Whether new lawyers land jobs at giant international firms, where salaries recently hit $135,000, or at small practices in the Midwest and elsewhere, they are paying up to 267 percent more for their education, compared with costs in 1990. That means beginning lawyers -- especially those in midsize and small firms -- are shouldering much more debt at graduation, a situation that some observers fear will lead to more loan defaults, attrition and job dissatisfaction. "It stinks," gripes one associate.
As Salaries Rise, So Does the Debt
The National Law Journal
February 1, 2006
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