Largest Firms Are Deferring Deferrals, For Now
Their new associate start dates have always been September. And economy be damned, most top law firms plan to honor their start date commitments.
So says an article by the American Lawyer, which reports that most of the 10 most-profitable Am Law 100 firms have avoided deferrals despite concerns of overstaffing in the fall.
Of course, there’s a glaring exception. Cravath Swaine & Moore last week announced a plan to pay incoming associates $80,000 to wait until next year.
Another top 10 firm, Schulte Roth & Zabel, is making yearlong deferrals mandatory.
The rest, however, plan to start their associate classes on time. Those firms include Wachtell, Lipton, Rosen and Katz; Paul, Weiss, Rifkind, Wharton & Garrison; and Quinn Emanuel Urquhart Oliver & Hedges.
“Our start date is, and has always been September for new associates,” a Paul Weiss rep told American Lawyer. “There will be no optional deferrals.”
