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.
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As Salaries Rise, So Does the Debt
The National Law Journal
February 1, 2006
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