How Much is a Delayed Start Date Worth? Latham: $75K, Lovells: $7K
As a growing number of law firms encourage incoming associates to push back their start dates, some firms also are offering cash to help cushion the financial blow. But exactly how much new attorneys can expect apparently varies considerably.
At Latham & Watkins, recent news of huge layoffs—and generous severance payments—also included word that the firm plans to pay $75,000 to associates who agree to delay their start dates until October 2010.
However, Lovells is paying only about $7,000 to those it is asking to volunteer to wait 12 months to start work, Legal Week reports today. Those who are willing to wait for six months to start get half that amount, under the firm’s offer.
Law students are used to calculating the pros and cons of associate salaries and perks. But how should they determine whether it’s worthwhile to kick back for a year before beginning a law firm career?
Related coverage:
JD Journal: “Baker & McKenzie Bribes Trainees to Delay Start Dates”
