Corporate Counsel Weekly™ helps corporate lawyers get the big picture on the legal challenges facing corporations today. Practitioners can discover trends on the horizon and stay alert to the full...
By Kelsey Penna
June 19 — New law school graduates from the class of 2013 found more jobs and higher starting salaries for the second year in a row, but the overall employment rate continues to fall.
That's according to an employment report conducted by the National Association for Law School Placement (NALP) released June 19. A historically large graduating class is to blame for the 0.2 percent decrease in employment rate, down from 84.7 percent for the Class of 2012, NALP said.
“In general, the picture that emerges is one of slow growth, and growth that is a blend of continued shrinkage and downsizing in some areas offset by growth in other areas,” James Leipold, NALP Executive Director, said in commentary accompanying the report.
There are signs of modest improvement, with just more than half, 51.1 percent, of employed graduates obtaining private practice jobs as of February 2013. This is up from 50.7 percent for the class of 2012 and is the highest since 2010, according to the report.
Since NALP, a Washington-based nonprofit education group, started collecting employment data in 1985, the percentage of jobs in law firms has mostly been in the 55 to 58 percent range. Both large and small firms have continued to rebound from their low point in 2011.
For two-thirds of the new graduate jobs reported as full-time and lasting at least a year, the national median salary for the class of 2013 was $62,467, compared with $61,245 for 2012. It is the second year-over-year increase in the overall median since 2008, but still substantially lower than the $72,000 median salary from that year.
To contact the reporter on this story: Kelsey Penna in Washington at email@example.com
To contact the editor responsible for this story: Meg McEvoy at firstname.lastname@example.org
Full text of the findings is available at www.nalp.org/classof2013.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)