What’s your degree earning you?
August 13, 2008
As a (proud) graduate of the University of Maryland, College Park, I’ll admit: I went to more than a few parties while I was there. I’m still surprised that the campus made Princeton Review’s list of “Top 20 Party Schools” last year - but, hey, I wasn’t involved in Greek life, so maybe my perception’s skewed.
Regardless, I’m pleased to read today in a PayScale report on graduates’ salaries that UMD ranks second on the list of party schools with “salary potential.” Supposedly, by mid-career (PayScale says typically, age 42 with 15.5 years of experience) a UMD graduate can expect to be earning $95K. (Obviously, this is highly dependent on area of expertise.)
UMD also scored well (No. 14) on the “Top State Universities” list, a broader category. (And if you squint and ignore all the schools based on the left coast, we’re easily inside the top 10!)
I nosed around for other local schools that were ranked but didn’t find any. If you see one I missed, let us know.
Data for the report was gathered from employees who completed a survey. Only employees who have a Bachelor’s degree and no higher degree were included.
JACKIE SAUTER, Web Editor
Top Party Colleges By Salary Potential
Law blog round-up
March 3, 2008
Here are a few law links for your unseasonably warm Monday:
- Dan Rodricks did a radio show last week on the Baltimore EXILE anti-gun program (PDF). In case you missed it, here’s a link. It was Feb. 27 from noon to 1 p.m.
- The EvidenceProf Blog discusses the Court of Appeals’ decision last month in Bellamy v. State (PDF), which dealt with the hearsay rule’s exception for admissions by a party-opponent. (The court said statements of the prosecutor in a criminal case fall into that category.)
- The Washington Post had a story yesterday giving the latest developments in the church-driveway dispute in Calvert County, which I wrote about last month in a story about the Religious Land Use and Institutionalized Persons Act. The lede (yes, that’s how it’s spelled in journalist-speak) is: “In a test of wills, church vs. state, the church wins the first round.”
- Top in-house lawyers are not doing too badly for themselves, a new Altman Weil survey says.
CARYN TAMBER, Legal Affairs Writer
Sphere: Related ContentObama, taxes and the mid-level associate
February 27, 2008
Legal scholar Ted Frank, a regular contributor to Overlawyered.com and Above the Law, says “BigLaw lawyers love Obama.”
They might not love him - or Frank - quite as much after reading Frank’s Tuesday post, where he lays out what Obama’s proposed tax policies (including ending the Bush tax cuts and the social security tax cap) will do to BigLaw wallets.
To illustrate his point, Frank calculates the effect of the tax changes on a mid-level BigLaw associate who is paid market value at a New York City firm. After he lists out his assumptions (she is single, maxes out her 401k, gives $10K/year to charity), he reveals the verdict:
The answer is that Obama’s tax increases have a bigger effect on your income than a law firm cutting New York salaries by $34,000.
Frank acknowledges, “Now, money isn’t everything. A BigLaw associate, who is already handsomely paid, might find it worthwhile to take the equivalent of a $34,000/year paycut to have Barack Obama as president instead of John McCain.”
But he also points out, “If you’re willing to reject a law firm over a few thousand dollars, how much money would sway your presidential vote and campaign contributions?”
Click here to download Frank’s excel spreadsheet, which you can edit with your own information. (Note: it will only work for taxable income above $78,850).
What do you think?
JACKIE SAUTER, Web Editor
Court reporter + overtime = six-figure salary?
February 25, 2008
My ears always perk up when I hear about a study that’s revealed career paths with surefire six-figure salaries. This morning, my ears were rewarded with (sorry, not six figures) the next-best thing: blog post material.
Yahoo! Education says that there are (at least) ten jobs sure to provide you with that coveted salary, without the need for a law or medical degree. And at No. 7, a familiar title: Court Reporter.
Now, you might be skeptical. After all, the Department of Labor found that court reporters had median annual earnings of $45,610 (May 2006).
But Yahoo! points out that they have “the chance to make much, much more money than that.” How?
“Document backlogs in certain cities have pushed overtime pay for court reporters to record levels. The court reporter who adds freelance transcribing for private depositions and business meetings to a base income can crack $100,000 per year.”
If you’re still on the fence, maybe this will push you over: employment of court reporters is projected to grow 25 percent between 2006 and 2016.
Do you know any court reporters who supplement their income this way? Is it realistic for future court reporters to expect to cobble together a six-figure salary?
JACKIE SAUTER, Web Editor
Sphere: Related ContentMore on big-firm salaries
February 7, 2008
Some more news on the big-firm salary front: the largest of the truly Maryland-headquartered firms, Miles & Stockbridge, is up to $140,000. The increase, which is as of the new year, is a $15,000 bump from last year’s rate.
That puts Miles at the same salary level as Ballard Spahr’s Baltimore’s office. Both firms are $20,000 lower than the Charm City offices of Venable and DLA Piper, two firms born here but now playing with the big boys on a national level.
Miles chairman John Frisch says the raise doesn’t come with a billable-hour requirement hike. Miles remains at 1850, lower than Piper or Venable.
CARYN TAMBER, Legal Affairs Writer
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