Summer pay higher than expected...?

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Anonymous User
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Summer pay higher than expected...?

Postby Anonymous User » Tue Mar 20, 2018 1:26 pm

Received an email describing specifics of my upcoming summer associate gig.
Salary is $7,500 every 2 weeks ($3,750/week).

This pro rates to $195K over 52 weeks, which obviously is considerably higher than base market ($180K) at top firms, and is clearly higher than the circa $3,500 that typical summers make a week.

What explains this? Impending salary increase that I haven't heard any murmurs about? Rounder number? Supposed to play the role of a bonus? Any insight would be appreciated

paperrev

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Re: Summer pay higher than expected...?

Postby paperrev » Tue Mar 20, 2018 2:15 pm

Don't look a gift horse in the mouth.

Anonymous User
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Re: Summer pay higher than expected...?

Postby Anonymous User » Tue Mar 20, 2018 2:21 pm

Kirkland just really likes you!!!!

KM2016

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Re: Summer pay higher than expected...?

Postby KM2016 » Tue Mar 20, 2018 2:27 pm

I'm almost positive it's $7,500 semi-monthly, not bi-weekly, which comes out to $180k for the year. Most firms pay semi-monthly, so it wouldn't make sense to pay summer associates bi-weekly.

Anonymous User
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Re: Summer pay higher than expected...?

Postby Anonymous User » Tue Mar 20, 2018 2:34 pm

Are you sure it's $7500 every two week and not twice a month?
Most firms pay twice a month, so 24 pay periods a year, not 26.
$7500 x 24 = $180k
If it is every two weeks, enjoy the extra $$.

Anonymous User
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Re: Summer pay higher than expected...?

Postby Anonymous User » Tue Mar 20, 2018 8:26 pm

Semi-monthly (twice a month, or once every two months) and bi-weekly (twice a week, or once every two weeks) can mean the same thing. They're both vague terms.

You will be paid twice a month, which is 24 times a year. 24 * 7.5k = 180k

BeeTeeZ

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Re: Summer pay higher than expected...?

Postby BeeTeeZ » Tue Mar 20, 2018 9:02 pm

You just failed your first summer assignment: reading and understanding the terms of your position. Whatever they are paying you, its likely too much.



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