Despite the economic downturn, paralegal salaries continue to climb, according to Legal Assistant Today magazine’s 17th Annual Salary Survey, published in the March/April 2009 issue.
This year’s survey reports that the national average salary for paralegals in 2008 was $54,859, a 3.5% increase from the previous year. The highest reported full-time salary was $103,000.
Paralegals received an average raise of $2,990 in 2008 while the largest reported raise was $25,000. Slightly over three quarters of all paralegals were given a raise and nearly 75% of paralegals surveyed believed they were paid fairly.
Top earning paralegal specialties on the law firm side included intellectual property, commercial, products liability, and contracts. On the corporate end, high-earners were employed in corporate governance, securities, and mergers and acquisitions.
While paralegal salaries increased, the number of paralegal positions within law firms and other work environments largely remained the same. 65% of respondents reported that the number of paralegal positions in their organization did not change in 2008; however, 20% of respondents reported an increase in paralegal positions.
How does your salary compare to these figures? Paralegals who seek to negotiate their or a raise can use these statistics as leverage for more compensation and hiring managers can get a read on the national and local market. The March/April 2009 issue features an article on how to use the salary survey results to your advantage.