JD Journal » deferral stipends

Winston & Strawn Pushes Back Start Dates for Deferred Associates

joshua — Tue, 03 Nov 2009 17:16:31 +0000

Winston & Strawn’s class of 2009 associates were deferred back in April, and were scheduled to begin mid January of 2010. Now the firm has pushed those start dates back again. The class is being divided into three groups starting at different times. The lucky ones will begin in February, and the rest will either start at the beginning of June or the beginning of October, 2010. Keep in mind that these are lawyers who graduated in June of 2009, some of whom will now have to wait 16 months to begin work.

All of Winston & Strawn’s deferrals began receiving health benefits from the company in September of this year and will draw a stipend until they begin working. The stipend for those deferred past February will be $3300 per month, less deductions for the associate contributions to their health care plan.

More Deferrals at Foley & Lardner

joshua — Wed, 21 Oct 2009 19:31:30 +0000

Earlier this month tipsters alerted us to layoffs at Foley & Lardner, which the firm later confirmed. Like many firms, Foley & Lardner deferred its incoming associate class, but now it appears that some of those associates are being deferred again. Incoming IP associates have been pushed back to September of next year, and will receive a $5000 per month stipend, but no health care, in the mean time. Some litigation associates will start in February, the date of the original deferral, while the rest will start this December, earlier than planned.

Mintz Levin Defers Start Dates — Again

Erik Even — Tue, 25 Aug 2009 16:35:44 +0000

Boston’s Mintz Levin, which cut associate salaries this month, is deferring start dates for members of its incoming 2009 associates class, again.

Half the 2009 class will start in April 2010 — but the other half has been informed, personally by phone, they will not start until January 2011. The latter group will get an additional stipend and fellowship opportunities.

Mintz Levin Cohn Ferris Glovsky & Popeo is a general practice law firm employing 500 attorneys worldwide. Headquartered in Boston, Mintz also has offices in New York City, Washington DC, Stamford, Los Angeles, Palo Alto, San Diego, and London.

Proskauer Rose Defers Summers to Fall 2011

Erik Even — Fri, 31 Jul 2009 18:30:27 +0000

New York’s Proskauer Rose, which in March laid off 23 attorneys, is deferring its current Summer associates to Fall 2011.

Proskauer has not announced how many Summers will get job offers, and there has so far been no mention of stipends or fellowships.

The firm deferred its 2009 incoming associates class to March 2010 with a $20,000 stipend; those who deferred voluntarily to January 2011 got a $60,000 stipend.

If you have any information about deferrals at Proskauer Rose, send us a confidential tip!

Founded in 1875, Proskauer Rose, formerly known as Proskauer Rose Goetz & Mendelsohn, is one of the United States’ largest law firms, with offices in New York City, Los Angeles, Washington DC, Boston, Boca Raton, Chicago, Newark, New Orleans, São Paulo, London, Hong Kong, and Paris.

University of Miami Law to Defer Incoming Students

Erik Even — Wed, 01 Jul 2009 16:56:02 +0000

For months now, Biglaw firms have been offering voluntary, or imposing involuntary, deferral schemes on incoming associates. Now a law school had jumped on the bandwagon.

The University of Miami School of Law is asking incoming 1L students invited to start in the Fall to defer their entry into the law school until Fall 2010.

Students who accept the offer will get a $5000 Public Interest Deferral Scholarship for the 2010-11 academic year, if they complete 120 hours of public service by June 2010. This is in addition to any other scholarship money.

Deferred students will also have a greater chance of receiving a $75,000 Miami Scholars Scholarship award; and will be first considered for all 2010 scholarships.

The University of Miami School of Law, founded in 1926, is one of the top 100 law schools in the United States. According to US News & World Report, the school is ranked 71st among all law schools, with its tax law program ranked 6th in the nation. The law school was ranked 26th overall in the annual 2009 Judging the Law Schools rankings.

The UM School of Law is located on the campus of the University of Miami in Coral Gables, just 6 miles southeast of Miami.

Rumor: Cravath Holds Stealth Layoffs, Cuts 25 Associates

Erik Even — Tue, 16 Jun 2009 17:33:50 +0000

Blawgs are reporting that Cravath has been holding stealth layoffs of associates since December 2008, letting 25 lawyers go for “performance” reasons.

