Median pay for 2011 law grads in private practice is $85,000, an 18 percent drop from 2010 and more than one-third below the 2009 salary of $130,000, according to the National Association for Law Placement. Average pay has declined 15 percent since 2009. It is now $97,821. The number of large firm jobs has also declined. Two years ago 33 percent of lawyers held jobs in firms with 250+ attorneys. Only 21 percent of lawyers from the 2011 class had jobs in large firms.
To see how the economy has affected other white collar jobs, please click here for a blog post from the Wall Street Journal.