Big Law Stipends/Bonus Entry Level

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Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Wed Feb 20, 2019 9:48 pm

Has anyone received a stipend in addition to moving expenses?
Last edited by Anonymous User on Thu Feb 28, 2019 12:36 am, edited 1 time in total.

cavalier1138

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Re: Big Law Signing Bonus Entry Level

Postby cavalier1138 » Wed Feb 20, 2019 9:52 pm

This is way too vague (and a real solid use of the anon feature...).

Where are you entering from?

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Wed Feb 20, 2019 9:54 pm

cavalier1138 wrote:This is way too vague (and a real solid use of the anon feature...).

Where are you entering from?


T14 NYC V50, moving expense reimbursement no stipend.

cavalier1138

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Re: Big Law Signing Bonus Entry Level

Postby cavalier1138 » Wed Feb 20, 2019 10:02 pm

Anonymous User wrote:T14 NYC V50, moving expense reimbursement no stipend.


Now I'm really confused. That's literally just a mash of words that doesn't match your initial question.

Are you still in school and going to a firm after graduation?

2013

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Re: Big Law Signing Bonus Entry Level

Postby 2013 » Wed Feb 20, 2019 10:12 pm

Unless you’re like Tiffany Trump, I don’t think anyone is going to offer you a signing bonus when there are many, many other entry level associates they can choose from.

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Wed Feb 20, 2019 10:18 pm

JD/MBA here I started as a second year but no bonus.

Necho2

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Re: Big Law Signing Bonus Entry Level

Postby Necho2 » Thu Feb 21, 2019 10:02 am

This isn't nearly as vague as you guys think- he's asking about one of the least standardized parts of BigLaw comp, i.e. whether they offer a summer stipend before starting, bar expense reimbursement, or any other type of signing bonus. The person with the response reference a V50 I believe was implying that expenses are reimbursed, but his firm doesn't provide a stipend.

I think this is a very market-to-market issue, with NY generally reimbursing bar stuff and sometimes offering a salary advance, but no fixed stipend. In other markets I've heard stipends (call it a pre-start signing bonus if you'd like) are more common. The one saving grace of the NY standard is that I think they're more likely to have stub bonuses? I'm at a place that offers a stipend plus bar reimbursement, but no stub bonus I think.

cavalier1138

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Re: Big Law Signing Bonus Entry Level

Postby cavalier1138 » Thu Feb 21, 2019 12:15 pm

Necho2 wrote:This isn't nearly as vague as you guys think- he's asking about one of the least standardized parts of BigLaw comp, i.e. whether they offer a summer stipend before starting, bar expense reimbursement, or any other type of signing bonus. The person with the response reference a V50 I believe was implying that expenses are reimbursed, but his firm doesn't provide a stipend.

I think this is a very market-to-market issue, with NY generally reimbursing bar stuff and sometimes offering a salary advance, but no fixed stipend. In other markets I've heard stipends (call it a pre-start signing bonus if you'd like) are more common. The one saving grace of the NY standard is that I think they're more likely to have stub bonuses? I'm at a place that offers a stipend plus bar reimbursement, but no stub bonus I think.


Ok, but the second post seems to indicate that OP knows what his firm offers and has to know that there's no such thing as a signing bonus for incoming first years. Hence the confusion (which also results from a series of posts that aren't complete sentences).

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Thu Feb 21, 2019 7:51 pm

cavalier1138 wrote:
Necho2 wrote:This isn't nearly as vague as you guys think- he's asking about one of the least standardized parts of BigLaw comp, i.e. whether they offer a summer stipend before starting, bar expense reimbursement, or any other type of signing bonus. The person with the response reference a V50 I believe was implying that expenses are reimbursed, but his firm doesn't provide a stipend.

I think this is a very market-to-market issue, with NY generally reimbursing bar stuff and sometimes offering a salary advance, but no fixed stipend. In other markets I've heard stipends (call it a pre-start signing bonus if you'd like) are more common. The one saving grace of the NY standard is that I think they're more likely to have stub bonuses? I'm at a place that offers a stipend plus bar reimbursement, but no stub bonus I think.


Ok, but the second post seems to indicate that OP knows what his firm offers and has to know that there's no such thing as a signing bonus for incoming first years. Hence the confusion (which also results from a series of posts that aren't complete sentences).


Oh damn b/c of the anon posting (which goes to your underlying point!) I read the second post as a response to a general topic. Agree that it makes way less sense as a single person posting the topic then responding to you. Thought it was Anon #1 making a topic about this in general (which would be valuable!) and anon #2 replying with a data point.

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Re: Big Law Signing Bonus Entry Level

Postby Whatislaw » Fri Feb 22, 2019 2:18 am

Signing bonuses exist?

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FeeSimpleAbsolute

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Re: Big Law Signing Bonus Entry Level

Postby FeeSimpleAbsolute » Fri Feb 22, 2019 10:59 am

Anonymous User wrote:Signing Bonuses? Stipends?


Lol, nobody is paying junior associates a "signing bonus"
Last edited by QContinuum on Fri Feb 22, 2019 5:37 pm, edited 1 time in total.
Reason: Outed for anon abuse.

Necho2

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Re: Big Law Signing Bonus Entry Level

Postby Necho2 » Fri Feb 22, 2019 12:42 pm

Again- everyone scoffing at the concept of signing bonuses is right nomenclature-wise (outside of clerkship bonuses), but I don't think it's unreasonable to call a summer bar stipend a signing bonus, and some firms offer a salary advance instead. So that can be a 10-15k difference in compensation during that first year.