According to online sources, more layoffs are expected this month. Cravath has refused to comment.

Apparently this news is coming out because laid off associates are angry that Cravath will pay incoming 2009 associates $80,000 to defer to 2010.

Cravath, Swaine & Moore LLP is based in New York City, with an additional office in London. The second oldest firm in the US, Cravath was founded in 1819.

Cravath Defers 2010 Associate Class to 2011; Offers Sweet Deferal Option to 2009ers

Erik Even — Fri, 12 Jun 2009 16:32:11 +0000

Cravath, which in March deferred its 150-member incoming associate class to October or November 2009 or January 2010, has some more deferring to do.

First: the 2009 class is being offered a voluntary deferral option. Anyone willing to defer to Fall 2010 will get an $80,000 stipend, health care, $1,000 a month in student loan repayment, and a guaranteed job when the deferral is over.

The offer requires no public interest fellowship, and there are no strings attached.

Second: the 120 members of the 2010 incoming associate class will be deferred to Fall 2011. It’s mandatory, but includes a $65,000 stipend plus the health care and the student loan repayment.

Cravath, Swaine & Moore LLP is based in New York City, with an additional office in London. The second oldest firm in the US, Cravath was founded in 1819.

Shearman & Sterling Announces Start Dates

Erik Even — Wed, 10 Jun 2009 18:16:57 +0000

In April, New York’s Shearman & Sterling deferred its 2009 associate class. Incoming associates were offered a stipend to defer to 2010.

Now the firm has finally announced internally the start dates for those who did not accept the Delayed Start Program. According to online sources, the start dates are January 25th, February 1st, and February 8th, 2010. The dates are available on a first-come, first-served basis.

Shearman & Sterling LLP is a law firm headquartered in New York City, with 19 offices located in major financial centers around the world. It was founded in 1873.

As of 2006, it was the 17th largest law firm in the world as measured by 2006 annual revenue. Shearman & Sterling is a white shoe firm, the equivalent of the Magic Circle in the UK.

Wiggin and Dana Defers Incoming Associates to February 2010

Erik Even — Mon, 08 Jun 2009 17:03:03 +0000

Wiggin and Dana, which in March laid off 14 attorneys and 14 staff, has deferred its incoming associates to February 2010.

Those deferred have been offered a stipend, although the firm will not reveal the amount.

Founded in New Haven, Connecticut in 1934, Wiggin and Dana LLP has offices in Stamford and Hartford, Connecticut; Philadelphia, Pennsylvania; and New York City.

Fish & Richardson to Rescind Incoming Associate Job Offers

Erik Even — Thu, 21 May 2009 18:41:36 +0000

Global intellectual property firm Fish & Richardson, which earlier this month laid off 35 lawyers and 85 staff, has rescinded job offers to one-third of its 2009 incoming associate class.

One third of the incoming class will start on time, in Fall 2009.

Another third will be deferred to 2010. They will get a stipend of $5,000 per month for 12 months, along with reimbursement for health insurance.

And the final third has been told that a future position with the firm is “unlikely,” and they should look elsewhere for employment. These grads will, however, get a stipend of $5,000 per month for six months, along with reimbursement for health insurance.

The firm says it will “revisit their situations” in mid-2010. Which translates into English as “go away.”

Founded in 1878, Fish & Richardson is one of the largest in the world practicing intellectual property, litigation, and corporate law, and has as a legal staff of more than 450 attorneys and 1,200 employees in 12 offices across the globe, including an office in Munich, Germany. It opened its 11th US office in Houston in October.

Barlow Lyde & Gilbert Asks Trainees to Defer, Offers Whopping £2,500

Erik Even — Mon, 18 May 2009 19:53:19 +0000

London’s Barlow Lyde & Gilbert, which recently opened a fifth office in Manchester, has asked half of its September 2009 incoming trainee class to delay joining the firm for six months, in return for a no-strings-attached cash payment of £2,500 ($3,800).

The firm is also cutting the size of its summer program.

Barlow Lyde & Gilbert LLP is a leading international legal practice specializing in commercial litigation and dispute resolution, as well as insurance and reinsurance. It has offices in Hong Kong, Shanghai and Singapore, with its principal office in London.

