In the 16 years since I was a summer clerk, profits per equity partner have more than doubled. The associate comp. scale has increased 20k in the same period. People wonder why associates are leaving for other jobs….

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I mean, it’s like this all across the American economy. Turns out Reaganomics doesn’t really trickle down.

likesmart

I personally thought the associate salary increase was a response to people leaving the law entirely. I am personally planning to do an M7 MBA program in the next couple of years and try to break into tech after seeing what my husband is making at a large tech company.

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Double damn. Thank you both for sharing.

Associates make less than now they did in 2005 when taking inflation into account.

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This isn’t accurate. You can make your point with real numbers and it still is pretty good. In 2004, top NYC firms were at $125k. It went to $145k in 2005/06 and then was escalated to $160k in early 2007. So unless you were summering 14, not 16, years ago, this isn’t true. It also would be a cherry picked date even if correct.

This isn’t to say associate salaries have kept up with PPP. You can use real info, though. Also, bear in mind the points articulated in this admittedly old piece: https://lawprofessors.typepad.com/legal_profession/2008/07/how-the-cravath.html

I’m sorry - those numbers are exactly accurate for my firm. I wasn’t talking about big law generally, or New York. I was speaking to the 1000 lawyer firm I’ve worked in my whole career and using the actual PPP and the actual changes to the associate scale. I wasn’t speaking about generalities.

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