Law Commons^™

Efficiency-Wage Theory And Law Firm Pay, Dongyu "Eddie" Wang

University of Michigan Journal of Law Reform Caveat

Every first-year law student knows that Big Law pays $160,000 a year. In fact, this number is likely the biggest incentive for applying in the minds of most law-school hopefuls. Taking New York City as an example, a quick look at Vault’s salary data reveals that, indeed, the large majority of New York firms with available salary data pay first-year associates exactly $160,000.