BigLaw advancement timeline question.

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Anonymous User
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BigLaw advancement timeline question.

Postby Anonymous User » Fri Nov 28, 2014 12:00 am

I'm a 2L trying to plan out a rough budget based on the market I'm SA'ing in and pay, bonuses, etc. I'm wondering how associate year is determined and when promotions happen.

Does the stub year count as part of your 1st-year associate year (i.e. advanced in September of the next year) or is it Jan-Dec with bonus season corresponding to class advancement? If this is more firm specific, V5 firms are my main concern. Thanks!

delusional
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Re: BigLaw advancement timeline question.

Postby delusional » Fri Nov 28, 2014 12:13 am

Anonymous User wrote:I'm a 2L trying to plan out a rough budget based on the market I'm SA'ing in and pay, bonuses, etc. I'm wondering how associate year is determined and when promotions happen.

Does the stub year count as part of your 1st-year associate year (i.e. advanced in September of the next year) or is it Jan-Dec with bonus season corresponding to class advancement? If this is more firm specific, V5 firms are my main concern. Thanks!

I heard from a friend who is a second year that you move up (i.e. your paycheck changes) on January 1st, so you are paid 160k for the first fifteen months or so. The marginally interesting twist is that your firm changes your billing rate on the anniversary of your start date. So you're actually more profitable to the firm in September - December.

ZyzzBrah
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Re: BigLaw advancement timeline question.

Postby ZyzzBrah » Fri Nov 28, 2014 12:19 pm

^^this

joining a firm after clerkship (will enter as a second year) and this is what I was told

your class year changes before your salary reflects the change, at least at my firm

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Desert Fox
Progressively loosing literacy
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Re: BigLaw advancement timeline question.

Postby Desert Fox » Fri Nov 28, 2014 3:22 pm

delusional wrote:
Anonymous User wrote:I'm a 2L trying to plan out a rough budget based on the market I'm SA'ing in and pay, bonuses, etc. I'm wondering how associate year is determined and when promotions happen.

Does the stub year count as part of your 1st-year associate year (i.e. advanced in September of the next year) or is it Jan-Dec with bonus season corresponding to class advancement? If this is more firm specific, V5 firms are my main concern. Thanks!

I heard from a friend who is a second year that you move up (i.e. your paycheck changes) on January 1st, so you are paid 160k for the first fifteen months or so. The marginally interesting twist is that your firm changes your billing rate on the anniversary of your start date. So you're actually more profitable to the firm in September - December.


Not all firms handle it the same way. I know of firms that don't change until March 1. Of those, some backpay til Jan 1 and some don't.




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