Choosing a start date

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Anonymous User
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Choosing a start date

Postby Anonymous User » Sat Mar 31, 2012 5:17 pm

I'm a 3L starting at a firm in the fall that gives you an option of 3 start dates - mid-September, mid-October or late November.

Conflicted as to which one to take. Pros and cons of choosing different dates?

skrillt
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Re: Choosing a start date

Postby skrillt » Sat Mar 31, 2012 5:20 pm

Take the latest date dude. Do something fun. This is the rest of your life.

Anonymous User
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Re: Choosing a start date

Postby Anonymous User » Sun Apr 01, 2012 12:35 am

Another anon: any potential downsides, e.g., reputational harm? Are there any unofficial rules against picking the late date?

For example, biglaw gives you 4 weeks of vacation (at least my SA firm does) but good luck on taking all 4 weeks, even if you miraculously bill the required minimum while doing so. I don't know this for fact, but that's just common sense inference from everything I've ever read about that world.
Last edited by Anonymous User on Sun Apr 01, 2012 5:55 pm, edited 2 times in total.

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monkey85
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Re: Choosing a start date

Postby monkey85 » Sun Apr 01, 2012 12:38 am

Starting later will only affect your spring bonus (if any) since that is pro-rated for first year associates.

But as skrillt and G.T.L. Rev have already said - just take the latest date.

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ben4847
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Re: Choosing a start date

Postby ben4847 » Sun Apr 01, 2012 12:54 am

Take the first one. The income you make working that fall is taxed at much lower rates (because you are in a lower bracket), and is effectively the highest hourly wage you will make for like 5 years.

LawIdiot86
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Re: Choosing a start date

Postby LawIdiot86 » Sun Apr 01, 2012 11:10 am

I could only see this hurting in two ways. One would be if your firm treats the first year class as a single unit with a low degree of perception of the effects of the different start dates, so that at the end of the first year, you will have 320 fewer billable hours and might be judged more harshly by an inattentive partner. The other would be if your firm has a free-range method of assigning practice groups, in which case the early people will be able to make themselves available to the most desirable groups and your first assignment might in ERISA/pro bono/etc. But, this is your last chance for freedom and both of those problems are correctable after the first year.

ToTransferOrNot
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Re: Choosing a start date

Postby ToTransferOrNot » Sun Apr 01, 2012 11:12 am

I would kill to have the option of starting in September instead of October. You're giving up about $10k for each extra month. Fuck that noise.

Renzo
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Re: Choosing a start date

Postby Renzo » Sun Apr 01, 2012 11:20 am

ToTransferOrNot wrote:I would kill to have the option of starting in September instead of October. You're giving up about $10k for each extra month. Fuck that noise.


I'm with you, but that's because vacation is wasted on me. I would tell anyone else by all means they should pick the later start date, borrow as much money as they can, and go to Singapore or South Africa or someplace and live right for a while.

ToTransferOrNot
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Re: Choosing a start date

Postby ToTransferOrNot » Sun Apr 01, 2012 11:25 am

Renzo wrote:
ToTransferOrNot wrote:I would kill to have the option of starting in September instead of October. You're giving up about $10k for each extra month. Fuck that noise.


I'm with you, but that's because vacation is wasted on me. I would tell anyone else by all means they should pick the later start date, borrow as much money as they can, and go to Singapore or South Africa or someplace and live right for a while.


But then you're giving up a lot more than $10k per month (if you use the time to do expensive traveling). I mean, if someone doesn't have a lot of loans, sure; otherwise, how can anyone justify doing that? Seems crazy to me, but eh.

skrillt
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Re: Choosing a start date

Postby skrillt » Sun Apr 01, 2012 11:42 am

Trust me, you will never look back at your decision and think "man, am I glad I started work 5 weeks early. that extra 15% I got on my refund, and that extra 5% of my student loans I paid off, was totally worth it!" If you take the later start date and do something fun, you'll always look back and think "man, am I glad I had those 5 weeks to myself. Because now I am a corporate drone, and at least I have the memory of blowing lines off a bootleg copy of Die Hard 2 with that Thai hooker." Or whatever it is you people do for fun.

Renzo
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Re: Choosing a start date

Postby Renzo » Sun Apr 01, 2012 11:47 am

ToTransferOrNot wrote:
Renzo wrote:
ToTransferOrNot wrote:I would kill to have the option of starting in September instead of October. You're giving up about $10k for each extra month. Fuck that noise.


I'm with you, but that's because vacation is wasted on me. I would tell anyone else by all means they should pick the later start date, borrow as much money as they can, and go to Singapore or South Africa or someplace and live right for a while.


But then you're giving up a lot more than $10k per month (if you use the time to do expensive traveling). I mean, if someone doesn't have a lot of loans, sure; otherwise, how can anyone justify doing that? Seems crazy to me, but eh.


