The good news is that despite all of that, the employment outcomes and salary findings for members of the Class of 2020 are remarkably strong, and although in many cases they fall short of the highwater marks notched by the Class of 2019, they showcase a resilient job market for new law school graduates.
To the extent that the employment profile is somewhat weaker than that of the previous class, it is not likely to mark the beginning of a downward trend in the numbers, but instead is likely to be a pandemic-related blip, with stronger numbers following for the Classes of 2021 and 2022 as the economy around us generally and the legal economy specifically have been booming as the pent-up demand from the pandemic-lockdown’s end has been unleashed.
Fueled by overall private practice growth, students from the Class of 2020 were able to secure jobs at a higher rate than many had predicted. That is good news for law schools, law school graduates, and the legal profession as a whole, and barring any unforeseen bumps in the road, there is reason to be cautiously optimistic for the employment outcomes for the Class of 2021.
— James G. Leipold, executive director of the National Association for Law Placement, commenting on the better-than-expected employment and salary outcomes for the law school Class of 2020, despite their classes, bar exams, and job interviews being pushed online due to the coronavirus crisis.
Overall, the employment rate for 2020 graduates fell to 88.4% (down by about two percentage points, from 90.3% for the Class of 2019), with the percentage of graduates with jobs requiring bar passage decreasing from from 76.2% in 2019 to 74.6% in 2020. About 57% of graduates took jobs in private practice, the highest this percentage has been since 2003. The national median salary for the Class of 2020 rose to an all-time high of $75,000 (up 3.4% compared to the Class of 2019), while the national median law firm salary rose to $130,000 (up 4% compared to the Class of 2019), finally matching the law firm starting salary measured for the Class of 2009, an all-time high.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.