Most of the nation’s 1.3 million attorneys work in private practice, and most of those attorneys practice in small law firms.
And yet it is surprisingly difficult to find detailed information about compensation in the world of small law.
To help fill that gap, Above the Law began surveying solo practitioners and small firm lawyers about their pay.
Now, with our friends at iManage, we are pleased to release the results of our fifth Solo & Small Firm Compensation Survey.
We surveyed more than 1,000 attorneys at firms with 50 or fewer lawyers over the summer and fall of 2023, asking them to provide the following information:
- Total annual compensation
- Target bonus (as a percentage of base pay)
- Average raise
- Percentage of total compensation based on collections
- Percentage of total compensation based on origination fees
- Percentage of firm revenue derived from their book of business
Their responses have been aggregated and segmented by demographic, including position, firm size, practice area, geographic region, year of law school graduation, and gender.
Whether you are looking to benchmark your current pay, considering joining a small firm, or launching your own practice, we hope this report serves as a useful resource.