LoginA new report has found that more law school graduates are finding jobs at large firms in the United States.
According to the National Association for Law Placement (NALP), the number of jobs accepted by the class of 2012 at firms with more than 500 lawyers rose 27 percent over the past year, Bloomberg reported.
Despite the fact that legal hiring still remains below pre-economic downturn levels, the NALP found that the overall job picture for young lawyers is improving.
"The employment picture remains decidedly mixed," NALP executive director James Leipold said. "However, with the Class of 2012, we see the beginning of a rebounding private practice sector, particularly at large law firms – and, with that, we see some rebounding salary numbers."
When it comes to salaries, the national median starting range was up slightly this year – from $60,000 in 2012 to $61,245. However, for the new graduates who landed jobs at larger firms, that annual average salary rose to $160,000.
Meanwhile, it appears as if recent law graduates aren't the only ones who are seeing large wages. The American Bar Association reports that lawyers who specialize in oil and gas in Texas are also seeing starting salaries in the $160,000 range, NPR reported.
Officials say the fracking industry has attracted more firms to the Houston area.