cravath bar stipend or salary

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Anonymous User
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cravath bar stipend or salary

Postby Anonymous User » Mon Oct 01, 2012 1:41 pm

does anyone know if cravath gives a bar stipend or a bar salary? if so, how much is it?

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Re: cravath bar stipend or salary

Postby Anonymous User » Mon Oct 01, 2012 1:46 pm

hijacking for same question re: S&C

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Re: cravath bar stipend or salary

Postby Anonymous User » Mon Oct 01, 2012 1:47 pm

if you have an offer why wouldn't you just ask?

AppsAbound
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Re: cravath bar stipend or salary

Postby AppsAbound » Mon Oct 01, 2012 2:15 pm

Anonymous User wrote:if you have an offer why wouldn't you just ask?


Seriously. I don't understand why people think it's inappropriate to discuss money with their firms, particularly, Legal Recruiting. It's their job. They understand that people have to plan their lives, and that involves money.

If this information is sought simply to compare when it's not relevant to a personal situation, well, I can't help. And more importantly, if it's that far off, it might change in the meantime.

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Re: cravath bar stipend or salary

Postby Anonymous User » Mon Oct 01, 2012 2:29 pm

Historically, SullCrom did a salary advance but no stipend, and Cravath did a very small stipend and then a salary advance. For NYC firms, the general rules seems to be advance and no stipend.

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Re: cravath bar stipend or salary

Postby Anonymous User » Sat Feb 28, 2015 1:10 pm

http://abovethelaw.com/careers/law-firm ... rst-years/ - Anyone know if these are still accurate for Cravath? $3k stipend, $7-8k advance?

Is this what they did last year?

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jbagelboy
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Re: cravath bar stipend or salary

Postby jbagelboy » Sat Feb 28, 2015 1:58 pm

this information is publicly available: http://abovethelaw.com/careers/law-firm ... rst-years/.

Cravath does a $3000 bar stipend, $7000-8000 salary advance. Davis does the same salary advance but chucks your bar stipend back into your stub bonus. S&C does no bar stipend but pays extra costs for MPRE, ect. I think the idea is they all equal out.

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smaug
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Re: cravath bar stipend or salary

Postby smaug » Sat Feb 28, 2015 2:00 pm

Some to much of the information on the ATL thing is out of date.

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Re: cravath bar stipend or salary

Postby Anonymous User » Sat Feb 28, 2015 2:04 pm

Anonymous User wrote:http://abovethelaw.com/careers/law-firm-advances-bonuses-benefits-stipends-for-first-years/ - Anyone know if these are still accurate for Cravath? $3k stipend, $7-8k advance?

Is this what they did last year?


Thanks - above was me. Does your calling it a bar stipend imply that it will come early in the summer, rather than on my actual start date?

If so, that would help sincerely.

Thanks again,

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Re: cravath bar stipend or salary

Postby Anonymous User » Sat Feb 28, 2015 2:15 pm

jbagelboy wrote:this information is publicly available: http://abovethelaw.com/careers/law-firm ... rst-years/.

Cravath does a $3000 bar stipend, $7000-8000 salary advance. Davis does the same salary advance but chucks your bar stipend back into your stub bonus. S&C does no bar stipend but pays extra costs for MPRE, ect. I think the idea is they all equal out.


DPW reimburses you for whatever bar prep course/travel/registration costs you incur so long as you provide a receipt, it gets reimbursed upon submission for reimbursement so not sure what above posted means by chucks back. All MPRE costs are also reimbursed. Stub bonus is 25% of whatever the first year's bonus is, regardless whether you start in sept, oct or nov (i.e. 25% of $15k this year). Advance is $7500, paid back in $750 over 10 months beginning december of the year you start fulltime.

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2014
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Re: cravath bar stipend or salary

Postby 2014 » Sat Feb 28, 2015 3:56 pm

Just ask lol

orangecup
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Re: cravath bar stipend or salary

Postby orangecup » Sat Feb 28, 2015 5:24 pm

2014 wrote:Just ask lol


Lol yep. My firm mentioned it several times over the summer.

And yes, that ATL link is definitely outdated for my firm.

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Re: cravath bar stipend or salary

Postby Anonymous User » Mon Mar 02, 2015 12:29 pm

WSGR gave about $17,500 stipend (pre-tax, covering bar exam expense + living expense) to 3Ls who had committed to join the firm after graduation. Just one data point (which is in line with the ATL summary).

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Re: cravath bar stipend or salary

Postby Anonymous User » Wed May 25, 2016 2:19 pm

sorry to bump an old thread, but does anyone know what a $10k bar stipend looks like after-tax? I'm going to have to ask for a bar loan on top of the stipend before the stipend comes in to cover apartment/car deposit costs but I don't know much without knowing what will be left of it. Strangely, I never filled out any recent tax information (and the information from my SA is outdated), but since I now have dependents, I doubt my rate would be the same as other incoming associates.

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Re: cravath bar stipend or salary

Postby Anonymous User » Wed May 25, 2016 2:23 pm

Anonymous User wrote:sorry to bump an old thread, but does anyone know what a $10k bar stipend looks like after-tax? I'm going to have to ask for a bar loan on top of the stipend before the stipend comes in to cover apartment/car deposit costs but I don't know much without knowing what will be left of it. Strangely, I never filled out any recent tax information (and the information from my SA is outdated), but since I now have dependents, I doubt my rate would be the same as other incoming associates.


My firm just did the withholding based on the exemptions claimed during the summer. It was something between $6000-7000.

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Re: cravath bar stipend or salary

Postby Anonymous User » Wed May 25, 2016 2:30 pm

Anonymous User wrote:
Anonymous User wrote:sorry to bump an old thread, but does anyone know what a $10k bar stipend looks like after-tax? I'm going to have to ask for a bar loan on top of the stipend before the stipend comes in to cover apartment/car deposit costs but I don't know much without knowing what will be left of it. Strangely, I never filled out any recent tax information (and the information from my SA is outdated), but since I now have dependents, I doubt my rate would be the same as other incoming associates.


My firm just did the withholding based on the exemptions claimed during the summer. It was something between $6000-7000.


Sweet. I claimed like 21. Thanks.




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