Law Practice Management
MoFo Further Delays Start Date, Will Pay $5K Per Month + Medical Insurance Cost
Posted May 4, 2009 7:43 PM CDT
By Martha Neil
In the latest announcement of yet another BigLaw firm delaying the start date for incoming first-year associates, Morrison & Foerster has pushed it back from November 2009 to April 2010 for an unspecified number of attorneys.
But even then the firm won't need all of the new associates it has agreed to hire, according to an internal memo published by Above the Law. So MoFo is offering a continuing stipend of $5,000 per month, plus the cost of medical benefits up to $500, for those who defer their start to Jan. 4, 2011, "subject to acceleration to a mutually agreeable earlier date as need arises."
The stipend, which also applies to those who begin in April of next year, starts in November. Plus, there's a further sweetener for those who make productive use of their time as volunteers while waiting to start work at MoFo in 2011: "Those who defer their start date and who work full time without compensation at least 10 months during that period for an approved 501(c)(3) nonprofit will receive an additional $15,000 when they join the firm," the memo states.
Incoming first-years have a week to decide which deferral option they wish to pursue.
Related earlier coverage:
ABAJournal.com: "To Defer or Not to Defer? Like a Day Off, Late Job Start May Not Be a Career Plus"
ABAJournal.com: "Stroock Deferral Options for New Grads: $50K to Delay, $75K to Go Away"