Paying Off Loans as Signing Bonus Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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Pricer
- Posts: 562
- Joined: Tue Jan 19, 2010 9:25 pm
Paying Off Loans as Signing Bonus
Has anyone ever heard of law firms paying off debts for new associates? I don't mean a $20-25k signing bonus or anything, I mean loans totaling $100k+. I was under the impression that the $160k market salary was that high because of the debt that must be accrued at law school. I have never read on this website or any other website that firms will pay off large amounts of law school debt for new associates, but I continue to hear anecdotal stories from less than reliable sources (i.e. my mom, who told me that Mercer was as good as UT because they cost near the same). I haven't bought into this, but I figured I'd pose the question on the forums anyway just to confirm my beliefs. If this is a (un)common occurrence, is it usually biglaw firms or boutique firms who do this? What firms have you heard of doing it?
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rayiner
- Posts: 6145
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Re: Paying Off Loans as Signing Bonus
The big NYC places don't even give you a signing bonus or bar stipend.
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Kilpatrick
- Posts: 1059
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Re: Paying Off Loans as Signing Bonus
How would BigLaw even get you to work there if you didn't have six figures of debt to pay off
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luthersloan
- Posts: 342
- Joined: Thu May 27, 2010 6:43 pm
Re: Paying Off Loans as Signing Bonus
Yeah, I saw the Firm too. On the birigh side, if you score a SCOTUS clerkship, a firm will give you a big enough bonus to pay off you loans, as long as you are under 200K.
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Stanford4Me
- Posts: 6240
- Joined: Thu Jan 10, 2008 1:23 am
Re: Paying Off Loans as Signing Bonus
The firm of Billups, Edwards, Tanner and Andrews gives huge signing bonuses. Only thing is you have to pay it back if you leave before 4 years.
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thesealocust
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Re: Paying Off Loans as Signing Bonus
But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
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rayiner
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Re: Paying Off Loans as Signing Bonus
Not even close. Stub bonuses this year were $2,500. Kirkland pays $10,000 bar stipend, and Latham pays $13,333.thesealocust wrote:But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
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thesealocust
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Re: Paying Off Loans as Signing Bonus
D'ohrayiner wrote:Not even close. Stub bonuses this year were $2,500. Kirkland pays $10,000 bar stipend, and Latham pays $13,333.thesealocust wrote:But do usually give an advance and a stub year bonus, from what I've heard, which works out to about the same difference.rayiner wrote:The big NYC places don't even give you a signing bonus or bar stipend.
