It is well-documented that attending a top law school provides the best return on investment. A recent survey confirmed in-house lawyers who attended a top 20 law program reported earnings significantly higher than those who did not.
The study, sponsored by the Association of Corporate Counsel and consulting firm Empsight, collected over 2,000 responses from in-house legal professionals. Respondents with a law degree from a U.S. News top 20-ranked school garnered 25 percent more in base salary and 41 percent more in total cash compensation, compared to other lawyers.
The survey also called out other factors associated with higher compensation:
Legal specialty: Base salaries for lawyers in IP/patent litigation, entertainment, and licensing/royalty practices tended to land above the median salary, whereas those in insurance, government relations, and risk management typically fell below the median.
Firm experience: Lawyers who gained experience at firms prior to moving in-house earned salaries 20 percent higher than those who went directly in-house after graduation (a less common career trajectory). Less than one-fifth of respondents, 17 percent, went directly to in-house work after law school.
Years of work experience: Lawyers who graduated prior to 2000 have salaries that are 45 percent higher and total cash compensation that is 86 percent higher than those lawyers who graduated after 2010.
The survey also collected data on non-compensation benefits. The majority of respondents, 79 percent, reported that their employer offers remote work options. Just under two-thirds, 64 percent, take advantage of the offering by working a hybrid schedule. Twenty-four percent reported that they work fully remote.