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Stub year
Posted: Thu Sep 16, 2010 8:49 pm
by expat
Just curious about how the stub year works for new graduates starting at a large firm, assuming a late summer-early fall start date. How is bonus/salary/seniority calculated? I'm assuming it's done either by calendar year or by 12-month cycles, but maybe they don't all change on the same intervals.
Re: Stub year
Posted: Thu Sep 16, 2010 8:54 pm
by NYAssociate
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Re: Stub year
Posted: Thu Sep 16, 2010 9:08 pm
by expat
Interesting...thanks for the link. I take it that means most firms consider a new hire a "first year associate" and pay them first year salary for the first (12+stub) months of employment?
Re: Stub year
Posted: Thu Sep 16, 2010 9:10 pm
by NYAssociate
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Re: Stub year
Posted: Thu Sep 16, 2010 9:12 pm
by Anonymous User
Sorry to hijack, but can someone explain the difference between:
Bar Exam Reimbursements
and
Bar Stipend or Signing / Graduation Bonus
If the firm does not give the latter, does that mean I pay for BarBri/Bar Exam and are just reimbursed by the firm?
Re: Stub year
Posted: Thu Sep 16, 2010 9:18 pm
by NYAssociate
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Re: Stub year
Posted: Thu Sep 16, 2010 9:28 pm
by Anonymous User
NYAssociate wrote:Bar exam reimbursements: The firm pays for all fees associated with taking the bar exam. Almost all big firms will also cover the prep course.
Bar stipend: Money for you to live off of while you are preparing for the bar.
Apparently some firms offer a stipend on top of the bar stipend. I don't know of them, though.
Is it common for firms to provide the bar exam reimbursements, but not the stipend? What do people do, if this is the case? Take out some more loans?
Re: Stub year
Posted: Thu Sep 16, 2010 9:34 pm
by swc65
Anonymous User wrote:NYAssociate wrote:Bar exam reimbursements: The firm pays for all fees associated with taking the bar exam. Almost all big firms will also cover the prep course.
Bar stipend: Money for you to live off of while you are preparing for the bar.
Apparently some firms offer a stipend on top of the bar stipend. I don't know of them, though.
Is it common for firms to provide the bar exam reimbursements, but not the stipend? What do people do, if this is the case? Take out some more loans?
I believe some firms offer a salary advance in lieu of a stipend or in addition to it.
Re: Stub year
Posted: Thu Sep 16, 2010 9:37 pm
by NYAssociate
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