Firm Benefits

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RaceJudicata
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Re: Firm Benefits

Postby RaceJudicata » Wed Feb 22, 2017 1:25 pm

cavalier1138 wrote:
RaceJudicata wrote:Don't work there...


Why not?


Sorry, ** I don't work there

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Tue Feb 28, 2017 4:03 pm

Bump 4 mo firms

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Tue Feb 28, 2017 4:07 pm

Does Pillsbury LA really have a chef? Or is it a cook?

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LaLiLuLeLo
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Re: Firm Benefits

Postby LaLiLuLeLo » Tue Feb 28, 2017 4:11 pm

Anonymous User wrote:Does Pillsbury LA really have a chef? Or is it a cook?


Yep. Not sure which is the "correct" term.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Tue Feb 28, 2017 9:42 pm

STB

Salary advance: 9000, repaid over 24 pay periods
Bar expenses: fully covered
Relocation: fully covered
Vacation: 20 days. Can get coverage for vacations longer than 5 business days in corp; no (formal) coverage for litigation.
Gym: pays 2/3 of fees
Phone: Blackberry (data only) or $50 monthly data stipend
Tech stipend: $500 renewed every 3 years, laptop to work from home
Health insurance: shitty (I chose the middling plan which is ~$200 biweekly pay period for health/dental/vision)
401k: Fidelity, no match
Seamless: if you work after 8pm, $25 limit, loosely (not?) enforced
Black car: after 8:30
Cafeteria: pretty nice, $5 salads, large staff, lots of options made to order
Offices: newly renovated. First years share an office. Second years spend a few months in an internal office, then get solo offices. Can choose your office location. Little to no facetime since practice groups are mixed randomly.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 10:30 am

Anonymous User wrote:STB

Salary advance: 9000, repaid over 24 pay periods
Bar expenses: fully covered
Relocation: fully covered
Vacation: 20 days. Can get coverage for vacations longer than 5 business days in corp; no (formal) coverage for litigation.
Gym: pays 2/3 of fees
Phone: Blackberry (data only) or $50 monthly data stipend
Tech stipend: $500 renewed every 3 years, laptop to work from home
Health insurance: shitty (I chose the middling plan which is ~$200 biweekly pay period for health/dental/vision)
401k: Fidelity, no match
Seamless: if you work after 8pm, $25 limit, loosely (not?) enforced
Black car: after 8:30
Cafeteria: pretty nice, $5 salads, large staff, lots of options made to order
Offices: newly renovated. First years share an office. Second years spend a few months in an internal office, then get solo offices. Can choose your office location. Little to no facetime since practice groups are mixed randomly.


Thanks for this!

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 11:22 am

Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 11:36 am

Does anyone happen to have a list of the general Proskauer benefits?

Also, what options are offered for laptop/desktop/ipad? I know there's a choice, but what are the models and accessories? Is there a docking station for laptops so you can get dual monitors? What's really the best choice there? (any input from people with experience using these devices would help because I've never worked in an office with these kinda options)

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 11:46 am

Jenner & Block:

Salary Advance: Stipend of $10k after taxes (firm grosses up); no repayment required if you stay for 1 year.
Bar expenses: Firm covers a bar prep course and exam fees; does not cover other fees (including yearly bar fees, which is unusual).
Vacation: 20 days, people use some but not all of it.
Relocation: Firm contracts with movers.
Gym: n/a
Phone: Firm will provide a phone or $45/month for data.
Tech: There is a technology budget every 2 years but it's low (something like $200 or $250). Firm uses a cloud/virtual desktop environment with access terminals (like PCs) in office and separate laptops for use at home.
401k: Fidelity, no match
Food: $25 if you work after 8:00 PM; pretty strictly enforced and some clients won't pay.
Cafeteria: n/a.
Black Car: Firm gives taxi vouchers; you can sometimes reimburse a cab or Uber but not consistently.
Health Insurance: BCBS of Illinois even in non-Chicago offices; pretty good coverage in my experience.
Offices: First-years generally have their own offices; office quality depends on location.
Other: Weekly HH in Chicago and monthly HH in other offices; a $100 gift card (and a gross-up so you actually get $100 after taxes) and a sincere thank you if you bill 225+ hours for 3 consecutive months.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 11:49 am

Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


According to NALP, Wachtell does.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 11:56 am

I was pleasantly surprised to learn that my firm pays my bar fees for all three states I am barred in. Is this normal? As an FYI: The two states outside of my current state are not geographically connected to my current state nor do we have offices in those states.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 12:46 pm

Anyone got info on Morgan Lewis?

