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2 Am. B. News 1 (1957)

handle is hein.journals/ambrnw2 and id is 1 raw text is: American Bar New a monthly news bulletin of the .American Bar Association Vol. 2 No. 1 January 15, 1957 U. S. Survey Reports Lawyers' Average Income Up 36 Percent Since '47 A wide disparity in the income of lawyers is shown in the results of a nationwide survey just published by the United States Department of Commerce. It showed the average net income of all lawyers en- gaged in legal practice was $10,220 in 1954, an increase of 36 per cent compared with the average of $7,530 for 1947, the last year covered in a similar study. However, the median income-more typical of what the typical lawyer earned-was shown to be $7,830 in 1954 as compared with $5,700 in 1947. About 43,000 questionnaires were mailed in the sur- vey, of which more than 10,000, or 25.2 per cent, were returned. The Commerce Department said it used a list supplied by a commercial service, embracing all states and grouped both as to ABA members and non-mem- bers. The sampling was made by sending the question- naire to every fifth name on both lists. Here, in brief, are some of the survey findings: e Payrolls of lawyers were about 52 per cent higher in 1954 than in 1947. Rents and other costs of practice increased even more, from $2,230 on the average in 1947 to $3,680 in 1954. e The number of lawyers in individual practice declined from 75 per cent in 1947 to 65 per cent in 1954. * More lawyers are reliant upon a business clientele. In 1947 about 29 per cent reported they received more than half their gross income from business; in 1954 this percentage was 33. * Average income was directly related to size of law firms. Lawyers in firms of five to eight members averaged over three times the earnings of those in sole practice. 1 Salaried lawyers in private industry had an average in- come of $13,770; the average salary of civilian, nonjudicial government lawyers was $7,390. e Lowest average salary ($5,639) was reported by lawyers in towns under 1,000 population and the highest ($12,709) in cities over one million. A direct relationship was found to exist between the size of income and the size of the community. * Significant differences were shown between regions. The Middle Eastern region, including New York and Pennsylvania, ranked first in average income ($11,520) while the Northwest region was low with an average of $8,420. The highest average of any state was $12,180 for California. e Lawyers aged 55 to 59 were at their earning peak, al- though income was relatively stable between ages 45 and 65. Maximum earnings were not attained until after 25 years of practice. (Continued on Page 2) Please Tell Us: Would You Like a Binder for the News? A number of individual lawyers, law firms and li- braries have inquired about a binder for the American Bar News. We are considering offering such a binder at cost, and would like to know how many of our readers would be interested in having one. The binder we have in mind would be the looseleaf type, with a black flexible cover imprinted with the pub- lication name in gold leaf on both the front cover and the spine. Its one-inch rings would accommodate about two to three years' issues of the NEWS. The binder price would not exceed $1.50. If you would like to have such a binder will you please send us a post- card or letter, or clip out this item and mail it to us with your name and address? The responses will determine (1) whether a sufficient demand exists to justify a bulk order, and (2) if so, about how many binders will be needed. Address: American Bar News, 1155 East 60th Street, Chicago 37, Illinois. Over 3,400 Sign Up 50 Plus Group Life Plan Effective Jan. 1 The new 50 Plus group life insurance plan for American Bar Association members aged 50 to 70 went into effect officially January 1. The required minimum of three thousand enrollments was reached on Decem- ber 17, just 30 days after the plan was offered! By the end of December well over 3,400 applica- tions had been received, and the underwriter, the New York Life Insurance Co., announced it was putting the plan officially in force as of the first day of 1957. Seldom has a group insurance program offered by a professional association received such an immediate, universal acceptance. Each enrollee under the new plan receives $5,000 of insurance. Thus, the plan went into effect with a minimum of $15 million of insurance in force. This brings to more than $55 million the insur- ance protection established for ABA members under the two group life plans instituted within the last two years. The first plan was for lawyers up to age 56. Enrollments are continuing under both programs. No medical examination is required under either, the only requirement being a brief statement of health. Inquiries should be addressed to: American Bar Group Life Plans, 1155 East 60th Street, Chicago 37, Illinois.

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