One solution for employee salary, stock and variable pay.
www.workstreaminc.com
Get Insider Firm Profiles, Legal Job Listings, Salary Surveys, More!
www.Vault.com/Law
Automate the Admin & Calculation of Incentive Compensation Plans.
www.Varicent.com
CA Wage Law Attorney Call us for a free consultation.
www.CaliforniaWageLawAttorney.Com
Mercer has the data you need. Visit us and learn more today!
www.imercer.com
Federal and State Minimum Wages Federal Workplace Compliance Poster
www.MarkKnuckles.com
Information regarding salaries in the legal industry.
www.abbott-langer.com
One solution for employee salary, stock and variable pay.
www.workstreaminc.com
Get Insider Firm Profiles, Legal Job Listings, Salary Surveys, More!
www.Vault.com/Law
Automate the Admin & Calculation of Incentive Compensation Plans.
www.Varicent.com
Guide to Law Salary Tools
How to offer appropriate lawyer salariesSetting specific salary guidelines and performance benchmarks requires a lot of planning and research. The ultimate goal should be coming up with a compensation plan that boosts productivity but also fits in with your bottom line.
A number of factors go into determining salary of a lawyer, including:
1. Law salary depends heavily on location. A lawyer in a small Midwest city isn't going to expect as much in salary as a lawyer working in a major coastal metropolis.
2. The area of law expertise or the particular position within the firm can sway salary. Corporate law salaries are usually the highest.
3. Legal salaries are lower at a smaller firm or one that is set up as a non-profit.
4. Salary of a lawyer will also depend upon years of experience.
Action Steps
The best contacts and resources to help you get it done
Research legal salaries
Quite a bit of lawyer salary survey information can be found online. That information can help you determine what salaries are appropriate and develop compensation policies.
I recommend:
Mercer's ePrism and Mercer PayMonitor tools may prove to be helpful. Or check out Vault for law salary information. You must, however, sign up for a gold membership to access full details.
Educate yourself on lawyer salary information by attending a webinar
Standards in salaries change constantly. Keeping informed on trends in the human resources and management fields can prove to be beneficial. Depending on your position, attending a webinar could also count as continuing education hours.
I recommend:
The Economic Research Institute's distance learning center offers a variety of human resources courses for free. For a fee, various salary management webinars are available from WorldatWork.
Consider purchasing software to help with setting lawyer salaries
A number of software companies offer compensation packages to help out with the task. Make sure you review all of the functions before you purchase, as some may not apply specifically to the law field. If anything, you may find the software good as a guide.
I recommend:
Order a free trial, schedule a demo or get a product tour of Halogen Software's eCompensation software package. Or check out LaserBeam Software for its LaserComp 4.0 software. View a slide show about the software and see what the application looks like.
Tips & Tactics
Helpful advice for making the most of this Guide- Average lawyer salary for those in private practice with 4 to 9 years of experience can range from $118,000 to $184,000 at a large law firm. If the firm ranks in the Top 100 firms in the United States, the average salary can top out at $500,000 or more annually.
