4k/wk 2L offer rumor

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

4k/wk 2L offer rumor

Postby Anonymous User » Mon Oct 03, 2011 6:14 pm

I heard a rumor that a student from UIUC with a science/engineering background got a 2L summer patent position with an offer of about $4k/week. Can anybody confirm? Anybody know the firm?

User avatar
wiseowl
Posts: 1071
Joined: Thu Jul 03, 2008 4:38 pm

Re: 4k/wk 2L offer rumor

Postby wiseowl » Mon Oct 03, 2011 6:23 pm

Given UIUC's reputation for number reporting recently, I'd be a little reluctant to believe.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: 4k/wk 2L offer rumor

Postby CanadianWolf » Mon Oct 03, 2011 6:37 pm

Probably a 4L at 2K a week--but anything is possible. :D

Wavelet
Posts: 71
Joined: Sun Jul 25, 2010 8:23 pm

Re: 4k/wk 2L offer rumor

Postby Wavelet » Mon Oct 03, 2011 6:39 pm

Wachtell's doing patent lit now?

TheFriendlyBarber
Posts: 258
Joined: Tue Oct 12, 2010 2:13 am

Re: 4k/wk 2L offer rumor

Postby TheFriendlyBarber » Mon Oct 03, 2011 6:56 pm

True. $3,000 is certainly "about $4,000."

User avatar
Bildungsroman
Posts: 5548
Joined: Sun Apr 11, 2010 2:42 pm

Re: 4k/wk 2L offer rumor

Postby Bildungsroman » Mon Oct 03, 2011 6:58 pm

NY TO 190!

User avatar
Doritos
Posts: 1232
Joined: Tue Nov 24, 2009 8:24 pm

Re: 4k/wk 2L offer rumor

Postby Doritos » Mon Oct 03, 2011 7:05 pm

wiseowl wrote:Given UIUC's reputation for number reporting recently, I'd be a little reluctant to believe.


lol

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Tue Oct 04, 2011 12:02 am

OP here.

No, it was far closer to 4K than 3K. 2L from UIUC who landed the standard ~3k/wk market salary said he overheard this and stopped listening because he was upset that this guy with lower grades had an easier time finding a job and was making more money.
It is probably not WC. Think it was an EE patent spot.

TheFriendlyBarber
Posts: 258
Joined: Tue Oct 12, 2010 2:13 am

Re: 4k/wk 2L offer rumor

Postby TheFriendlyBarber » Tue Oct 04, 2011 12:22 am

Anonymous User wrote:OP here.

No, it was far closer to 4K than 3K. 2L from UIUC who landed the standard ~3k/wk market salary said he overheard this and stopped listening because he was upset that this guy with lower grades had an easier time finding a job and was making more money.
It is probably not WC. Think it was an EE patent spot.


What does it matter? If it's true, good for him. If it's a lie, then he's a sad, little man. All you can do, really, is wish him well and be on your way . . . or just be on your way. And if you're asking because you too want a piece of that $4000/wk pie, then walk up to the guy and ask him what firm he'll be working for next summer. I'm sure he'll be glad to disclose.

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Wed Oct 05, 2011 12:33 pm

Jones Day pays almost 3800 a week---at least in Chicago

User avatar
Kabuo
Posts: 1114
Joined: Tue Aug 31, 2010 8:53 am

Re: 4k/wk 2L offer rumor

Postby Kabuo » Wed Oct 05, 2011 12:40 pm

wiseowl wrote:Given UIUC's reputation for number reporting recently, I'd be a little reluctant to believe.


180.

showNprove
Posts: 968
Joined: Sun Jun 08, 2008 2:52 pm

Re: 4k/wk 2L offer rumor

Postby showNprove » Wed Oct 05, 2011 12:53 pm

Anonymous User wrote:Jones Day pays almost 3800 a week---at least in Chicago

By 3800, I think you mean 3100.

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Wed Oct 05, 2011 1:25 pm

4K/week is possible, even likely, if they've previously worked or are currently working as a patent agent / tech spec for the firm. At my firm, former tech specs that the firm puts through law school start as 3rd-4th year associates. Certain PhD or MD candidates also get to start at 3rd year patent agents, even without having worked at the firm.

