We’ve reported on a few firms that have paid incoming associates a stipend to, essentially, go away. In each of the previous cases, the offer has been to the entire incoming class. Fenwick & West was slated to have 24 new associates start, once their deferrals expired, and has offered some of them $60k to go away. No hard numbers yet on how many were given the offer or how many accepted. As always tipsters, if you have information for us, send it anonymously here.
Founded in 1972, Fenwick & West LLP is a full service law firm focusing on technology and life sciences clients. The corporate, intellectual property, litigation and tax groups service clients from a wide range of additional industries. Approximately 300 attorneys work from offices in Silicon Valley and San Francisco, California; Boise, Idaho; and Seattle, Washington. The firm is headquartered in Mountain View, California.
Attorney Career Resources is sponsored by BCG Attorney Search, the nation's leading placement firm, specializing in law firm placements.
Law firms of all sizes are being much more selective about who makes equity partner. Gone are the days where doing good work and putting in your time is enough to get you to a profit sharing level. Today, equity partners almost always have to prove that they can contribute their share to the firm. So what does this mean for associates and how can a two-tiered partnership track be beneficial? With a two-tiered partnership structure, associates get more time to prove themselves and also more time to determine whether partnership is the right goal for them. Two-tier partnerships (non-equity and equity) exist so the firm can train and develop associates into equity partners. The non-equity track to partner at most firms is on average, 6 years long. [...]
May 16, 2013 Read More
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