Paralegal Manager, Specialists Earn Top Dollar, New Survey Reports
(Newtown Square, PA, May 20, 2004) - The 2004 Annual Compensation Survey for Legal Assistants/Paralegals and Managers has just been released. The survey was conducted by Altman Weil Publications, Inc. in partnership with the Legal Assistant Management Association.
The Survey reports the significant divergence between compensation for paralegal managers and specialists and other paralegals. In 2004 Legal Assistant Managers averaged 81.4% higher total cash compensation than paralegals without supervisory experience.
“Paralegal managers and specialists clearly hold increasingly important positions in law firms and law departments,” notes Altman Weil Principal, Daniel J. DiLucchio. “As legal organizations become more sophisticated, this is just one more area in which greater specialization is required – and must be adequately compensated.”
Salary
Nationally, the average salary for Legal Assistant Managers (the most senior position surveyed) was $88,781 in 2004, up 6.2% from 2003. Senior Legal Assistants (with some supervisory and training responsibility) earned $63,381, 5.3% more than in 2003.
In contrast, Legal Assistants/Paralegals (paralegals without supervisory responsibility) earned an average salary of $47,453 in 2004, up only 1.7% from the prior year, while Legal Assistant Clerks brought home $32,185, up .9%.
Bonus and Overtime
Annual bonuses added an average $2,447 for Legal Assistants/Paralegals, $4,514 for Senior Legal Assistants and $7,774 for Legal Assistant Managers, according to the Survey. Overtime compensation added more, with Legal Assistants/Paralegals receiving an average $5,728 in overtime and Senior Legal Assistants receiving $10,624. Legal Assistant Managers rarely report any overtime compensation.
Specialists Also Earn More
Special training or expertise can dramatically affect paralegal compensation. Paralegals designated as Specialists earn average total cash compensation (salary, bonus and overtime) of $79,014 according to the Survey. Corporate Specialists led their peers, taking home $98,062 in total compensation, followed by Environmental Specialists at $94,157 and Government/Legislative Specialists at $90,938. On the low end, Insurance Specialists averaged $63,352 in total cash compensation.
…And Have Higher Billing Rates
Paralegal Specialists command the highest average billing rate of all positions surveyed at $166/hour, compared to $163/hour for Legal Assistant Managers and $127/hour for Legal Assistants/Paralegals.
Government/Legislative Specialists’ billing rate was $208/hour. Environmental Specialists billed an average $206/hour, and Corporate Specialists billed $203/hour. Again, at the low end, Insurance Specialists billed $130/hour on average.
Data Collection and Reporting
The 2004 Annual Compensation Survey for Legal Assistants/Paralegals and Managers is based on data collected in 2004 from 330 law firms and 73 law departments and encompasses a total of 11,990 legal assistant positions.
The Survey reports on seven distinct paralegal positions from the most senior Legal Assistant Manager to Legal Assistant Clerk/Project Assistant. Law firm and law department data is reported cumulatively and comparatively. Data was collected on salary, overtime, bonus, total cash compensation, benefits, billable hours, and billing rates – and is reported by position and stratified by type of organization, size of organization, location, exempt/non-exempt status, years in the profession, and practice area where applicable.
The Survey is available from Altman Weil Publications for $395. Orders and inquiries may be made by calling 1-888-782-7297 or by visiting the Altman Weil’s online store at https://store.altmanweil.com.
Altman Weil Publications, Inc. conducts and publishes numerous surveys on the legal profession including the Survey of Law Firm Economics, the Managing Partner and Executive Director Survey, and the Law Department Compensation Benchmarking Survey. For additional information visit our website at www.altmanweil.com.
The Legal Assistant Management Association (LAMA) promotes the development, professional standing and visibility of legal assistant management professionals. More information on LAMA can be found at www.lamanet.org.
