Law blog AbovetheLaw carries an item on “poor lawyers”, a reference to declining incomes and struggling job-seeking or advancement-struggling lawyers who are now regarded as ‘too poor to date’.
Harsh words, but according to the blog, a comment between two young ladies indicated that it was simply not worth dating lawyers because they’re too poor – “it’s so sad” she was heard to say.
Well, kind of true. The law jobs surveys and the overall market in major law markets like the US and the UK indicate that there are some struggling firms and jobs remain tight. But incomes overall for associates and others remain high for the Big Law firms, even if the year-end bonuses were not quite what they used to be – David Boies firm and others, excepted, of course.
And in other jurisdiction in the Mid-East, Asia and Australia and New Zealand there are some high incomes, relative particularly to local salaries, still being earned. The Australian reported this week that that country’s resources boom had lead to some high salaries being paid, with West Australian in-house lawyers in the top quartile of a recent survey at over $318,000.
The survey showed 61 per cent of the lawyers earned $100,000 – $200,000 and 80 per cent also received some value-added package as well.
To date them? Well, maybe they’re not transnational currency traders and bankers, who appear have resurged from the GFC to make killer incomes, but most in firms and in-house are not doing too badly. Certainly enough to pay for a secure, dating lifestyle.