When do NYC firms give advances to new hires?

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Anonymous User
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When do NYC firms give advances to new hires?

Postby Anonymous User » Wed Feb 13, 2013 9:03 pm

I'm a 3L and I will be graduating in May and starting at a firm in early October. I know my firm offers incoming associates an advance to help with costs after graduation. It's only February so I don't want to ask them about it just yet. But does anyone know when NYC firms usually offer advances to new hires? Right after graduation? Right after the bar? Thank you.

desertlaw
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Joined: Thu Oct 22, 2009 3:03 pm

Re: When do NYC firms give advances to new hires?

Postby desertlaw » Wed Feb 13, 2013 11:08 pm

Depends on the firm. Mine is sometime in April, I think. Just e-mail the cool recruiting lady/dude from your summer experience and I'm sure they'll give you an answer.

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thesealocust
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Re: When do NYC firms give advances to new hires?

Postby thesealocust » Wed Feb 13, 2013 11:14 pm

At least some firms do 3 months before your start date.

Anonymous User
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Re: When do NYC firms give advances to new hires?

Postby Anonymous User » Wed Feb 13, 2013 11:22 pm

Started in September, got my stipend in May.

I spent it all in a day.

Anonymous User
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Re: When do NYC firms give advances to new hires?

Postby Anonymous User » Thu Feb 14, 2013 1:03 am

Mine has two options for advances: one in March and one in June, but you have to ask for it. I guess my question is whether or not there's a point to even taking it. My gut says no since I don't really spend all that much money, but I'm trying to think if there's a reason to take it (they're paying BarBri/Bar Exam costs, moving expenses, etc. so I guess I don't see the point).

kryptix
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Re: When do NYC firms give advances to new hires?

Postby kryptix » Fri Feb 15, 2013 5:28 pm

Anonymous User wrote:Mine has two options for advances: one in March and one in June, but you have to ask for it. I guess my question is whether or not there's a point to even taking it. My gut says no since I don't really spend all that much money, but I'm trying to think if there's a reason to take it (they're paying BarBri/Bar Exam costs, moving expenses, etc. so I guess I don't see the point).


Remember time value of money :)

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IrwinM.Fletcher
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Re: When do NYC firms give advances to new hires?

Postby IrwinM.Fletcher » Fri Feb 15, 2013 6:13 pm

kryptix wrote:
Anonymous User wrote:Mine has two options for advances: one in March and one in June, but you have to ask for it. I guess my question is whether or not there's a point to even taking it. My gut says no since I don't really spend all that much money, but I'm trying to think if there's a reason to take it (they're paying BarBri/Bar Exam costs, moving expenses, etc. so I guess I don't see the point).


Remember time value of money :)


Yep- if it's interest-free, why not? Better to have it just in case something comes up.




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