Bad News About Lawyers’ Income – and Their Feckless Cybersecurity
September 7, 2022
Straight From the Headlines
Most of our IT, cybersecurity and forensics clients are law firms, so we were struck by new data we received that will likely interest (and depress) all lawyers.
As Reuters reported, it turns out that lawyers make less money today than they did in 2001 when inflation is accounted for.
So . . . the median annual income of U.S. lawyers dropped almost 2% from $129,389 in 2001 to $126,930 in 2020. That data comes from a paper which will be published in an upcoming edition of The Journal of Economics and Finance.
The rest of U.S. workers, again accounting for inflation, increased their purchasing power by almost 4% during the same time period.