Ouch! August 27, 2022 by Robert Huntington Median lawyer income is dropping, when adjusted for inflation, study finds Lawyer income appears to be increasing, but that?s not the case if you take inflation into account, according to a new study. www.abajournal.com
In a sense, lawyers have done remarkably well. The fraction of GDP that was legal services dropped by half and the fraction of the population that is lawyers increased by a little more than a quarter, and yet the median lawyer income decreased only 2%.
I’d like to see some data on *mean* lawyer income; I get the feeling that the distribution of income in the legal field is really uneven.
It’s extremely uneven and largely correlates to the clients’ income. Big corporate firms representing corporations and wealthy individuals pay $180,000+ to first year associates just out of law school. Immigration lawyers, representing poor, often undocumented immigrants, will never make that kind of money in a year.