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No, that’s terrible. This isn’t 2005. You need to be at 90.
What market are you in? That sounds awfully low to me, especially if you’re supervising a person, but you might be in a low cost of living area.
This could absolutely be market dependent. I’m in a higher COL living area and PI paralegals start around $55 to $60k without any experience. Also, the OP mentioned they had 5 years of experience and were responsible for supervising another paralegal so if they are only getting around $55k, they are woefully underpaid.
You need to consider your market size to help determine fair pay. In larger markets, $55K would be at the lower end. In small markets and particularly in small firms, you might be lucky to be paid a few bucks above minimum wage.
You can consult such websites as salary.com for typical paralegal pay at your experience level. Also go to your state labor department and BLS websites.
FWIW I've been retired since 2006. I had eleven years of experience in multiple specialities. I had my B.S.B.A. and earned a paralegal certificate later before going into law. I would have loved to have been paid $55K.
Because you are supervising. I say no. You should at least be making 65
If you are strictly litigation, $55,000.00-$60,000.00 is the overall average in New Mexico, Texas, and Arizona within a few bucks. I have a couple of decades of PI experience functioning in every aspect from initial phone call, intake, opening of file, arranging medical care where applicable, drafting every letter, ordering and summarizing medical records, obtaining all incident-related medical bills, subrogation ledgers and other evidence, preparing simple and complex demand letters, negotiating settlements and medical expenses and subrogation liens. In matters I cannot get resolved, I draft the complaint and handle the file through discovery and/or mediation. I am in New Mexico and don't get out of bed for less than $60,000.00 plus bonuses.
How many hours do you work? Or regularly bill daily? How’s your workload? And have you checked salaries in your area to compare? It sounds low to me but maybe 55k is appropriate where you live (?) if low-cost of living…?
Be careful
About jumping ship. ST it’s
Not a good idea specially in today’s economy.
Are you at a plaintiff firm? What type of law? PI? If yes, that sounds about right.
That salary seems fair, but it might depend on the part of the country you are in. My thought is that if you could get experience in another area, something that would give you litigation experience or probate/estate, etc. you could earn more money. I would take less money to start in another area to get the experience. It will be worth it because you will then be experienced in that new area and can move on to a higher paid position. Maybe you could even talk to your current firm about letting you work on some litigation cases too. Good Luck!