Law Practice Management
WolfBlock to New 1st-Years: We’ll See You in November
Posted Aug 26, 2008, 01:27 pm CST
By Martha Neil
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"
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Comments
Posted by A.J. - 4 months, 1 week, 3 days, 11 hours, 51 minutes ago
These graduates have a job at more than double the going rate in Philadelphia for first year associates, other than at the big firms. Many grads, some as talented and many as hard-wrking as those going to Wolf Block and its peer firms, are without jobs for 1+ years after school in this market. It is hard to sympathize with people who will be stepping into high-paying jobs, albeit two months later than expected, and getting paid for their R&R.
Posted by Michele Everett - 4 months, 1 week, 3 days, 11 hours, 45 minutes ago
Many of my classmates (‘07) in Philly (including several in the top 1/3 of our class at the law school rated #2 in Penna.) are still without permanent jobs a year later. Those who have landed jobs, usually at $45-55k, are happy as can be. A two month enforced vacation, with some money and presumably benefits, is not exactly a “hardship.” Law is a business with its ups and downs, and students have to learn that quickly in this era. They can take per diem work like many of my classmates had to do. Anyway, once they start at a big firm, they will wish they had a couple of months off to rest.
Posted by M.A. - 4 months, 1 week, 3 days, 11 hours, 41 minutes ago
Good lesson for those working at firms like this. Shows what they can expect: it is 100% business and you are nothing more than an assembly line worker who will be worked like a dog to justify an outrageous 135,000++ compensation, and canned when you are no longer needed. You are just a P.C. or a mail clerk.
Posted by J. Sootland - 4 months, 1 week, 3 days, 11 hours, 29 minutes ago
Assuming 1:3 partner to associate ratio, that’s an immediate bonus of $1,000 per partner without feeling any pain. Good call, especially since young associates are useless and annoying anyway.
Posted by pitty me - 4 months, 1 week, 3 days, 10 hours, 4 minutes ago
The corporate world can’t wait to use these first year experienced attorneys who bill at $400 an hour so we can pay their $150,000 a year salary to review documents in a warehouse.
Posted by Small-Firm Atty - 4 months, 1 week, 3 days, 10 hours ago
I didn’t find satisfaction until I left large-firm life. What a joke it was. These kids don’t know what kind of a blessing it is that they will have to wait until November rather than starting next week. By May `09, most will either be fired, in rehab for alcoholism, or completely bored from working on one type of case, having never stepped foot into a courtroom, and still wondering what the hell it means in a deposition when the other side says “Object to form” (in the depositions they are summarizing, because first-years don’t even get sitter depositions). My advice to them is to RUN!!! RUN FAR, FAR AWAY!!! IT’S NOT WORTH IT!!!
Posted by Hadley V. Baxendale - 4 months, 1 week, 3 days, 9 hours, 31 minutes ago
Fungible billing units.
Back in the day, and perhaps still in small firms that put the profession ahead of the business, you hired an associate only if you planned to make her a partner. You knew that there would always be work for a good attorney at any age. And just as all boats rise with the tide so do they fall; down times were shared across the board (not by firing but by lower raises for associates) or by the equity owners as is the way business is supposed to work. If a major client or piece of business left, you found work or even carried those who were displaced. And the way you got rid of a partner was to put him onthe bench!
