JD Journal » voluntary deferrals

Voluntary Deferral Extension at Mayer Brown

joshua — Mon, 07 Dec 2009 15:43:31 +0000

The incoming class of associates at Mayer Brown is scheduled to begin work in January after being deferred back in April. Later that same month the firm offered voluntary extension to October of 2010 with a $5000 per month stipend plus benefits, along with assistance securing public service experience in the meantime. Now we’ve learned that the firm is once again asking 18 of its 119 incoming associates to push back their start date until October, although it’s still being called a voluntary deferral. It’s unclear how voluntary the deferment actually is. If you have any specific information on the options available to those being asked to hold off starting work, please send us an anonymous tip here.

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.

And now for something different…

joshua — Fri, 28 Aug 2009 23:26:40 +0000

New associates at Sidley Austin are being deferred starting early this year in the Washington DC office. New associates are being given the option to begin after Labor Day to fulfill needs in certain practice groups. Associates in other offices have been offered voluntary deferrals and will begin working mid November.

Sidley Austin is one of the countries oldest law firms and includes Mary Todd Lincoln among its list of early clients. Formed in 1866 in Chicago, it has offices in 16 cities worldwide with 1,800 lawyers. Practice groups cover a broad range of areas and it has a long history with transactional matters and litigation.

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.

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.

Sidley Austin Announces ‘Pro Bono Assistance Program’

Erik Even — Fri, 08 May 2009 21:43:12 +0000

Sidley Austin is offering its incoming associates an optional deferral plan.

The “Pro Bono Assistance Program” offers a $75,000 stipend to associates who defer to January 2011, and do public interest work in the meantime.

The New York office is offering the plan to up to 20 new grads.

In March, the firm cut nine lawyers and 140 staff.

Sidley Austin LLP, formerly known as Sidley Austin Brown & Wood LLP, is one of the oldest law firms in the world. It is the sixth-largest US-based corporate law firm with over 1,800 lawyers, annual revenues of more than one billion dollars, and offices in 16 cities worldwide.

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.

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.

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.