Stub year

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expat
Posts: 53
Joined: Mon Jan 11, 2010 3:56 am

Stub year

Postby expat » Thu Sep 16, 2010 8:49 pm

Just curious about how the stub year works for new graduates starting at a large firm, assuming a late summer-early fall start date. How is bonus/salary/seniority calculated? I'm assuming it's done either by calendar year or by 12-month cycles, but maybe they don't all change on the same intervals.

NYAssociate
Posts: 713
Joined: Wed Jun 09, 2010 8:15 pm

Re: Stub year

Postby NYAssociate » Thu Sep 16, 2010 8:54 pm

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Last edited by NYAssociate on Tue Oct 05, 2010 7:52 pm, edited 1 time in total.

expat
Posts: 53
Joined: Mon Jan 11, 2010 3:56 am

Re: Stub year

Postby expat » Thu Sep 16, 2010 9:08 pm

Interesting...thanks for the link. I take it that means most firms consider a new hire a "first year associate" and pay them first year salary for the first (12+stub) months of employment?

NYAssociate
Posts: 713
Joined: Wed Jun 09, 2010 8:15 pm

Re: Stub year

Postby NYAssociate » Thu Sep 16, 2010 9:10 pm

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Last edited by NYAssociate on Tue Oct 05, 2010 7:51 pm, edited 1 time in total.

Anonymous User
Posts: 273252
Joined: Tue Aug 11, 2009 9:32 am

Re: Stub year

Postby Anonymous User » Thu Sep 16, 2010 9:12 pm

Sorry to hijack, but can someone explain the difference between:

Bar Exam Reimbursements

and

Bar Stipend or Signing / Graduation Bonus

If the firm does not give the latter, does that mean I pay for BarBri/Bar Exam and are just reimbursed by the firm?

NYAssociate
Posts: 713
Joined: Wed Jun 09, 2010 8:15 pm

Re: Stub year

Postby NYAssociate » Thu Sep 16, 2010 9:18 pm

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Last edited by NYAssociate on Tue Oct 05, 2010 7:51 pm, edited 1 time in total.

Anonymous User
Posts: 273252
Joined: Tue Aug 11, 2009 9:32 am

Re: Stub year

Postby Anonymous User » Thu Sep 16, 2010 9:28 pm

NYAssociate wrote:Bar exam reimbursements: The firm pays for all fees associated with taking the bar exam. Almost all big firms will also cover the prep course.

Bar stipend: Money for you to live off of while you are preparing for the bar.

Apparently some firms offer a stipend on top of the bar stipend. I don't know of them, though.



Is it common for firms to provide the bar exam reimbursements, but not the stipend? What do people do, if this is the case? Take out some more loans?

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swc65
Posts: 1003
Joined: Wed Jul 22, 2009 11:27 am

Re: Stub year

Postby swc65 » Thu Sep 16, 2010 9:34 pm

Anonymous User wrote:
NYAssociate wrote:Bar exam reimbursements: The firm pays for all fees associated with taking the bar exam. Almost all big firms will also cover the prep course.

Bar stipend: Money for you to live off of while you are preparing for the bar.

Apparently some firms offer a stipend on top of the bar stipend. I don't know of them, though.



Is it common for firms to provide the bar exam reimbursements, but not the stipend? What do people do, if this is the case? Take out some more loans?



I believe some firms offer a salary advance in lieu of a stipend or in addition to it.

NYAssociate
Posts: 713
Joined: Wed Jun 09, 2010 8:15 pm

Re: Stub year

Postby NYAssociate » Thu Sep 16, 2010 9:37 pm

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