Associates
Largest Firms Are Deferring Deferrals, For Now
Posted Jun 18, 2009 5:00 AM CST
By Molly McDonough
Their new associate start dates have always been September. And economy be damned, most top law firms plan to honor their start date commitments.
So says an article by the American Lawyer, which reports that most of the 10 most-profitable Am Law 100 firms have avoided deferrals despite concerns of overstaffing in the fall.
Of course, there's a glaring exception. Cravath Swaine & Moore last week announced a plan to pay incoming associates $80,000 to wait until next year.
Another top 10 firm, Schulte Roth & Zabel, is making yearlong deferrals mandatory.
The rest, however, plan to start their associate classes on time. Those firms include Wachtell, Lipton, Rosen and Katz; Paul, Weiss, Rifkind, Wharton & Garrison; and Quinn Emanuel Urquhart Oliver & Hedges.
"Our start date is, and has always been September for new associates," a Paul Weiss rep told American Lawyer. "There will be no optional deferrals."
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Comments
B. McLeod
Jun 18, 2009 9:09 AM CST
Yes, always and immutably in September, for so long that the mind of man runneth not to the contrary. God forbid that ever it should be not in September, though Heaven and Earth should fail. So let it be written!
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David
Jun 19, 2009 6:58 AM CST
Read into it the following. “We want our incoming associates to be able to focus on the Bar exam for now. After they take the test we’ll send out the announcement that their start dates have been deferred, but shhh, it’s a secret.”
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SR
Jun 20, 2009 4:57 PM CST
$80K to NOT work for a year? Sign me up!
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KS
Jun 23, 2009 6:17 PM CST
Can I PLEEEEEEEEEASE be paid $80K to take a year off???
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