The blogosphere is abuzz with Amir Efrati's excellent WSJ page-1 story on the changing legal job market (see TaxProf, Prawfsblawg, Legal Ethics Blog, Ideoblog, and Leiter). Afrati's story took a lot of factual investigation, and I applaud him for tracking down so many relevant sources. Prospective students will benefit. In addition, the ABA is sure to take notice.
One of the graphics in the WSJ story was based on my recent survey of ISBA lawyers, though you have to dig to find it. Thus I am posting it here. This chart is a breakdown of change in lawyer income over the last five years (excluding retiring lawyers), broken down by respondent's firm size:
Nice chart.
But, what is it?
;-)
Posted by: C. Zorn | September 24, 2007 at 07:43 PM
Chris, I fixed it. Thanks for the prompt. bh.
Posted by: Bill Henderson | September 24, 2007 at 08:11 PM
The chart is poorly defined. Income can have both a "nominal increase" and a "real decline."
I think the 3 catagories you are looking for is "real increase" "nominal increase but real decline" and "nominal decline."
Posted by: Dork | September 25, 2007 at 09:27 PM
Dork, with all due to respect, a real decline includes a nominal increase that fails to keep pace with inflation. Nominal increases are only nominal--i.e., they do not bring any additional buying power.
Posted by: Bill Henderson | September 25, 2007 at 09:44 PM