National Jurist - January 2008 - (Page 34) years, firms may be losing money—and that money is likely to come out of the client’s pockets. Clients don’t mind training new associates on their matters, Cotterman said, but they’d like to know that they’re at least investing their time in someone who will be around for years to come. If there is increased pressure by clients to cut hourly rates and reduce attrition, there may be some changes—after all, clients have made a huge difference in demanding diversity from the law firms that serve them, Leipold said. To balance firms’ profit requirements with grads’ expectations of balance, some law firms are turning to cutting-edge ideas. McDermott Will & Emery, for example, has created a new class of associates. Think of them as full-time, salaried contract attorneys — who will work less (typically 30-40 hours per week,) charge less per hour and be paid less (initial whisperings suggest 25 percent less than regular entering associates, although no amount has been formally disclosed.) Other firms, like Reed Smith, are shunning lock-step salary structures and instead turning to merit-based compensation. At Reed Smith, associates’ hourly rates also differ based on practice area and other considerations, Lynch explained—so the associate working on complex private equity matters may charge more than an associate in the same class working on a simple employment case. This method cuts down on resentment between associates, too, Lynch said, The associate working longer hours than his peers isn’t miffed at the fact that he makes the same amount, because merit-based compensation allows for greater flexibility. Are salary increases working? If the point is to attract more top graduates, then salary increases have been somewhat successful: Some students choose to chase the money. They may come in committed to public service but can be swayed by increased salaries, said Michael L. Coyne, associate dean of the Massachusetts School of Law at Andover. “It does make it a lot harder for some students to keep the commitment they expressed at the time they were seeking admission to law school,” Coyne said. It’s not just the amount of money, but rather the vast gap between large law firm salaries and salaries everywhere else that’s making some students pick big firm practice — even if their original career plans included more legal aid Schools Average than billable hours. starting Pu b l i c i n t e re s t salary Nova Southeastern University, FL $57,154 minded students are $57,136 Quinnipiac University School of Law, CT tempted by the chance Creighton University School of Law, NE $57,125 to make $100,000 Syracuse University College of Law, NY $56,300 more per year by going Roger Williams University School of Law, RI $56,207 to a big firm. That kind Florida State University College of Law, FL $56,200 of difference can shift Valparaiso University School of Law, IN $56,000 career plans. Dayton School of Law, OH $55,892 “If students can get University of Kansas School of Law, KS $55,785 into these firms, they University of Memphis School of Law, TN $55,676 $55,588 New England School of Law, MA are now far more likely Campbell University, NC $55,000 to go in,” said Louis Gonzaga University School of Law, WA $54,803 Thompson, assistant University of The District of Columbia, DC $54,500 dean of career planning Northern Kentucky University College of Law, KY $54,463 at Temple University Oklahoma City University School of Law, OK $54,403 Beasley School of University of Missouri—Kansas City School of Law, MO $54,056 Law. University of Hawaii at Manoa School of Law, HI $53,800 Just a few years ago, $53,276 Albany Law School, NY Thompson said plenty Hamline University School of Law, MN $53,079 West Virginia University College of Law, WV $52,610 of high-performing University of Nebraska College of Law, NE $52,589 students could get into Widener University School of Law—Delaware, DE $52,518 large firms, but opted Regent University School of Law, VA $52,359 for smaller firms where University of Missouri—Columbia School of Law, MO $52,022 they could become risCUNY, NY $51,735 ing stars. Today, that Western New England College School of Law, MA $51,664 number has dwindled. Drake University Law School, IA $51,572 “Part of the reality University of Wyoming College of Law, WY $50,524 Willamette University College of Law, OR $50,500 is that you don’t start at Washburn University School of Law, KS $50,347 the job where you end Northern Illinois University College of Law, IL $50,295 up,” Thompson said. Ohio Northern University College of Law, OH $50,000 W h a t ’s m a k i n g Denver College of Law, CO $50,000 committed students Widener University School of Law—Harrisburg, PA $49,537 ditch their career plans? University of Maine School of Law, ME $49,062 To an extent, rising law University of Tulsa College of Law, OK $48,953 school tuition costs are University of New Mexico School of Law, NM $48,818 to blame. The average University of Idaho College of Law, ID $48,816 Vermont Law School, VT $48,804 amount borrowed by Thomas M. Cooley Law School, MI $47,500 students at private law Arkansas at Little Rock, AR $47,097 schools has topped out Appalachian School of Law, VA $45,000 at $83,181. Students Southern Illinois University School of Law, IL $43,958 at public law schools Baltimore School of Law $39,391 graduate with an averUniversity of South Dakota School of Law, SD $38,251 age of $54,509 in loans, according to the American Bar Association. That’s a departure from the actual average With that kind of money to pay back, debt with which law students graduate. A a public interest position paying a median 2003 ABA study estimated that law school of $40,000 or a government position offer- debt prevents about 66 percent of graduing a median of $48,000 may not seem ates from selecting public interest work. feasible. As a result, students are “making The most recent salary increases are parcareer choices based on how they’ll pay ticularly frustrating for students who don’t those debts,” Coyne said. have the academics and other qualifications Recent NALP commentary suggests needed for big firm employment: Their there is a significant long-term financial debt load has increased along with that of burden on graduates who choose public top graduates, Thompson said, yet their interest work: Manageable consolidated prospects of making $160,000 are slim. debt limits stand at $50,300 for governAt the same time, because top candiment attorneys and $41,100 for public dates are in high demand but short supply, interest attorneys, according to NALP. there is some indication that large firms are 34 THE NATIONAL JURIST January 2008 $ $ $ $ $ $ $ $
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