Bar Stipend - When Do We Get It & How Much?

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Old Gregg

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Old Gregg » Thu Dec 29, 2011 6:01 pm

are getting a 10k Bar Stipend that is a SALARY ADVANCE.


So it's not a bar stipend then?

Also, who coined the title "Big 5?" Sounds like a way for Jenner and Winston kids to lump themselves with K&E, Sidley, and Mayer. Pretty sure I've never heard the title before coming on this forum.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Fri Dec 30, 2011 12:19 pm

Fresh Prince wrote:
are getting a 10k Bar Stipend that is a SALARY ADVANCE.


So it's not a bar stipend then?

Also, who coined the title "Big 5?" Sounds like a way for Jenner and Winston kids to lump themselves with K&E, Sidley, and Mayer. Pretty sure I've never heard the title before coming on this forum.


It is a term I've seen on this forum before, and is widely used on xo.

Also, Hi Mayer 2L SA! Mayer is much more similar to Jenner/Winston than Kirkland/Sidley.

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Old Gregg

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Old Gregg » Fri Dec 30, 2011 3:31 pm

Lol you don't know shit about me bro. But I agree with you about the characterization. In fact, I think the big 5 is a dumb title altogether.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby thesealocust » Fri Dec 30, 2011 6:09 pm

I think we can all agree that in the post-apocalyptic rubble known as Chicago K&E is the firm which is declining into irrelevance the least rapidly, and little else matters.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Sun Nov 26, 2017 11:20 pm

Sorry to necro, but does 'stipend' mean "money we give you as an advance on your salary (meaning it is taken out of your salary)'' or does it mean money on top of the first year salary?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Sun Nov 26, 2017 11:59 pm

Anonymous User wrote:Sorry to necro, but does 'stipend' mean "money we give you as an advance on your salary (meaning it is taken out of your salary)'' or does it mean money on top of the first year salary?


money on top. Most (all?) stipend firms give no stub year bonuses and so the stipend is in lieu of that

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Mon Nov 27, 2017 1:09 am

Most.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 3:52 pm

https://abovethelaw.com/careers/law-fir ... rst-years/

How accurate is this table? It says Skadden doesn't provide a stipend? Is this true?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 4:28 pm

Anonymous User wrote:https://abovethelaw.com/careers/law-firm-advances-bonuses-benefits-stipends-for-first-years/

How accurate is this table? It says Skadden doesn't provide a stipend? Is this true?


Skadden gives a 15k advance, that they call a bonus, and it's given in two installments.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 5:28 pm

Anonymous User wrote:https://abovethelaw.com/careers/law-firm-advances-bonuses-benefits-stipends-for-first-years/

How accurate is this table? It says Skadden doesn't provide a stipend? Is this true?


Fully accurate as to my firm. Seems in line with what I learned of other firms I was applying for 2 years ago.

Also, I know of a bunch of firms, mine included, that do stipend + prorated bonus.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 8:19 pm

Anonymous User wrote:
Anonymous User wrote:https://abovethelaw.com/careers/law-firm-advances-bonuses-benefits-stipends-for-first-years/

How accurate is this table? It says Skadden doesn't provide a stipend? Is this true?


Skadden gives a 15k advance, that they call a bonus, and it's given in two installments.


So Skaden essentially screws their incoming associates relative to other firms?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 10:00 pm

Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 10:12 pm

Anyone know Ropes & Gray's policy?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 11:56 pm

Does anyone know Proskauer’s policy?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Tue Nov 28, 2017 11:59 pm

Anonymous User wrote:Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.


I'm going to KE, and it was definitely a point in their favor when I was choosing a firm. About how much was that after taxes?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Wed Nov 29, 2017 12:24 am

Anonymous User wrote:
Anonymous User wrote:Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.


I'm going to KE, and it was definitely a point in their favor when I was choosing a firm. About how much was that after taxes?


Depends on individual, but roughly under 2/3rds. You'll get a good deal of the remainder back when you file your taxes in 2019.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Wed Nov 29, 2017 12:48 am

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.


I'm going to KE, and it was definitely a point in their favor when I was choosing a firm. About how much was that after taxes?


Depends on individual, but roughly under 2/3rds. You'll get a good deal of the remainder back when you file your taxes in 2019.


Bummer. Thanks for the information!

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Wed Nov 29, 2017 2:16 pm

Anonymous User wrote:
Anonymous User wrote:Sorry to necro, but does 'stipend' mean "money we give you as an advance on your salary (meaning it is taken out of your salary)'' or does it mean money on top of the first year salary?


money on top. Most (all?) stipend firms give no stub year bonuses and so the stipend is in lieu of that


Except for K&E. We get pro-rated stub year bonuses on top of our stipend. In NY this is huge, and one of the perks of being a non-NY based firm.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Wed Nov 29, 2017 2:27 pm

To the extent "market" exists for NY, Skadden's package of 15k advance (which doesnt include bar expenses and all that paid seperately) plus the 5k December bonus is pretty standard. Although firms like KE that give out free money must be nice.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Thu Nov 30, 2017 9:42 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.


I'm going to KE, and it was definitely a point in their favor when I was choosing a firm. About how much was that after taxes?


Depends on individual, but roughly under 2/3rds. You'll get a good deal of the remainder back when you file your taxes in 2019.



Were you told about the bar stipend in your offer or is it just generally known new associates get it?

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Fri Dec 01, 2017 2:13 am

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Kirkland $10,000 paid out June 1st minus usual taxes, bar stipend to keep, not an advance.

Honestly, the bar stipend difference between firms of otherwise similar caliber can be quite wide. It should really be a factor to consider in choosing firms, all things being equal.


I'm going to KE, and it was definitely a point in their favor when I was choosing a firm. About how much was that after taxes?


Depends on individual, but roughly under 2/3rds. You'll get a good deal of the remainder back when you file your taxes in 2019.



Were you told about the bar stipend in your offer or is it just generally known new associates get it?



The firm sends out an email in the fall following the summer with details about Bar Exam reimbursements/course signups and such. The stipend is mentioned in that email.

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Fri Dec 01, 2017 3:50 am

Old Gregg wrote:
Renzo wrote:



I am only really familiar with the plans of three firms re. bar stipends and stub-year bonuses, but this thing is substantially wrong about two of them, so I'm not sure how useful it is.


Also, I can't vouch for the veracity of this at all, but if you enjoy unsubstantiated rumor: a classmate who is headed to GDC says they give a stipend in CA and a loan in NY, because the firm feels that's what the "market" is doing in both of those places.


The rumor isn't quite as unsubstantiated as the chart says exactly that.


Yes. Gibson's motto is "Market." and in LA, they define the market as "Latham."

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Re: Bar Stipend - When Do We Get It & How Much?

Postby Anonymous User » Fri Dec 01, 2017 9:00 pm

Patent lit boutique, 15k advance that comes out of our stub-year bonus. Presumably, it would be possible to get a stub-year bonus on top of the bar stipend/advance, but I guess that depends on firm/individual performance?



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