Class Year Changeover

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Class Year Changeover

Postby Anonymous User » Mon Jun 13, 2016 10:05 pm

I'm a clerk headed to biglaw in the fall with advanced standing. I'm curious when I will move up to the next class-year. I'm assuming that it will be when all the other associates from my original year move up a year. Is that a reasonable assumption or am I completely off-base? Also, if that is a reasonable assumption, when does that generally occur? Or does it differ by firm?

Just realizing how little I actually know about how firms work. Thanks in advance for anyone who can help me out!

GoesWithTheTerritory

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Re: Class Year Changeover

Postby GoesWithTheTerritory » Mon Jun 13, 2016 10:06 pm

Whoops, didn't mean for that to be anon

imalreadyamember?

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Re: Class Year Changeover

Postby imalreadyamember? » Mon Jun 13, 2016 10:13 pm

GoesWithTheTerritory wrote:Whoops, didn't mean for that to be anon


I had the same question. My firm gives the bump on January 1st. So at my firm (I'm also clerking) I'll be a 1st-year for a couple months, then bump up to a 2nd year. If I started right off from graduation, I'd be a 1st year for 13-15ish months (depending on start date). Some firms might do it differently, but it makes sense to do it by calendar year except for the "stub year" between start date and Dec 31 of the same year.

As for your related question, it's likely you'd move up when the others do. Otherwise it would be confusing about when people move up a year. Easier to keep track if everybody is on the same schedule.

Yours might be different and this might not even be the norm, idk.

dixiecupdrinking

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Re: Class Year Changeover

Postby dixiecupdrinking » Mon Jun 13, 2016 10:24 pm

January. Haven't heard of a firm where it isn't January.

GoesWithTheTerritory

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Re: Class Year Changeover

Postby GoesWithTheTerritory » Mon Jun 13, 2016 10:28 pm

Thanks, appreciate the responses

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2014

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Re: Class Year Changeover

Postby 2014 » Mon Jun 13, 2016 11:57 pm

I believe a few firms do like March/April then pay you more to make it retroactively apply to January - it's a not very well disguised way to stop the exodus of associates that would typically occur in Jan/Feb. ATL has covered it at some point.

In any event, most raises go into effect with your first Jan paycheck.

imalreadyamember?

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Re: Class Year Changeover

Postby imalreadyamember? » Tue Jun 14, 2016 10:59 am

2014 wrote:I believe a few firms do like March/April then pay you more to make it retroactively apply to January - it's a not very well disguised way to stop the exodus of associates that would typically occur in Jan/Feb. ATL has covered it at some point.

In any event, most raises go into effect with your first Jan paycheck.


How would this stop the exodus? You either leave in Jan after receiving a bump (where you only receive the benefit for a couple weeks) or you leave in Jan after not receiving your bump yet (no benefit but not that much of a loss, plus disrespect drives you out the door easier). Then if you're lateraling you actually receive a benefit sooner. Seems shortsighted if true.

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2014

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Re: Class Year Changeover

Postby 2014 » Tue Jun 14, 2016 12:35 pm

imalreadyamember? wrote:
2014 wrote:I believe a few firms do like March/April then pay you more to make it retroactively apply to January - it's a not very well disguised way to stop the exodus of associates that would typically occur in Jan/Feb. ATL has covered it at some point.

In any event, most raises go into effect with your first Jan paycheck.


How would this stop the exodus? You either leave in Jan after receiving a bump (where you only receive the benefit for a couple weeks) or you leave in Jan after not receiving your bump yet (no benefit but not that much of a loss, plus disrespect drives you out the door easier). Then if you're lateraling you actually receive a benefit sooner. Seems shortsighted if true.

I think they bake in bonuses with it so it's a huge payout come March or April or whatever. I don't want to sound like I'm pulling this out of my ass, it's on ATL somewhere I just forget which firms. Certainly none of the heavy hitters.

imalreadyamember?

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Re: Class Year Changeover

Postby imalreadyamember? » Tue Jun 14, 2016 1:27 pm

2014 wrote:
imalreadyamember? wrote:
2014 wrote:I believe a few firms do like March/April then pay you more to make it retroactively apply to January - it's a not very well disguised way to stop the exodus of associates that would typically occur in Jan/Feb. ATL has covered it at some point.

In any event, most raises go into effect with your first Jan paycheck.


How would this stop the exodus? You either leave in Jan after receiving a bump (where you only receive the benefit for a couple weeks) or you leave in Jan after not receiving your bump yet (no benefit but not that much of a loss, plus disrespect drives you out the door easier). Then if you're lateraling you actually receive a benefit sooner. Seems shortsighted if true.

I think they bake in bonuses with it so it's a huge payout come March or April or whatever. I don't want to sound like I'm pulling this out of my ass, it's on ATL somewhere I just forget which firms. Certainly none of the heavy hitters.


Ah right, makes sense. Yeah I didn't mean to sound like I was accusing you of making it up. I've heard way stupider methods employed by firms to limit turnover...



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