Currently at a 2k V50 firm and can say the requirement sucks. Was cruising along and then hit a slow period and will now miss out on a significant amount of money (that I needed), and it’s completely out of my control.
That said, I do echo the generalization that minimum req firms have upsides that NR firms generally lack. From my very unscientific observations, NR firms work you harder and are harder on associates. Obviously a generalization, but it seems accurate in my experience. I guess it just comes down to what you prioritize.
How much of a benefit is having no hours minimum? Forum
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Re: How much of a benefit is having no hours minimum?
Does having no pro bono cap mitigate the concerns of an hours requirement at all? Obviously in theory; but in practice?
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Re: How much of a benefit is having no hours minimum?
Want to bring this back to what someone said earlier. It’s not just an RPL thing. It is also a market thing. Someone mentioned Kirkland being the only Chicago firm with no min. Ropes, Wilmer, and Goodwin in Boston all have minimums. And those have higher RPLs than some of the NY non-min firm.
At the end of the day, as an associate at a firm with a minimum, I think they suck. But NY firms need to compete with each other, so some “lesser” firms have no minimums even with lower RPLs. So I don’t think all associates at those firms are working “harder” or longer hours.
Also, there was an anon Kirkland partner who said that average associate hours hovered around 1950 or something. And those associates ALL get bonus. If you miss the minimum at a non-minimum firm, you’re SOL.
At the end of the day, as an associate at a firm with a minimum, I think they suck. But NY firms need to compete with each other, so some “lesser” firms have no minimums even with lower RPLs. So I don’t think all associates at those firms are working “harder” or longer hours.
Also, there was an anon Kirkland partner who said that average associate hours hovered around 1950 or something. And those associates ALL get bonus. If you miss the minimum at a non-minimum firm, you’re SOL.
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