Hogan & Hartson Offers $75,000 Deferral

Erik Even — Sat, 09 May 2009 17:39:56 +0000

Washington, DC-based Hogan & Hartson has joined the ranks of law firms offering a $75,000 stipend to extend the deferrals of incoming associates, in this case to December 2010.

The stipend will be paid this September. Associates who choose the plan will be able to start at the end of 2010, if they pass the bar.

Deferred associates can take time off or do public interest work, but they cannot do work for another private firm.

Associates have already received a $4,000 stipend, in addition to a bar stipend.

In April the firm cut 93 US support staff, and cut associate pay.

Founded in 1904, Hogan & Hartson is the oldest major law firm headquartered in Washington, DC. It is a global firm with more than 1,100 lawyers in 27 offices worldwide, including offices in North America, Latin America, Europe, the Middle East, and Asia.

Morrison & Foerster Defers Start Dates

Erik Even — Wed, 06 May 2009 17:34:31 +0000

Morrison & Foerster has informed 40% of its incoming associate class that their start date has been pushed to April 2010. The remainder will start in November 2009.

Those deferred will get $5,000 per month plus a bar stipend, and reimbursement of health care premia.

Also, new associates can opt to join at an even later date than April 2010, if they do public interest work. Those who take this option will get a $15,000 bonus when they eventually join the firm.

Morrison & Foerster LLP has more than 1,000 lawyers in 19 offices. The firm was founded in San Francisco in 1883.

Stroock Offers First-Years $75,000 to Go Away Forever

Erik Even — Fri, 01 May 2009 20:51:31 +0000

According to an internal memo leaked online, New York’s Stroock & Stroock & Lavan is making three offers to incoming associates.

First, deferrals:

…the start date for the incoming class will be January 11, 2010. Prior to this date, you will be expected to take and pass the New York bar exam. We will cover related expenses for both the bar review course and the bar exam itself. We also will make available to you a cash advance of $10,000 in September to help cover your expenses. In addition, if applicable, we will reimburse your moving expenses to New York, up to $2,000.

Or, later deferrals:

Second, we offer the opportunity to defer your start date until January 2011. If you select this option, we will provide you with the cash advance in September and, starting in January 2010, will provide you with an annual stipend of $50,000 to be paid monthly for so long as you secure an approved position in the public interest field… for a period of up to one year… Following this deferral, the current expectation is that you would start with the Firm in January 2011, although this is subject to change depending upon our hiring needs at the time…

Or finally, a big cash incentive to just go away.

Lastly, the Firm recognizes that you may wish to pursue other opportunities, outside of Stroock. If this is the case, we will make a total payment to you of $75,000, half payable in September 2009 and half in January 2010. By accepting this payment, it should be understood that you would have no current or future obligation to Stroock, nor would we to you.

In March, Stroock laid off 10% of its associates and staff.

Stroock & Stroock & Lavan LLP is based in New York City, with approximately 350 lawyers in three offices, including Miami and Los Angeles. It was founded in 1876.

BC Law Offers Aid to Deferred and Unemployed Grads

Erik Even — Wed, 29 Apr 2009 21:44:36 +0000

The Boston College Law School has joined other prominent law schools in offering assistance to graduates who have been deferred at law firms, or who have not received offers.

According to Eagleionline, the assistance includes:

Law School Fellows Program: “as many as twelve positions” will be available, paid at “a modest hourly rate” in places like the Legal Assistance Bureau and the Law Library.

Career Services Partnership Program: working with some firms and companies, the Law School will coordinate jobs for graduates from September 1 of this year to March 1 of the next, to help out those who are waiting out deferrals or bar exam results. While stipends vary, past participants have “averaged $800 to $1000 per week.”

Audit Courses: Class of 2009 graduates will be able to enroll in “a number of courses” in the fall semester, without tuition but without the opportunity to receive a grade…

Eagle Scholars Program: while auditing courses, graduates can participate in a weekly seminar intended to help students produce “a law review article of publishable quality.”

Research Assistantships: in a measure bound to raise the ire of some continuing students, graduates are being welcomed to apply for assistantships with professors. Some faculty members have been given the green light to hire an extra assistant for the summer and fall.

