Salary's have just about doubled in that time. To be exact, going rate is $160k plus a 40K year end bonus. Though some firms are trying to lower the bonus to pay for the salary. They will do so at their peril. Salary Wars

Salaries have gone up first to battle silicon valley for talent and now due to increased business. Its really about the fact that little hiring is done outside the top 14-20 law schools. We could hire from other schools and get the work done, maybe even a little better. But its all about prestige and credentials, and, of course, ego.