Talent Wars Drive Class of 2022 Law Graduates to Record-High Salaries

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The National Association for Law Placement (NALP) released figures on Wednesday revealing that the national median salary for the class of 2022 law graduates surged to an all-time high of $85,000. This represents a remarkable 6.3% increase from the median salary of $80,000 recorded for the class of 2021, as detailed in an official press release dated August 2. The NALP’s comprehensive report, which focused on selected employment findings, showcased the substantial impact of this trend on the legal job market.

A standout finding from the report was the average salary for the class of 2022, which skyrocketed to $116,398. This substantial uptick, also at 6.3%, stands in stark contrast to the average salary of $109,469 reported for the class of 2021. Notably, the median salary for law firm positions secured by the class of 2022 reached an impressive $150,000. This is a substantial leap from the $131,500 median salary recorded for the class of 2021. Similarly, the median salary for roles within public-interest jobs experienced a noteworthy rise, reaching $62,000—a significant improvement from the $58,000 median salary noted for the class of 2021.

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These salary figures were derived from reported data as of March 15, considering law graduates in full-time positions lasting a minimum of one year. Beyond the salary surge, the report unveiled various other intriguing insights into the class of 2022’s employment landscape:

• The employment rate for law graduates with confirmed employment stood at an impressive 92.1%, slightly exceeding the 91.9% rate observed for the class of 2021.
• Notably, 79.9% of law graduates secured positions for which bar passage was either required or anticipated. This represents the highest percentage recorded since 2001, marking a significant milestone in the employment market.
• The percentage of law graduates entering roles within firms boasting over 500 lawyers surged to a historic high of 32.8%, underscoring the allure of such opportunities.
• Surprisingly, a mere 0.9% of law graduates opted for solo practice, marking a record low for this category within firm jobs.

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Officially titled “Jobs & JDs Employment for the Class of 2022 Selected Findings: Employment Market for Class of 2022 Law Graduates Reaches 35-Year High,” the report encapsulates the unprecedented achievements of the class of 2022 in the legal job market. Nikia L. Gray, the executive director of NALP, penned her observations within the report, acknowledging that the prevailing market conditions have propelled the class of 2022 to surpass the already impressive accomplishments of the class of 2021. Gray cautiously noted that the last two years of employment data should be interpreted with a discerning perspective.

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Gray’s words alluded to the current shifts within the legal landscape, emphasizing that 2023 has brought news of a cooling legal market, associate layoffs, and delayed start dates. These developments indicate the potential for a temporary market correction following the post-pandemic recovery, hinting at the possibility of a more challenging job market for future graduates. While the class of 2022’s achievements stand as a testament to their tenacity and market demand, the evolving dynamics underscore the ever-changing nature of the legal industry.

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