. But even members of the class of 2011 who managed to secure employment have been screwed. Median starting salaries for new law school graduates have dropped by 35% over the past two years.
That looks pretty bad. To emphasize the point, let’s look at THE MOST IMPORTANT CHART for prospective lawyers: the bi-modal salary distribution curve. This chart shows that the median and mean salary statistics severely overstate the likely salary for law school graduates. Instead of getting the mean, this chart shows that a lucky few students will spike a Biglaw salary around $160K, while the vast majority of law students will end up making significantly less than the median or mean.
Sorry I couldn't copy the chart for some reason - you have to go to the ATL article.
http://www.abajournal.com/news/article/ ... _figure_d/
New law grads in private practice are no longer taking home median paychecks in the six figures.
The erosion in BigLaw jobs is depressing the salaries for all class of 2011 law graduates, according to new statistics from NALP–The Association for Legal Career Professionals.
Law grads from the class of 2011 are earning median pay of $60,000, a 5 percent drop from 2010 and a 17 percent drop since 2009. Average pay is $78,653, a 15 percent drop since 2009. The figures are for grads who found full-time employment in jobs lasting at least a year.
The drop in starting pay is even more pronounced when only private practice jobs are considered, according to a press release. Median pay for 2011 law grads in private practice is $85,000, an 18 percent drop from 2010, when the median was $104,000, and a 35 percent drop since 2009, when the median was $130,000. Average pay in private practice is $97,821, a 15 percent drop since 2009.
"This drop in starting salaries, while expected, is surprising in its scope," NALP executive director James Leipold says in the press release. "Nearly all of the drop can be attributed to the continued erosion of private practice opportunities at the largest law firms."
Starting pay of $160,000 is still the norm at large law firms, but the share of BigLaw jobs has dropped, putting downward pressure on the median, the press release says. In addition, some large law firms are hiring new grads in staff attorney positions at salaries less than $100,000.
Nearly 60 percent of 2011 law grads who obtained jobs in private practice were working in firms of 50 or fewer lawyers, compared to 53 percent of 2010 grads, and 46 percent of 2009 grads. (The figures don't include grads in solo practice.) Meanwhile, only 21 percent had jobs in firms of more than 250 lawyers, compared to 33 percent two years ago. The private-firm employment figures include both part-time and full-time jobs, permanent and temporary jobs, and those that do not require bar passage.