Budgeting 160K for newbs

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Big Shrimpin
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Re: Budgeting 160K for newbs

Postby Big Shrimpin » Mon Oct 28, 2013 9:53 pm

thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


Really? I was under the impression it was 10K salary advance for most firms.

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thesealocust
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Re: Budgeting 160K for newbs

Postby thesealocust » Mon Oct 28, 2013 10:42 pm

Big Shrimpin wrote:
thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


Really? I was under the impression it was 10K salary advance for most firms.


Firms I'm familiar with in NYC were a salary advance + bar expenses + relocation expenses (broker's fee, movers, transportation) if you were from afar. I assumed it was standard but I could be wrong.

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Big Shrimpin
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Re: Budgeting 160K for newbs

Postby Big Shrimpin » Mon Oct 28, 2013 11:32 pm

thesealocust wrote:
Big Shrimpin wrote:
thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


Really? I was under the impression it was 10K salary advance for most firms.


Firms I'm familiar with in NYC were a salary advance + bar expenses + relocation expenses (broker's fee, movers, transportation) if you were from afar. I assumed it was standard but I could be wrong.


I've heard various arrangements. I had like 5K free cash plus bar expenses.

Anonymous User
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Re: Budgeting 160K for newbs

Postby Anonymous User » Tue Oct 29, 2013 7:22 am

thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


What if my law school is out of town, but I have family in NYC (with whom I do not intend to stay)?

keg411
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Re: Budgeting 160K for newbs

Postby keg411 » Tue Oct 29, 2013 8:37 am

Anonymous User wrote:
thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


What if my law school is out of town, but I have family in NYC (with whom I do not intend to stay)?


I don't see that being a problem, since there are firms that even cover moves within NYC. But these types of benefits are all on an individual firm basis, so you'll just have to see your firm's policy when the time comes. If I were you I wouldn't worry about it.

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guano
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Re: Budgeting 160K for newbs

Postby guano » Tue Oct 29, 2013 8:37 am

Anonymous User wrote:
thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


What if my law school is out of town, but I have family in NYC (with whom I do not intend to stay)?

Do you have an offer? If so, ask recruiting.

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thesealocust
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Re: Budgeting 160K for newbs

Postby thesealocust » Tue Oct 29, 2013 8:42 am

It's almost certainly based on where your law school is. They'll treat you like an adult and notice you've spent 3 years in city Y and need to move and start working in city X. I can't even imagine them asking about your family.

As noted though, it's very firm specific.

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Big Shrimpin
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Re: Budgeting 160K for newbs

Postby Big Shrimpin » Tue Oct 29, 2013 9:45 am

guano wrote:
Anonymous User wrote:
thesealocust wrote:Most big NYC firms will cover part or all of a broker's fee if you're relocating from out of town, as well as paying for movers and transportation to the city.


What if my law school is out of town, but I have family in NYC (with whom I do not intend to stay)?

Do you have an offer? If so, ask recruiting.


Ya that's what they're there for.

redsox550
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Re: Budgeting 160K for newbs

Postby redsox550 » Tue Oct 29, 2013 12:32 pm

so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?

AllTheLawz
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Re: Budgeting 160K for newbs

Postby AllTheLawz » Tue Oct 29, 2013 1:16 pm

redsox550 wrote:so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?


Yep. And I think this is somewhat driven by tax considerations. Must live so many number of miles away from the employer for employer to be able to deduct relocation expenses I believe.

redsox550
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Re: Budgeting 160K for newbs

Postby redsox550 » Tue Oct 29, 2013 1:21 pm

AllTheLawz wrote:
redsox550 wrote:so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?


Yep. And I think this is somewhat driven by tax considerations. Must live so many number of miles away from the employer for employer to be able to deduct relocation expenses I believe.


anyone pull this off, like go to NYC school then report your families address out-of-state or something. Because broker fees + this other stuff can be serious dough

anyhow i didnt even start my SA yet, i should prob wait a bit to start thinking about this

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thelawyler
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Re: Budgeting 160K for newbs

Postby thelawyler » Tue Oct 29, 2013 1:31 pm

redsox550 wrote:
AllTheLawz wrote:
redsox550 wrote:so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?


Yep. And I think this is somewhat driven by tax considerations. Must live so many number of miles away from the employer for employer to be able to deduct relocation expenses I believe.


anyone pull this off, like go to NYC school then report your families address out-of-state or something. Because broker fees + this other stuff can be serious dough

anyhow i didnt even start my SA yet, i should prob wait a bit to start thinking about this


Well, to be fair, if you moved out of NYC in May after finals and then started in October... that's 5 months of being out of the city. Does that count then?

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thesealocust
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Re: Budgeting 160K for newbs

Postby thesealocust » Tue Oct 29, 2013 1:34 pm

Ask your firms. They've got staff to handle these questions and issues.

I'd be surprised if you could pull off getting relocation money if you went to law school in the same city as your firm. "I got a job offer then moved away and now I need to move back" seems like the kind of thing somebody along the chain between the firm's HR and the IRS might not be thrilled with... but if you can make it work, more power to ya'.

redsox550
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Re: Budgeting 160K for newbs

Postby redsox550 » Tue Oct 29, 2013 1:38 pm

thelawyler wrote:
redsox550 wrote:
AllTheLawz wrote:
redsox550 wrote:so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?


Yep. And I think this is somewhat driven by tax considerations. Must live so many number of miles away from the employer for employer to be able to deduct relocation expenses I believe.


anyone pull this off, like go to NYC school then report your families address out-of-state or something. Because broker fees + this other stuff can be serious dough

anyhow i didnt even start my SA yet, i should prob wait a bit to start thinking about this


Well, to be fair, if you moved out of NYC in May after finals and then started in October... that's 5 months of being out of the city. Does that count then?


exactly what im wondering

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thelawyler
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Re: Budgeting 160K for newbs

Postby thelawyler » Tue Oct 29, 2013 2:39 pm

thesealocust wrote:Ask your firms. They've got staff to handle these questions and issues.

I'd be surprised if you could pull off getting relocation money if you went to law school in the same city as your firm. "I got a job offer then moved away and now I need to move back" seems like the kind of thing somebody along the chain between the firm's HR and the IRS might not be thrilled with... but if you can make it work, more power to ya'.


Yeah. But NYU's study abroad programs are in the spring, so if anybody does that for 3L year and thus is outside of the city for 10 months, I can see it being a question that is not too uncommon for NY firms.

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guano
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Re: Budgeting 160K for newbs

Postby guano » Tue Oct 29, 2013 4:19 pm

AllTheLawz wrote:
redsox550 wrote:so if I'm at NYU and moving into a different NYC apartment I shouldn't expect any help with moving expenses, broker fees ect.?


Yep. And I think this is somewhat driven by tax considerations. Must live so many number of miles away from the employer for employers to be able to deduct relocation expenses I believe.

Tax deduction for relocation expenses requires 50 miles




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