SolutionsHire top legal talent for any scope of workGet Started Contact us to find the best fit for any in-house or law firm role Testimonials Trusted by the world's leading legal departments FAQ Frequently asked questions about working with Legal.ioEmployer Resources Tools and guides for hiring managers A National Association for Law Placement, Inc. (NALP) report provides an analysis of the employment market for law graduates in the year 2022.
A fascinating report by the National Association for Law Placement, Inc. (NALP) sheds light on the employment trends for law graduates in the year 2022.
A Historic Year for Law Graduate Employment
First off, the Class of 2022 has set a new record, achieving the highest overall employment rate in 35 years. A whopping 92.1% of law graduates found employment, surpassing the previous year's outcomes. This impressive feat is largely credited to the robust market recovery and the ongoing "talent wars" that have been a boon for recent graduates.
The BigLaw Attraction
The report also highlights an interesting shift in the employment landscape. It seems that the allure of the largest law firms, often referred to as "BigLaw", has been irresistible for many graduates. More and more are choosing to start their careers in these firms with 501+ lawyers, as opposed to smaller firms. This trend could be a reflection of the increased opportunities and higher salaries that BigLaw firms typically offer.
A Salary Surge
Speaking of salaries, the Class of 2022 has another reason to celebrate. The median salary for these graduates increased to $85,000, a $5,000 jump from the previous record set by the Class of 2021. And if you're wondering about law firm salaries, they've reached a new high too, with the median law firm salary hitting the $150,000 mark.
A Word of Caution
While these figures paint a rosy picture, the report also offers a word of caution. The current high employment rates and salaries may not be a permanent fixture. The legal market is expected to cool down, with potential associate layoffs and delayed start dates on the horizon. The Class of 2024 might have to brace for a tougher job market than their predecessors.
The Class of 2022 has certainly made its mark in the legal employment landscape. However, future law graduates should be prepared for potential shifts in the market.
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