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Wed Oct 05, 2011 1:28 pm

If he worked as a patent agent before law school, they may be planning to hire him as the equivalent of a third or fourth year associate and are paying him accordingly for the summer. Some IP firms do that in order to get people who have serious patent experience before law school as that experience is very rare and extremely valuable (essentially eliminates the training period for a new patent associate, so the firm will make money on him immediately).

Whoops, missed the anon above me saying the same thing.

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Wed Oct 05, 2011 1:30 pm

Anonymous User wrote:Jones Day pays almost 3800 a week---at least in Chicago


I guess you mean the bi-weekly paycheck.

After tax, the bi-weekly pay is around $3789, if your pay rate is 3072-3100 per week.

User avatar
erico
Posts: 232
Joined: Sat Nov 07, 2009 1:56 am

Re: 4k/wk 2L offer rumor

Postby erico » Wed Oct 05, 2011 1:40 pm

Anonymous User wrote:
Anonymous User wrote:Jones Day pays almost 3800 a week---at least in Chicago


I guess you mean the bi-weekly paycheck.

After tax, the bi-weekly pay is around $3789, if your pay rate is 3072-3100 per week.


That's a lot of tax...

Anonymous User
Posts: 273179
Joined: Tue Aug 11, 2009 9:32 am

Re: 4k/wk 2L offer rumor

Postby Anonymous User » Wed Oct 05, 2011 1:43 pm

erico wrote:
Anonymous User wrote:
Anonymous User wrote:Jones Day pays almost 3800 a week---at least in Chicago


I guess you mean the bi-weekly paycheck.

After tax, the bi-weekly pay is around $3789, if your pay rate is 3072-3100 per week.


That's a lot of tax...


Yeah, way more than an SA would be paying. Your annual income is still only ~$30k. Now, that's probably closer to the truth for an associate making $160k a year.

tlstlstls73
Posts: 60
Joined: Thu Sep 29, 2011 11:27 pm

Re: 4k/wk 2L offer rumor

Postby tlstlstls73 » Wed Oct 05, 2011 1:44 pm

erico wrote:
Anonymous User wrote:
Anonymous User wrote:Jones Day pays almost 3800 a week---at least in Chicago


I guess you mean the bi-weekly paycheck.

After tax, the bi-weekly pay is around $3789, if your pay rate is 3072-3100 per week.


That's a lot of tax...


We are the 99%!

User avatar
Bosque
Posts: 1585
Joined: Tue Oct 28, 2008 10:14 pm

Re: 4k/wk 2L offer rumor

Postby Bosque » Wed Oct 05, 2011 1:45 pm

Anonymous User wrote:4K/week is possible, even likely, if they've previously worked or are currently working as a patent agent / tech spec for the firm. At my firm, former tech specs that the firm puts through law school start as 3rd-4th year associates. Certain PhD or MD candidates also get to start at 3rd year patent agents, even without having worked at the firm.


This is news to me. I've heard of getting a bonus as a PhD, NEVER heard of seniority jumping.

User avatar
DCDuck
Posts: 242
Joined: Mon Apr 06, 2009 4:27 pm

Re: 4k/wk 2L offer rumor

Postby DCDuck » Wed Oct 05, 2011 1:59 pm

That's a lot of tax...[/quote]

Yeah, way more than an SA would be paying. Your annual income is still only ~$30k. Now, that's probably closer to the truth for an associate making $160k a year.[/quote]

You get taxed during your summer at the same rate as the associates (a very high rate). Because you only make $32,000 for the year, though, you get a big refund. Take home pay will be about $4000/bi weekly, then a nice refund later.

User avatar
beaverfuzz
Posts: 22
Joined: Sat Mar 28, 2009 1:35 pm

Re: 4k/wk 2L offer rumor

Postby beaverfuzz » Wed Oct 05, 2011 5:23 pm

Or, if you don't like the idea of giving the government an interest-free loan, take more deductions.

03121202698008
Posts: 3002
Joined: Fri Jul 17, 2009 2:07 am

Re: 4k/wk 2L offer rumor

Postby 03121202698008 » Wed Oct 05, 2011 5:44 pm

beaverfuzz wrote:Or, if you don't like the idea of giving the government an interest-free loan, take more deductions.


I think you mean exemptions as in the W4...a good deal of difference.

Also, according to the IRS witholding calculator, about 15 exemptions will give you a $150 return if you have no other income.




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.