clerkship bonus and period of employment

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clerkship bonus and period of employment

Postby Anonymous User » Sun Mar 11, 2012 1:35 pm

Do most biglaw firm make associates sign an agreement that they'll work for a certain period of time when they pay a clerkship bonus?

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Re: clerkship bonus and period of employment

Postby Anonymous User » Mon Mar 12, 2012 9:49 am

The clerkship bonus from Arnold & Porter is payable in two installments over one year. You get half the bonus when you start, and half the bonus when you have been at the firm for a year.

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Re: clerkship bonus and period of employment

Postby Anonymous User » Mon Jun 18, 2012 11:40 pm

I was told by someone who received an offer at Jones Day that the full bonus is paid in the first paycheck, but you have to stay 1 year to keep it all (must repay prorated portion if you stay less than that).

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Re: clerkship bonus and period of employment

Postby Anonymous User » Sat Apr 18, 2015 3:03 pm

What about if offer letter is silent about the amount of time you have to stay after receiving a clerkship bonus?

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Avian
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Re: clerkship bonus and period of employment

Postby Avian » Sat Apr 18, 2015 3:17 pm

You may want to ask someone about it. Just say that you were wondering if there were any conditions on the clerkship bonus. From what I've heard firms usually have a policy about this, the details may not be in the offer letter, but I wouldn't necessarily assume that just because the offer letter didn't mention it that there are no conditions.

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Re: clerkship bonus and period of employment

Postby Anonymous User » Sat Apr 18, 2015 3:21 pm

Anyone know if the policy generally differs for SCOTUS bonuses?

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Re: clerkship bonus and period of employment

Postby Anonymous User » Sun Apr 19, 2015 2:33 am

Anonymous User wrote:I was told by someone who received an offer at Jones Day that the full bonus is paid in the first paycheck, but you have to stay 1 year to keep it all (must repay prorated portion if you stay less than that).


I've heard it's 2 years there.

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Re: clerkship bonus and period of employment

Postby Anonymous User » Sun Apr 19, 2015 3:00 am

At my firm, it's $50k payable the first week or so (I got it Day 4). You have to repay a pro rata portion of you leave in less than a year.

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Re: clerkship bonus and period of employment

Postby Anonymous User » Sun Apr 19, 2015 12:08 pm

Avian wrote:You may want to ask someone about it. Just say that you were wondering if there were any conditions on the clerkship bonus. From what I've heard firms usually have a policy about this, the details may not be in the offer letter, but I wouldn't necessarily assume that just because the offer letter didn't mention it that there are no conditions.


Second this. You're going to have to sign something along the lines of "I have read and agree to comply with all of the firm's guidelines and procedures as explained in ..." and they'll try and hold you to it if you leave.

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unlicensedpotato
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Re: clerkship bonus and period of employment

Postby unlicensedpotato » Sun Apr 19, 2015 12:08 pm

Anonymous User wrote:Anyone know if the policy generally differs for SCOTUS bonuses?


Seems like everyone who takes these bails after their year is up.

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Re: clerkship bonus and period of employment

Postby Anonymous User » Tue Apr 28, 2015 2:08 pm

Anonymous User wrote:I was told by someone who received an offer at Jones Day that the full bonus is paid in the first paycheck, but you have to stay 1 year to keep it all (must repay prorated portion if you stay less than that).


As of last year, Jones Day prorates the claw back if you leave before two years, not one.




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