Public Service Jobs: for graduates waiting out deferrals, the Law School is extending access to PS Lawnet in an effort to connect graduates with public service opportunities.

Boston College Law School is situated on a 40-acre wooded campus in Newton, Massachusetts. With approximately 800 students and 125 faculty members, the Law School is the largest of Boston College’s seven graduate and professional schools.

Admission to BC Law is among the most selective in the United States, with approximately 7,000 applicants for the 275 places in the first year class in 2005.

Schulte Roth & Zabel Lays Off 20 Lawyers; Defers Start Dates

Erik Even — Fri, 24 Apr 2009 18:50:31 +0000

Late last year, New York City’s Schulte Roth & Zabel laid off 30 lawyers.

This week the firm asked 20 attorneys to update their CVs. The layoffs affected the corporate, real estate, and litigation practices.

Those asked to leave have been given two months notice, and will get outplacement assistance.

The firm has also shortened its 2009 summer program to 8 weeks, and has deferred start dates for incoming associates to January, 2010. There is a $20,000 stipend, and some associates will be offered a public interest deferral that pays $75,000.

Schulte Roth & Zabel is one of the top 100 largest law firms by revenue. The firm was founded in New York City in 1969 and launched in London in 2002. The firm also has an office in Washington, DC. Schulte employs nearly 450 attorneys in its three offices.

Bingham McCutchen Defers Start Dates

Erik Even — Thu, 23 Apr 2009 21:13:35 +0000

Bingham McCutchen, which ousted 16 attorneys and 23 staff last month, has deferred its incoming associate class to January, 2010.

Deferred associates will receieve a standard $10,000 bar stipend and a $10,000 deferral stipend. They will also be offered a $10,000 salary advance.

Bingham McCutchen LLP is an international law firm with approximately 1,000 attorneys in 11 US offices and three international offices. It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

Dechert Defers Start Dates

Erik Even — Thu, 23 Apr 2009 16:48:14 +0000

Philadelphia’s Dechert is deferring start dates for two-thirds of its 63 incoming associates

Three groups of 21 associates will start in Fall 2009, March 2010 and Fall 2010. Associates can indicate which start date they prefer, but the firm will choose the groups.

The March 2010 deferrals will get $17,500; the Fall 2010 group will get $75,000. There is also a bar stipend.

Those deferred are expected to take public interest fellowships or positions.

The firm laid off 10 attorneys in February and 125 lawyers & staff in March.

Founded in 1975, Dechert LLP is an international law firm of more than 1,000 lawyers with top-ranked practices in corporate and securities, complex litigation, finance and real estate, and financial services and asset management.

Taylor Wessing Deferring Start Dates

Erik Even — Wed, 22 Apr 2009 21:52:57 +0000

Anglo-German law firm Taylor Wessing is asking for voluntary deferrals from its September 2009 and September 2010 incoming associate classes.

The 750-attorney firm will pay a stipend of £7,500 ($10,872). Deferred trainees will not be required to accept public interest fellowships.

The firm is offering its employees two extra weeks off each year, in exchange for a 4% reduction in salary. Taylor Wessing also plans redundancies, voluntary and involuntary, and unpaid furloughs.

Taylor Wessing LLP is an international law firm established in 2002, following the merger of UK law firm Taylor Joynson Garrett and German law firm Wessing. The firm has 13 offices around the globe; in Berlin, Brussels, Cambridge, Dubai, Düsseldorf, Frankfurt am Main, Hamburg, London, Munich and Paris, as well as representative offices in Beijing, Shanghai and Alicante, Spain.

Mayer Brown Extends Deferral Options

Erik Even — Wed, 22 Apr 2009 16:24:55 +0000

Mayer Brown announced at the beginning of April that it was deferring most incoming associates to January, 2010, with a deferral stipend of $5,000 per month.

Now the firm has decided to allow associates to voluntarily extend their deferral to October 2010, with the $5,000 a month payment and health benefits. A public interest fellowship is not required, although a program will be offered.

Mayer Brown is one of the largest global law firms both by number of lawyers and revenue. The firm has over 1,800 lawyers in key business centers across the Americas, Asia and Europe.

Buchanan Ingersoll Defers Start Dates

Erik Even — Tue, 21 Apr 2009 16:35:06 +0000

Buchanan Ingersoll & Rooney has announced that start dates for first-year associates will be deferred from September 2009 to February 2010. There will be an undisclosed deferral stipend.

