This is an excerpt from a news article about the job market for recent law school graduates.This is an excerpt from a news article about the job market for recent law school graduates. The first section, `
` tags, is an editorial note introducing the daily “Quote of the Day” column. The second section, “, contains the main content of the article. Within the main content, the first paragraph discusses the high salary figures for the class of 2023 law graduates. The median salary has risen to $90,000 nationally and $165,000 at law firms, the ninth consecutive year of increases. The second paragraph quotes Nikia Gray, Executive Director of NALP, who cautions that the job market may be shrinking and that future classes may not fare as well. The overall employment rate for the class of 2023 was 92.6%, the highest ever recorded by NALP, and the unemployment rate was 5.8%, the lowest since 2007. However, Gray warns that the class of 2024 is larger than its predecessor and that hiring activity among Biglaw firms has recently hit an 11-year low. The third paragraph contains an image of Staci Zaretsky, a senior editor at Above the Law, and a brief bio. The final section, “, contains a Twitter widget and a link to the original article.
Editorial noteWelcome to our daily column, Quote of the Day.
Graduate salary figures reached new heights. For the fifth year in a row, the national median salary rose, to $90,000, with the median law firm salary reaching $165,000, a 10% increase over the previous year and the ninth consecutive year that this figure has increased. The class of 2023 did indeed perform well. But even with these incredible results, the data suggests that the market is beginning to shrink and that future classes may not fare as well. In short, the graduates of the class of 2023 will likely be the last beneficiaries of the talent wars.
— NALP Executive Director Nikia Gray, in remarks about the organization’s Class of 2023 Employment and Outcomes Report. The overall employment rate for the Class of 2023 was 92.6%, the highest ever recorded by NALP. The Class of 2023 also saw the lowest unemployment rate since the Class of 2007, at just 5.8%. But the good times may not last for subsequent graduating classes, Gray cautioned, likely due to the fact that the Class of 2024 is larger than its predecessor and hiring activity among Biglaw firms recently hit an 11-year low.
Staci Zaretsky is a senior editor at Above the Law, where she has worked since 2011. She would love to hear from you, so feel free to email her with any tips, questions, comments, or criticisms. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
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