Lawyer Salaries in 2017: A Comprehensive Analysis
In 2017, the legal profession continued to offer competitive salaries, with lawyers' earnings varying significantly based on factors such as location, experience, and specialty. This article delves into the intricacies of lawyer salaries in 2017, providing a comprehensive overview to help aspiring and practicing legal professionals understand the financial landscape of the legal industry.
Average Lawyer Salaries in 2017
The U.S. Bureau of Labor Statistics (BLS) reported that the median annual wage for lawyers in 2017 was $119,250. However, this figure can be misleading, as lawyer salaries can vary greatly. To better understand the distribution of earnings, consider the following BLS data:
- 10th percentile: $57,430
- 25th percentile: $80,910
- 75th percentile: $187,200
- 90th percentile: $208,000
Highest-Paying Industries and States
Lawyers in certain industries and states commanded higher salaries in 2017. According to the BLS, the following industries offered the highest mean annual wages for lawyers:
| Industry | Mean Annual Wage (2017) |
|---|---|
| Securities and commodity brokers | $197,300 |
| Law offices | $141,620 |
| Government | $109,610 |
Meanwhile, the following states offered the highest mean annual wages for lawyers in 2017:
| State | Mean Annual Wage (2017) |
|---|---|
| District of Columbia | $191,700 |
| California | $169,920 |
| New York | $168,140 |
Factors Affecting Lawyer Salaries in 2017
Several factors influenced lawyer salaries in 2017. These include:
Experience and Seniority
Lawyers with more experience and seniority typically commanded higher salaries. According to the National Association for Law Placement (NALP), associates in their first year earned a median salary of $120,910, while those in their sixth year or more earned a median salary of $190,000.
Specialty
Lawyers specializing in certain practice areas tended to earn more than others. For instance, intellectual property lawyers and trial lawyers often commanded higher salaries than lawyers in general practice.
Location
As previously discussed, lawyers in certain states and metropolitan areas earned higher salaries than their counterparts in other regions. Additionally, lawyers practicing in urban areas generally earned more than those in rural areas.
Law Firm Size
Lawyers working for large law firms typically earned more than those working for small firms or in solo practice. According to NALP, lawyers in firms with 500 or more lawyers earned a median salary of $190,000, compared to $110,000 for those in firms with 2-9 lawyers.
Conclusion
In 2017, lawyer salaries varied significantly based on factors such as location, experience, specialty, and law firm size. While the median salary for lawyers was $119,250, the 90th percentile earned $208,000 or more. Understanding these trends can help aspiring and practicing lawyers make informed decisions about their careers and negotiate competitive salaries.