The firm will also cut its 2009 summer associate program by three weeks. There will be 10 summer associates firmwide in the now seven-week program, compared to 23 last year.

Nine first-year associates will start in February, compared to 25 last year.

Deferred associates need not find public-interest fellowships.

In February, Buchanan Ingersoll cut staff and froze salaries.

Buchanan, Ingersoll & Rooney PC is a large US law firm and lobbying group based in Pittsburgh, Pennsylvania. The firm has over 500 lawyers in sixteen offices nationwide, and was ranked 82nd on the National Law Journal’s 2008 list of the 250 largest law firms in the United States.

Eversheds to Lay Off 10 Lawyers, Defer Start Dates

Erik Even — Fri, 17 Apr 2009 16:21:59 +0000

Eversheds has launched a redundancy consultation targeting 10 lawyers in its real estate practice.

The firm may find new positions within Eversheds for some of those affected.

Eversheds has laid off 73 lawyers and staff since September 2008.

Also, the firm will defer start dates for roughly half its incoming associates, offering £5,000 to defer for a year. That’s $7,400 — for a whole year. It’s unclear if the offer comes with a cardboard box to live in.

Eversheds is also offering deferred associates a 12-month contract as a paid paralegal with the firm.

Eversheds LLP is one of the largest full service law firms in the world. Headquartered in London, it has 40 offices in major cities across the UK, Europe, the Middle East and China.

DLA Piper Defers Incoming Associates

Erik Even — Wed, 15 Apr 2009 17:48:43 +0000

DLA Piper is deferring start dates for incoming associates to January, 2010.

All deferred associates will get a $10,000 stipend in addition to a bar stipend.

The firm is also offering voluntary pro bono fellowships, which pay $5,000 per month throughout 2010. DLA Piper must approve the positions.

Recently, DLA Piper laid off or furloughed Dubai associates; cut partner pay by 11.4%; and laid off 20 lawyers & 34 staff in Asia.

DLA Piper is one of the largest law firms in the world, with more than 3,700 lawyers in North America and Europe.

Goodwin Procter Defers Start Dates

Erik Even — Wed, 15 Apr 2009 16:38:24 +0000

Boston’s Goodwin Procter is deferring start dates for 60 members of its 125-person incoming associate class.

Half will be pushed back to January 2010, the rest to October 2010. At this time, the deferrals are voluntary.

Under what the firm is calling its “Make a Difference” program, the firm will help associates find year-long positions with non-profits, government services, pro bono legal services, and economic development & criminal justice entities.

Associates will get a $60,000 stipend.

Goodwin Procter LLP employs 900 attorneys in Boston, Los Angeles, New York City, Silicon Valley, San Diego, San Francisco, and Washington DC.

Greenberg Traurig Decimates New Associate Salaries

Erik Even — Tue, 14 Apr 2009 20:01:08 +0000

Greenberg Traurig is cutting the salaries of its summer and first year associates by 10%.

First year associate start dates may be delayed. Associates will start between September and January, depending on the city and practice area. There is no deferral stipend.

The salary cuts affect all Greenberg offices.

Greenberg Traurig employs more than 1,800 attorneys and governmental affairs professionals in the US, Europe and Asia. The firm was selected as the 2007 USA Law Firm of the Year by Chambers and Partners.

WilmerHale Defers Start Dates, Offers $75,000

Erik Even — Mon, 13 Apr 2009 19:24:54 +0000

WilmerHale is deferring start dates for its 2009 associate class.

Some associates will be deferred to January 20th, 2010, and others to March 17th of that year.

January associates will get a $10,000 deferral stipend on top of their $5,000 bar stipend. March associates will get a $15,000 bar stipend. Funny, if you do the math, there doesn’t seem to be a difference.

First years may also defer their start dates to Fall 2010, for a stipend of $75,000. The plan is voluntary, and does not require participation in a public interest fellowship.

Wilmer Cutler Pickering Hale & Dorr LLP has twelve offices across the USA, Europe and Asia. It was created in 2004 through the merger of the Boston’s Hale & Dorr and the Washington’s Wilmer Cutler & Pickering, and employs more than 1,100 attorneys worldwide. As of 2008, it was the 23rd largest law firm in the world in terms of revenue. In 2007, the National Law Journal ranked the firm as the 22nd largest in the United States by number of attorneys.