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 2:08 pm

Delete
Last edited by Anonymous User on Thu May 25, 2017 4:01 pm, edited 1 time in total.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 2:30 pm

Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


Probably depends on your definition of big law, but I know my market-paying firm does contribute at 7.5% of comp. to 401k

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 4:10 pm

Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


Probably depends on your definition of big law, but I know my market-paying firm does contribute at 7.5% of comp. to 401k


Really?! Mind sharing what firm?

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 4:11 pm

Anonymous User wrote:S&C matches 401k but I think it's only after you've been at the firm for 2-3 years.


Very interesting. What percent do they match?

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 4:44 pm

Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.

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smaug
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Re: Firm Benefits

Postby smaug » Wed Mar 01, 2017 5:05 pm

Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.

Are you sure it's not just a minor profit sharing plan and/or only open to staff and not attorneys?

I would be astounded if this were true.

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smaug
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Re: Firm Benefits

Postby smaug » Wed Mar 01, 2017 5:05 pm

Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


Probably depends on your definition of big law, but I know my market-paying firm does contribute at 7.5% of comp. to 401k

As deferment or as additional compensation?

First is very common. Second is not.

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 5:06 pm

Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.


Heard from a friend who lateraled to MoFo that they match 401k

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 5:22 pm

smaug wrote:
Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.

Are you sure it's not just a minor profit sharing plan and/or only open to staff and not attorneys?

I would be astounded if this were true.


If you look at their website, it says the following:
• a 401(k) profit-sharing plan (including a Firm contribution for associates who have worked with the Firm for 2 years, a benefit that is not generally offered by other law firms);

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smaug
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Re: Firm Benefits

Postby smaug » Wed Mar 01, 2017 5:27 pm

Anonymous User wrote:
smaug wrote:
Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.

Are you sure it's not just a minor profit sharing plan and/or only open to staff and not attorneys?

I would be astounded if this were true.


If you look at their website, it says the following:
• a 401(k) profit-sharing plan (including a Firm contribution for associates who have worked with the Firm for 2 years, a benefit that is not generally offered by other law firms);

Having worked at a firm with a 401(k) profit sharing plan, it isn't a 401(k) match. At all.

(And also, the 2 year window is worse than you'd imagine for similar plans).

clerk1251
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Re: Firm Benefits

Postby clerk1251 » Wed Mar 01, 2017 5:38 pm

smaug wrote:
Anonymous User wrote:
smaug wrote:
Anonymous User wrote:
Anonymous User wrote:Are there any biglaw firms that actually provide 401k matching or contributions? Seems like at this level of pay, they'd never do that.


I know for a fact Seward & Kissel does.

Are you sure it's not just a minor profit sharing plan and/or only open to staff and not attorneys?

I would be astounded if this were true.


If you look at their website, it says the following:
• a 401(k) profit-sharing plan (including a Firm contribution for associates who have worked with the Firm for 2 years, a benefit that is not generally offered by other law firms);

Having worked at a firm with a 401(k) profit sharing plan, it isn't a 401(k) match. At all.

(And also, the 2 year window is worse than you'd imagine for similar plans).


How does a 401k profit sharing plan work? I've never quite understood that. Is it that a portion of all the firm's annual profits gets distributed among the entire firm?

Anonymous User
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Re: Firm Benefits

Postby Anonymous User » Wed Mar 01, 2017 5:43 pm

I don't know the difference between the types of 401(k) plans but can confirm seward deposits between 7-10 grand every year into associates' 401(k)accounts, even if the assocaites don't contribute anything themselves.

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smaug
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Re: Firm Benefits

Postby smaug » Wed Mar 01, 2017 5:46 pm

I'd be interested in hearing more tales from folks who have actually worked and received payment on them, but IME the firm pays out a very small amount into 401ks for the benefit of associates, but there's no real requirement for them to do so, and the amount they disburse is in their discretion.

It amounted to almost nothing and seamless meal differences would impact your compensation more.

401(k) stuff is worth digging into, but I think it's really just "how good is a firm at setting it up as a tax dodge for you" and not "who matches" because I'm dubious that any major biglaw firm does a match for associates of any significant size.




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