Here is a little gem that was posted by Above the Law:
Effective May 1st, the Gardere will reduce first year salaries to $145,000 and second year salaries to $150,000.
Clients are upset about the high price of junior attorneys? That’s great, junior attorneys have long been upset at clients that dump work on people at 4:00 p.m. on Friday and expect it to be turned around by first thing Monday morning. Surely, a middle ground will soon be forged where clients pay less and attorneys enjoy the fruit of nights and weekends. I’m holding my breath.
$145,000 is a lot of money, I realize that. But the $15,000 pay cut is not trivial, particularly for prospective 1st years with plans to pay down their student loans at an accelerated rate.
I’ve been hearing rumors that the state of the legal job market has had a notable impact on the choices of next year’s incoming law students, who are placing more emphasis on the cost of attendance when choosing between admission offers from comparably ranked schools. This trend should benefit the elite public schools–I’m assuming their average LSAT scores will go up. Will their USNWR rankings follow?
Read the full article: Expected Salaries