I also recall (mostly from the pretty old ATL article on the topic) that some firms offer what look like enormous bar stipends (15-20k), but then expect you to pay all expenses (moving, bar, etc.) from that amount. I suspect that a firm that offers a smaller stipend, reimburses all bar-related stuff, and pays for your move might actually be a better financial outcome than a single large lump-sum payment.

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Fri Feb 22, 2019 12:44 pm

Sorry for the noob question but it seems relevant to the discussion I was speaking to an associate at the firm I'll be summering at and then (hopefully) going to after graduation. She mentioned than incoming associates get a $10k bar stipend (not a salary advance and they also cover bar class and costs), as well as a $10k bonus at the end of our stub year.

Does this mean associates basically get $20k for taking the bar then working September to December or am I missing something?

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Re: Big Law Signing Bonus Entry Level

Postby Necho2 » Fri Feb 22, 2019 2:18 pm

Yeah that sounds pretty sweet honestly- my general recollection is that bar stipends usually preclude stub bonuses and vice versa, but if your firm is offering that (as well as bar reimbursement), you're making out a lot better than the BigLaw average.

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Re: Big Law Signing Bonus Entry Level

Postby Whatislaw » Sat Feb 23, 2019 3:41 am

FeeSimpleAbsolute wrote:
Anonymous User wrote:Signing Bonuses? Stipends?


Lol, nobody is paying junior associates a "signing bonus"


Lol that's what I thought too

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Re: Big Law Signing Bonus Entry Level

Postby oblig.lawl.ref » Sat Feb 23, 2019 4:10 am

A. Super ambiguous OP. It's more or less a series of nouns. Many of the follow ups (which I think is OP?) are also mostly just nouns. I don't understand what's going on but I could guess, I guess.

B. Fantastic that someone felt the need to defend these series of nouns as not totally ambiguous. Love that that impulse really motivated someone out there to post.

C. 3.5 years in and I don't even remember if I got a stipend but I think I did. In a major market, after taxes, with a high cost of living and loans it seems inconsequential a few years outs. I wouldn't put much thought into this. So many more important things to consider.

D. Signing bonuses are ridiculous. Never heard it called that. I have heard of a scholarship but that wasn't because of good grades at CCN alone or anything like that.

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Re: Big Law Signing Bonus Entry Level

Postby QContinuum » Sat Feb 23, 2019 11:49 pm

I believe Quinn, back when they tried eliminating their summer program, paid signing bonuses to "poach" 2L SAs from other firms. But that was pretty much limited to Quinn, and I think they are probably going to cancel the bonuses (if they haven't canceled it already, I haven't really paid attention) in light of their decision to reinstate their summer program.

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Re: Big Law Signing Bonus Entry Level

Postby BeeTeeZ » Wed Feb 27, 2019 11:24 pm

Necho2 wrote:Yeah that sounds pretty sweet honestly- my general recollection is that bar stipends usually preclude stub bonuses and vice versa, but if your firm is offering that (as well as bar reimbursement), you're making out a lot better than the BigLaw average.



Do you recall the dollar amount of such bar stipends?

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Thu Feb 28, 2019 12:00 am

BeeTeeZ wrote:
Necho2 wrote:Yeah that sounds pretty sweet honestly- my general recollection is that bar stipends usually preclude stub bonuses and vice versa, but if your firm is offering that (as well as bar reimbursement), you're making out a lot better than the BigLaw average.



Do you recall the dollar amount of such bar stipends?


I asked associates at the firm I'll be summering at and our bar stipend is $10k, plus they cover the bar fees, a prep course, and a prep course for the MPRE, but no lodging or travel to the exam. They also offer a discretionary salary advance (up to I believe $10k). This is irrespective of stub bonus.

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Re: Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Thu Feb 28, 2019 12:41 am

Latham has a 15k stipend in addition to a 3k moving stipend. They don't reimburse you for moving. They just give u cash if you have to move 50 miles or more. You are on ur own for bar prep and registration tho. No stub bonus

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Re: Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Tue May 14, 2019 10:35 am

Is anyone aware when firms usually send stipends?

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Re: Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Tue May 14, 2019 6:15 pm

moving expenses and signing bonus in Houston.

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Re: Big Law Signing Bonus Entry Level

Postby Anonymous User » Tue May 14, 2019 7:34 pm

Whatislaw wrote:
FeeSimpleAbsolute wrote:
Anonymous User wrote:Signing Bonuses? Stipends?


Lol, nobody is paying junior associates a "signing bonus"


Lol that's what I thought too


"Lol", actually yes, some elite firms do pay junior associates a "signing bonus." I interviewed with one, and know of at least 1 more. Maybe dare to dream outside your own limits, boss.

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Re: Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Tue May 14, 2019 7:40 pm

Anonymous User wrote:Is anyone aware when firms usually send stipends?


I just received my $10k summer stipend.

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Re: Big Law Stipends/Bonus Entry Level

Postby Anonymous User » Tue May 14, 2019 9:48 pm

I know Paul Hastings pays a pretty decent bar stipend (I think it's around 16k and direct bill moving expenses). I'm not exactly sure on the amount though, vaguely remember it and can't get my check until I finish my clerkship.



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