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Survey Says: Paralegal Pay Remains Solid
Despite daily servings in the news of economic doom and gloom, there is good news for paralegals, writes Chere Estrin at The Estrin Report. The reason for her optimism is a just-released survey of paralegal compensation showing solid increases in paralegal pay at law firms and legal departments alike. The survey was conducted by Altman Weil Publications Group (a division since March of this blog's owner ALM) in conjunction with the International Paralegal Management Association. Among the survey's findings:
- Paralegal compensation in U.S. law firms and corporate law departments showed solid increases over the previous year, above the rise in the cost of living.
- Paralegals working in law firms received somewhat higher increases than their law department peers, For exempt paralegals at firms, salaries increased by an average of 4.9 percent, compared to 3.8 percent in corporate law departments.
- Within law firms, the highest paid paralegals were litigation support/technology managers, who earned a median annual base compensation of $115,000.
- The average hourly billing rate for paralegals was more than $150, with rates for most positions exceeding $175.
- Paralegal case managers in law firms averaged 1,642 billable hours, followed by senior paralegals at 1,530.
Good pay plus rational hours add up to good times for paralegals. The full survey can be purchased for $525 from LawCatalog.com.
Posted by Robert J. Ambrogi on July 2, 2008 at 02:04 PM | Permalink
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