WolfBlock to New 1st-Years: We'll See You in November
Faced with a business slowdown, Philadelphia-based WolfBlock has told its incoming first-year class to take a vacation.
“The firm said all but one of eight recent law school graduates were told not to report for work until Nov. 10 rather than the normal start date shortly after Labor Day,” reports the Philadelphia Business Journal (scroll down to WolfBlock item). The one who will be starting in September is doing so in the 300-attorney firm’s New York office, to help with its busy bankruptcy practice, rather than in Philadelphia as originally planned.
So far, WolfBlock is the only large Philadelphia firm to confirm that it is postponing start dates for new associates, although others are rumored to have been considering this option, according to the article.
It says the firm is providing a $5,000 stipend to help tide these incoming associates cover expenses between now and November. However, that works out to an annual salary of about $30,000 a year—albeit, for not doing any work—compared to the $135,000 they will be paid once they start as associates at the firm, notes Above the Law.
Related coverage:
ABAJournal.com: “Financial Issues May Be Holding Up WolfBlock-Akerman Merger”