The more you owe, the longer it will be before you get an opportunity to travel like that. And with the amounts of money most people owe for law school, and the amounts firms pay, $20,000 (forgone and spent combined) isn't that big a deal to have a vacation the likes of which it will be a long time before you can repeat.

ToTransferOrNot
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Re: Choosing a start date

Postby ToTransferOrNot » Sun Apr 01, 2012 11:51 am

skrillt wrote:Trust me, you will never look back at your decision and think "man, am I glad I started work 5 weeks early. that extra 15% I got on my refund, and that extra 5% of my student loans I paid off, was totally worth it!" If you take the later start date and do something fun, you'll always look back and think "man, am I glad I had those 5 weeks to myself. Because now I am a corporate drone, and at least I have the memory of blowing lines off a bootleg copy of Die Hard 2 with that Thai hooker." Or whatever it is you people do for fun.


But.. you already get all of August and half of September if you take the September start date. I can totally understand not taking an August start date, if it's offered; my clerkship started August 15, so I basically got no time off after the bar--that was brutal. But having August -> October off? (Or November, as some people ITT would do.) Seems crazy. Especially because people aren't just talking about not working--they're talking about not working and using the opportunity to take out loans and do really expensive stuff. Say you take the November start date. You lose $20k in income. You spend those 2 months traveling--$5k, if you're cheap about it, but probably more--and have to borrow that money at 10%+ (sure, you might be able to get an interest-free credit card, but would you be able to pay it off before the rate jumps to 28% on you?). That's a hell of a lot of money.

Different strokes, though. As it turns out, having to wait until October works well for me, because I'm getting married in July and we can take our honeymoon in Sept (instead of cramming it into the end of August). But what we can do for our honeymoon is really constricted, because, you know, we're broke.

bdubs
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Re: Choosing a start date

Postby bdubs » Sun Apr 01, 2012 12:10 pm

I'm assuming that firms that give options like this are not in financial straits. If you were, however, worried that your firm/practice was going to face some difficulties then I would opt to start earlier so you can build relationships before the axes start falling.

keg411
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Re: Choosing a start date

Postby keg411 » Sun Apr 01, 2012 1:42 pm

I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.

legends159
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Re: Choosing a start date

Postby legends159 » Sun Apr 01, 2012 1:51 pm

keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


my sentiments in a nutshell. dem loans aint payin demselves.

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ben4847
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Re: Choosing a start date

Postby ben4847 » Sun Apr 01, 2012 1:53 pm

legends159 wrote:
keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


my sentiments in a nutshell. dem loans aint payin demselves.


Can you join LIPP for the first half year, call it the year of 2012 for example? And then since you make only 40k or so, you can get some loan repayment? cause that wuodl be the bomb.

Renzo
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Re: Choosing a start date

Postby Renzo » Sun Apr 01, 2012 4:57 pm

keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


This is exactly whyI would start in July if I could. But it's not the advice I give to other people, since people who get bored with time off and love money won't be asking for/accepting advice.

keg411
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Re: Choosing a start date

Postby keg411 » Sun Apr 01, 2012 5:04 pm

Renzo wrote:
keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


This is exactly whyI would start in July if I could. But it's not the advice I give to other people, since people who get bored with time off and love money won't be asking for/accepting advice.


True :lol:

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Old Gregg
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Re: Choosing a start date

Postby Old Gregg » Sun Apr 01, 2012 8:21 pm

Renzo wrote:
keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


This is exactly whyI would start in July if I could. But it's not the advice I give to other people, since people who get bored with time off and love money won't be asking for/accepting advice.


Your stance will change after you take the bar. Be glad you can't start in July.

shoeshine
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Re: Choosing a start date

Postby shoeshine » Sun Apr 01, 2012 8:24 pm

Anonymous User wrote:I'm a 3L starting at a potato in the fall that gives you an option of 3 start dates - mid-September, mid-October or late November.

Conflicted as to which one to take. Pros and cons of choosing different dates?


I find potatoes grow best when you plant them early in the fall. I vote for mid-September.

Renzo
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Re: Choosing a start date

Postby Renzo » Mon Apr 02, 2012 10:38 am

Fresh Prince wrote:
Renzo wrote:
keg411 wrote:I'd pick September. But that's because you can travel in August, and I personally get bored if I have too much free time. Plus, I like money.


This is exactly whyI would start in July if I could. But it's not the advice I give to other people, since people who get bored with time off and love money won't be asking for/accepting advice.


Your stance will change after you take the bar. Be glad you can't start in July.


I'm old; I was working for 10+ years before law school, so I don't think so. One reason I came to law school was that I realized I was working basically four jobs to keep myself busy, and since I was going to work 60-80 hours a week in any case I might as well consolidate it into one job and make more money.




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