Breaking News

Big Law Firm Launches Voluntary Associate Deferral Program
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The financial turmoil caused by the pandemic that had shaken the legal world has raised a lot of concerns among incoming associates who rightfully worry about the future of their legal career.

Apart from the furloughs, salary cuts, and layoffs, many law firms delayed first-year start dates until the beginning of 2021. 

Ropes & Gray has announced a voluntary one-year deferral program for its current associates and its incoming first-years making it the first big law firm to offer an option of a full deferral year.

  
What
Where


The decision made by the AM 100 law firm with $1,903,616,000 in gross revenue in 2019 could pave the way for other law firms to follow suit and offer similar programs. 

The firm who was also among the first to announce a virtual and reduced summer associate program stated that the decision was not a result of a financial crisis.

Peter Erichsen, the firm’s hiring partner, said in a memo the firm decided to offer associates the chance to spend a year working in the public interest or on sabbatical in response to the “uncertainty and turmoil.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




“This year has truly been one like no other, and we certainly would understand if its developments have prompted a temporary rethinking of your professional priorities,” Erichsen said in the memo.

Ropes & Gray with around 880 associates firmwide and 169 incoming associates who have until October 1 to decide whether they want to take the offer. The firm will pay an $80,000 stipend to those who choose to participate in the fellowship program who can choose to work for a public interest organization, a nonprofit, or an approved government entity. And a pretax $38,800 stipend or 20% of first-year starting pay—to take a year off, except for practicing law at a law firm. 



“We recognized that in the current climate, some people might want to switch gears and focus on public service, and the program is designed to help them do that,” the spokesperson said. “We have heard from some associates that this is something they have been wanting to do, and we have heard from public service organizations that they need help.”

“Perhaps you are looking for ways to contribute your knowledge, talent and time to public service work in a variety of areas—fighting racial injustice, addressing housing crises and other needs arising out of the COVID pandemic, or supporting political causes important to you, to name just a few,” he continued. 

The fellowship is “completely voluntary,” and the firm has “no plans for any actions like furloughs or layoffs,” a firm spokesperson said in a follow-up statement, adding that Ropes & Gray reassured associates on those points in a Thursday firm meeting.

“Ropes & Gray got good feedback from current associates on the time-away opportunity, so management chose to offer it to incoming associates as well,” the memo said. “Business is strong,” and lawyer activity levels are on pace with 2019, the spokesperson said, adding that the health care, life sciences, asset management, and capital markets groups have stayed busy all year, and M&A activity has picked up “meaningfully in the third quarter.”

Associates who decide to participate in the program will get health insurance through Ropes & Gray from October 20 through their start date with the firm.



 

RELEVANT JOBS

Trademark Paralegal

USA-FL-Miami

MAVEN IP is looking for a detail-oriented full-time paralegal assistant with experience and kno...

Apply now

Associate Attorney

USA-NJ-Middletown

Plaintiff\'s Associate Attorney with a minimun 2 or more  years experience in New Jersey Person...

Apply now

Litigation Paralegal

USA-PA-Wexford

Myers Law Group, LLC is in search of a paralegal with at least 1-2 years of experience in the area o...

Apply now

Remote Attorney Placement Professional

USA-TX-Dallas

We are currently seeking a legal recruiter to join our Dallas office. The ideal candidate will be pe...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Associate Attorney

USA-LA-New Orleans

New Orleans office of a BCG Attorney Search Top Ranked Law Firm seeks litigation associate attorney ...

Apply Now

Labor and Employment Associate Attorney

USA-CA-Rancho Cucamonga

Rancho Cucamonga office of our client seeks labor and employment associate attorney with 1+ year of ...

Apply Now

Associate Attorney

USA-IL-Chicago

Chicago office of a BCG Attorney Search Top Ranked Law Firm seeks associate attorney with 1-3 years ...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top