By Above the Law and iManage
Download: MPF FEATURED WHITE PAPER – Solo-Small Firm Compensation Survey – 1-12-24.pdf
More than one thousand (1,000) attorneys participated at firms with 50 or fewer lawyers. At 32 pages, the report breaks down compensation down by seniority, firm size, practice area, geography, and other variables. Here are a few highlights:
- For partners, twenty-six percent (26%) earn $500,000 or more. Twenty-six percent (26%) earn $250,000-499,000. Twenty-five percent (25%) earn $150,000-249,000.
- For associates, sixty-one (61%) earn between $75,000 and $149,000. Bonuses as a percentage of base pay range 5-15%.
- Most attorneys earned at least five percent (5%) more in 2023 than the prior year.
- Generally, larger firms pay more than smaller firms. Urban firms pay more than rural firms.
This report includes some worthwhile benchmarking data to consider as you set compensation for your firm.