Posted by Emily Simpson-Miller - 4 months, 1 week, 3 days, 8 hours, 28 minutes ago
I have never responded to comments on these stories before, but I feel compelled to do so today. I continue to be disappointed by the willingness of those who I presume are experienced attorneys to assume the worst of graduating law students who choose to work at a large firm. I am among those graduates, and I know people who will be starting at WolfBlock in November. I can assure you that most of them do not want your pity (nor your “pitty”). Additionally, most of us are not spoiled children, we do not feel entitled to a well-paying job (or any job, for that matter), and we do not expect our road to be a smooth one. We have worked hard to get where we are, and plan to work even harder to transition from law student to lawyer. Most of us thought long and hard about whether to join a large firm, having been warned time and again of the personal sacrifices involved. We have seen that it is not the right environment for many people, and most of us are nervous about entering this new phase of our lives. Then, we read our weekly ABA news email and see an anonymous, soon-to-be-colleague assuring us that in a year we will be jobless alcoholics. I hope that the day never comes when I have become jaded and desensitized enough to say such a thing to a young associate, much less broadcast it over the Internet. And in response to the commenter who noted that young associates are “useless and annoying” … well, perhaps we are, but everyone has to start somewhere, and most of us are working hard to become useful. If, as many of you so spiritedly assure us, we will not get moral support at our firms, it would at least be nice to not be attacked by strangers on the Internet. I am excited and happy to be joining a large firm, where for the past year I have been treated with nothing but kindness and respect. I realize that by putting my name on this comment I am opening myself up to further attack, but I find anonymity distasteful.
Posted by Rachael - 4 months, 1 week, 3 days, 8 hours, 6 minutes ago
Emily,
There are many of us in the profession that love being lawyers, and have liked many things the big firm has to offer. I remember when I was applying to law school, my mother telling me that people who discourage me until I had “made it” and then they would respect me. Which is exactly what has happened. Big firms have their issues and can be very frustrating (I have been in at one for my entire 7 year career), but there is also a lot of reward in being an attorney and many resources that you can take advantage of if you are at a big firm. I have been encouraged by the talent that I have seen in the young summers here at my firm (especially the women) and am excited what that means for our practice.
Of course you guys are nervous and plan to work hard. We were all there once, and we all remember being nervous, remember comitting to working hard, and should remember how useless we were ourselves. As much as people like to complain on this website about their big firms and their partners, they do not realize that they become the partners by treating you all in a way that they did not like to be treated.
Law is a noble profession and very rewarding profession. I wish you and all your classmates the best of luck.
Posted by Ick! - 4 months, 1 week, 3 days, 7 hours, 41 minutes ago
Rachael - you have likely worked hard and dserve all your “warm fuzzies.” But you also likely have not yet been stabbed in the back, screamed at for no apparent reason, had a true-blue anxiety attack because you think you might actually be fired because someone blamed you for their mistake, been passed over for that plum case or deal for someone who is not nearly the lawyer you are but happens to tell funny jokes with the boys and is better liked, and not yet had a vacation cancelled for no apparent reason. (or you don’t really work at BigLaw.) Wait until you do; your tune will change. And if you spend the rest of your carreer at BigLaw(?) under the wing of and enjoying the protection of whatever rainmaker partner has been looking out for your this far, well then, enjoy. But please save your Pollyanna musings for another website. Blech!
Posted by Ick! - 4 months, 1 week, 3 days, 7 hours, 41 minutes ago
Excuse me: “deserve”
Posted by Bird Smack - 4 months, 1 week, 3 days, 7 hours, 12 minutes ago
I’ve worked at BigLaw and small-law. I prefer small-law for none of the reasons cited by the various commentators. I find it amusing, nonetheless, that these commentators seem to believe that backstabbing, yelling, disrespect and other nefarious conduct is relegated to BigLaw. You are so sadly mistaken. I see it in small firms that I represent. I see it in mid-sized firms that my friends work at. Nastiness is not a product of BigLaw. It can occur anywhere to anyone - male or female (i.e., its not a gender-based thing, lck!.
Posted by HVB - 4 months, 1 week, 3 days, 6 hours, 35 minutes ago
Emily, you are one of the (apparent) few who made a critical and informed assessment of your professional lifestyle, and with that, you will kikely be successful and fulfilled. Most of the ones who wash out or complain “assumed” a law degree was a ticket to big and easy bux. I would bet that few second generation lawyers are “fooled” b/c they have the same insight as you (btw I am 3rd generation).
I recall mnay years ago a survey of associate satisfaction for large firms, and the one—the only one-that had a positive rating was the one who told the associates: “You will work ungodly hours, you will have no time for a social life, it will be stressful but you will work on the biggest cases/deals in the country.”