NEW YORK, May 29, 2012 (GLOBE NEWSWIRE) -- Paralegal pay continues to rise for both law firms and law departments, according to the Annual Compensation Survey for Paralegals/Legal Assistants and Managers, 2012 Edition, released today.
The survey by ALM Legal Intelligence, a leading source of business intelligence for the legal profession, was conducted in partnership with the International Paralegal Management Association (IPMA) and has been conducted annually since 2002. The report tracks compensation, billing rates and billable hours for paralegals, based on responses from 274 law firms and law departments representing more than 8,775 paralegal positions.
This year, the survey reflected a few changes in order to better accommodate the informational needs of its constituents: paralegal titles were refined to include job functionality and years of service; salary is expressed on an hourly basis, allowing compensation data to be more readily applicable to the variety of standard work weeks for the participating organizations; and overtime reporting was eliminated since this data is not readily applicable to setting base salary or bonus levels.
Key findings from the survey included the following:
- The number of organizations granting salary increases increased once again this year. Salary increases rose from 87.2% of respondents in 2011 to 92.1% in 2012 for paralegal positions that are exempt from wage-and-hour regulations and from 90% to 96% for non-exempt paralegal positions.
- Due to methodology change, base compensation is not able to be compared to that of previous editions. However, assuming a 40 hour work week and 52 week/year schedule, compensation for most paralegal/legal assistant titles appear to have increased in 2012.
- The top two highest paid (hourly) positions in 2012 are Litigation Support/Technology Manager ($77.72) and Paralegal Director ($67.73) on the law firm side, and Paralegal Manager ($59.05) on the law department side.
- The 2012 Survey shows increases in bonuses for half of the positions where data was available to compare to the 2011 edition. Case Manager and Litigation Support/Technology Manager saw the biggest increases on the firm side; Paralegal and Paralegal Managers saw big increases on the law department side.
- Law firm paralegal average billing rates increased or remained relatively the same in 2012 for the paralegal positions that have comparable data for 2011. Rates ranged from $134 an hour for a Case Assistant up to $299 for the Specialist/Industry Analyst position.
To purchase a copy of the survey report, please visit www.almlegalintel.com. IPMA members or organizations with IPMA members may be eligible for a discount and should phone 888-770-5647 to order a copy.
About ALM Legal Intelligence
ALM Legal Intelligence offers detailed business information for and about the legal industry, focused on the top U.S. and international law firms. The division's online research Web service, www.almlegalintel.com, provides subscribers with direct, on-demand access to an extensive database of surveys, rankings and lists related to law firms and the legal industry. The site also includes an online store where non-subscribers can, on an individual basis, purchase and download preformatted individual law firm reports, research reports and selected current-year survey data. ALM Legal Intelligence is a division of ALM.
About the IPMA
The International Paralegal Management Association (IPMA), founded in 1984 as the Legal Assistant Management Association, promotes the development, professional standing and visibility of paralegal management professionals and consists of members throughout the United States and Canada as well as parts of Europe, Asia and the Caribbean. More information on the IPMA can be found at www.paralegalmanagement.org.
About ALM
ALM, an integrated media company, is a leading provider of specialized business news, research and information, focused primarily on the legal and commercial real estate sectors. ALM's market-leading brands include The American Lawyer, Corporate Counsel, GlobeSt.com, Insight Conferences, Law.com, Law Journal Press, Law Technology News, LegalTech, The National Law Journal and Real Estate Forum. Headquartered in New York City, ALM was formed in 1997. For more information, visit www.alm.com.
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