Scraps from the briefcase for prospective law students and lawyers:
Pay and Workweek Differentials by Law Firm Size from the Empirical Legal Studies blog charts the relationship between law firm size, associate salaries, and associate happiness. It reports that the median salary spread over the first eight years of the associate track amounts to $631,000 for associates in firms with 2-25 lawyers versus those with 500+ lawyers and to $524,000 for associates in firms with 51-100 lawyers versus those with 500+. It’s no surprise that big firm lawyers make more money but I’ve not seen a calculation showing exactly how much more. It also reports that almost 47% of lawyers at 500+ firms work more than 60 hours/week. The number of lawyers working more than 60 hours/week is 27.2% at firms with 51-200 lawyers, 19.4% at firms with 16-50 lawyers, 19.3% at firms with 5-15 lawyers, and 16.1% at firms with 1-4 lawyers. Last, it reports that 36.2% of those in firms with 1-4 lawyers report a very satisfactory work/family balance, compared with 31.3% in firms with 5-15 lawyers, 9.7% in firms with 16-50 lawyers, 10.3% in firms with 51-200 lawyers, and 4.9%–4.9%!!!— in firms with 200+ lawyers. I’ve summarized the findings. Read the original for more data and analysis.
Will Lawyers Continue to Exist? at Human Law Mediation blog entertains the notion that information technology and the ability to carve up legal work into discreet tasks–commoditization of legal work–will transform the profession. If you want an example read this piece from Legal Affairs: Are your lawyers in New York or New Delhi?
Last, Tax Prof Blog hashes data from the Princeton Review’s Best 170 Law Schools and rates schools in categories such as Professors Rock (BU is #1) and Students Lean to the Left (my alma mater Northeastern is #2).
How about a survey of undergraduate business school law faculty? Now there’s a niche market.