Talent Wars Drive Up Associate Salaries and Threaten Lifestyle Firms

According to a new report from the National Association for Law Placement, first-year associate salaries are up at all firms, with the median base salary for first-year associates being $200,000 as of January 1, 2023, up $35,000 from 2021. The report also notes that the greatest percentage salary growth was seen at firms of 100 lawyers or fewer, where median first-year salaries increased by 29.2%. Geography continues to have a considerable impact on salary differences across regions, cities, and states.