Page 1 of 1

Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 2:51 pm
by Pricer
Has anyone ever heard of law firms paying off debts for new associates? I don't mean a $20-25k signing bonus or anything, I mean loans totaling $100k+. I was under the impression that the $160k market salary was that high because of the debt that must be accrued at law school. I have never read on this website or any other website that firms will pay off large amounts of law school debt for new associates, but I continue to hear anecdotal stories from less than reliable sources (i.e. my mom, who told me that Mercer was as good as UT because they cost near the same). I haven't bought into this, but I figured I'd pose the question on the forums anyway just to confirm my beliefs. If this is a (un)common occurrence, is it usually biglaw firms or boutique firms who do this? What firms have you heard of doing it?

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 2:54 pm
by rayiner
The big NYC places don't even give you a signing bonus or bar stipend.

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 2:56 pm
by Kilpatrick
How would BigLaw even get you to work there if you didn't have six figures of debt to pay off

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 3:13 pm
by luthersloan
Yeah, I saw the Firm too. On the birigh side, if you score a SCOTUS clerkship, a firm will give you a big enough bonus to pay off you loans, as long as you are under 200K.

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 3:15 pm
by Stanford4Me
The firm of Billups, Edwards, Tanner and Andrews gives huge signing bonuses. Only thing is you have to pay it back if you leave before 4 years.

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 6:40 pm
by thesealocust
rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 8:42 pm
by rayiner
thesealocust wrote:
rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.
Not even close. Stub bonuses this year were $2,500. Kirkland pays $10,000 bar stipend, and Latham pays $13,333.

Re: Paying Off Loans as Signing Bonus

Posted: Tue Jul 19, 2011 9:04 pm
by thesealocust
rayiner wrote:
thesealocust wrote:
rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.
Not even close. Stub bonuses this year were $2,500. Kirkland pays $10,000 bar stipend, and Latham pays $13,333.
D'oh