Winston & Strawn Defers Start Dates

Erik Even — Mon, 13 Apr 2009 18:46:11 +0000

According to online sources, Winston & Strawn has pushed back 2009 incoming associate start dates to January 19th, 2010.

Deferred associates will receive an additional $15,000, in addition to their $10,000 bar stipend. The firm will provide health care benefits to its incoming associates, starting this September.

Winston & Strawn LLP was founded in Chicago in 1853. It employs about 1,000 attorneys among 13 offices in the United States, Europe and Asia.

Linklaters Defers Start Dates

Erik Even — Mon, 13 Apr 2009 16:15:40 +0000

London’s Linklaters has pushed back its trainee start dates for September 2009 and March 2010, offering future trainees £10,000 to go away for one year.

The firm will select 15 incoming associates for the deferral program.

Associates due to start in September 2009 who take a 12 month deferral will get the 10 grand. Associates due to start in March 2010 can either defer for 12 months and get £10,000, or defer for six months an get £5,000.

Linklaters is believed to have about 125 lawyers across the two intakes. All deferrals will be voluntary.

Linklaters has 26 offices in 19 countries, and is one of the five members of the “Magic Circle” of prominent UK law firms.

Vinson & Elkins Defers Start Dates, Cuts Expenses

Erik Even — Wed, 08 Apr 2009 21:33:15 +0000

Houston’s Vinson & Elkins has notified incoming associates that they must choose a new start date of November 2nd, 2009, or January 4th, 2010.

The firm is asking new associates to talk to practice group leaders and department heads in their areas for input before making a decision.

The firm is offering an incentive for the 2010, date: a $10,000 salary advance that associates will not have to repay.

Sources in the blawgosphere say the firm is pursuing various other cost-cutting measures, including a reduction in staff bonuses, holding off tech upgrades, and making employees pay for their own BlackBerries.

Vinson & Elkins LLP is an international law firm with offices in 13 major cities, including Houston, Dallas, Austin, Beijing, Shanghai, London, Tokyo, New York City, Washington DC, Moscow, Dubai, Abu Dhabi, and Hong Kong. With approximately 700 attorneys, Vinson & Elkins is the largest law firm in Houston and one of the largest in Texas.

Tipster: Holme Roberts & Owen Deferring Incoming Associates

Erik Even — Tue, 07 Apr 2009 17:36:40 +0000

According to a JDJournal tipster, Denver-based international law firm Holme Roberts & Owen is deferring its entire incoming class of associates for 12 months.

Our tipster reports:

3Ls were informed of this YESTERDAY [4/6], when less than 2 months ago they were told that they would be starting this fall in October. Firm will pay minuscule stipend of $15,000 for the year. Bar fees and cost of study course will not be covered.

A number of strings are attached to the stipend.

We are FUCKED. Sources inside the firm suggest that management was sitting on this information for weeks.

If you know anything about the situation at Holme Roberts & Owen, please — send us a confidential tip!

Holme Roberts & Owen employs approximately 265 attorneys. The only international law firm based in Denver, it has several other offices in the United States and worldwide.

Rumor: Winstead Revoking Offers to New Associates? [Update]

Erik Even — Mon, 06 Apr 2009 14:00:12 +0000

Last month Winstead, a Texas law firm with seven offices, canceled its 2009 summer associate program. The firm is offering $5,000 each to the 2Ls who are left without summer employment.

Now online sources are claiming the firm has revoked offers to incoming associates, without any kind of severance.

The firm denies the revocation rumor, stating that start dates have merely been deferred, with stipends.

If you know anything about the situation at Winstead, please — send us a confidential tip!

Winstead PC has offices in Austin, Dallas, Fort Worth, Houston, San Antonio, and The Woodlands, Texas; and in Washington, DC.

UPDATE:

A JDJournal tipsters says:

I can confirm that incoming associates have had their offers rescinded without any severance at the Houston office. It happened to a close friend of mine. In fact, the news was delivered without so much as an apology. Worse, the firm promised to do everything possible to help with outplacement, but when contacted about it, simply said they would “let them know if anything comes up,” i.e. they aren’t planning to do anything. It’s odd, really, that they would offer a severance to 2Ls without a summer clerkship, but nothing to a 3Ls with rescinded permanent offers.

Shoosmiths Asks New Hires to Defer or Withdraw; No Compensation

Erik Even — Sat, 04 Apr 2009 17:11:27 +0000

British law firm Shoosmiths has asked its 2009 trainees to withdraw from their contract, or defer until 2011, without any offer of financial compensation.

The firm wants volunteers to defer until September 2010 or September 2011, but will not offer financial compensation.

If the firm does not get enough volunteers, it will consider compulsory deferrals.

In addition, a selected 21 incoming lawyers must choose between deferral and withdrawal. Their start dates will be pushed to September 2011 or even September 2012.

Shoomsiths CEO Paul Stothard says that financial compensation “is not appropriate in these circumstances. That is our view — other firms may take a different view.” You think?

Shearman & Sterling Defers Start Dates

Erik Even — Fri, 03 Apr 2009 22:23:25 +0000

New York’s Shearman & Sterling will defer its 2009 associate class.

From the memo:

In light of current economic conditions and the reduced activity in some of our practices, the firm is facing the challenge that it will be unable to offer all our incoming Class of 2009 associates the quality and breadth of work that we feel is necessary to properly train new lawyers. As a result, we are offering a Delayed Start Program to our incoming Class of 2009 associates that will allow you to defer your start date with the firm until 2010 while you pursue public interest, academic or personal development opportunities.

Incoming Class of 2009 associates who choose to participate in the Delayed Start Program will have an offer to join the firm as a first year associate in the Class of 2010, with the option to start on the first start dates for Class of 2010 associates. We have not yet determined the start dates for incoming Class of 2009 associates who choose to not participate in the Delayed Start Program, but… the earliest start date will not be before December 2009…

Participants in the Delayed Start Program will receive a stipend of $65,000. In addition, the firm
will pay for a bar admission preparation course and reimburse you for expenses associated with
taking the California, Washington, D.C. or New York bar exam…

In March, the firm laid off 78 staffers.

Shearman & Sterling LLP is a law firm headquartered in New York City, with 19 offices located in major financial centers around the world. It was founded in 1873.

As of 2006, it was the 17th largest law firm in the world as measured by 2006 annual revenue. Shearman & Sterling is a white shoe firm, the equivalent of the Magic Circle in the UK.

Mayer Brown Cuts 45 Lawyers, 90 Staff

Erik Even — Thu, 02 Apr 2009 16:09:49 +0000

Mayer Brown, which just cut 55 lawyers and staff in London, today let go 45 lawyers and 90 staff in the US.

From the press release:

Following the completion of an extensive review of its global operations, Mayer Brown announced today that it has made job reductions in its offices in the United States affecting 45 lawyers and 90 administrative staff…

The firm is also taking other measures:

* Postponement of the start date for most new first-year associates to January 19, 2010, with those affected receiving a $5,000 monthly stipend and subsidized medical benefits during their deferral period;

* Alternatives to full-time work schedules for lawyers in situations where this fits the needs of the individual and the practice; and

* Placement opportunities with pro bono organizations and corporate legal departments for some associates, who will receive a monthly stipend from the firm for one year and subsidized medical benefits.

Mayer Brown is one of the largest global law firms both by number of lawyers and revenue. The firm has over 1,800 lawyers in key business centers across the Americas, Asia and Europe.

Volunteer Lawyers for Justice to Hold Job Fair for Deferred Associates

Erik Even — Wed, 01 Apr 2009 16:26:57 +0000

Volunteer Lawyers for Justice is holding a job fair next week for deferred associates who want public interest jobs in the interim before they start at their firms.

Many firms have offered their deferred incoming associates a stipend of they find employment at an approved organization.

The “Deferred Associates Fair” will be held on April 8th at the New Jersey Performing Arts Center in Newark. The nonprofit Volunteer Lawyers for Justice trains volunteer attorneys to provide free legal assistance to low-income clients.

Twelve public interest legal organizations have signed up to participate so far, and there could be 20 or more represented at the event. Several law school clinics are also scheduled to attend.