Paid Monthly in Big Law? Forum

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

[bk1]

I have seen at least 1 firm (as well as several other employers) have different pay frequencies for different types of employees. I'm not sure why they do it, but they do do it.

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

My firm paid us twice a month as summers and once a month as actual associates, so yes, it does happen.

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

My firm paid us twice a month as summers and once a month as actual associates, so yes, it does happen.

It just seems strange and I'm not seeing the advantage to this system. How was adjusting to getting paid only once a month?

[bk1]

Are you really expecting it to be hard to budget your spending based on getting a nearly 5 figure check once a month as opposed to getting smaller but still large checks twice a month?

[Anonymous User]

Are you really expecting it to be hard to budget your spending based on getting a nearly 5 figure check once a month as opposed to getting smaller but still large checks twice a month?

Yes, yes I am.

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

My firm paid us twice a month as summers and once a month as actual associates, so yes, it does happen.

It just seems strange and I'm not seeing the advantage to this system. How was adjusting to getting paid only once a month?

No idea what the advantage is on their part (other than making more in interest by keeping some cash in the bank for an extra couple weeks each month, but interest is like nothing these days so who knows). After that first couple months I had enough of a cushion that it didn't really matter to me. Makes that one day a month pretty sweet to open my account and see a big direct deposit, which helps if my morale is flagging.

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

My firm paid us twice a month as summers and once a month as actual associates, so yes, it does happen.

It just seems strange and I'm not seeing the advantage to this system. How was adjusting to getting paid only once a month?

No idea what the advantage is on their part (other than making more in interest by keeping some cash in the bank for an extra couple weeks each month, but interest is like nothing these days so who knows). After that first couple months I had enough of a cushion that it didn't really matter to me. Makes that one day a month pretty sweet to open my account and see a big direct deposit, which helps if my morale is flagging.

Interesting. Thanks for sharing. I know it will be fine, I just thought it was odd.

[84651846190]

Are you really expecting it to be hard to budget your spending based on getting a nearly 5 figure check once a month as opposed to getting smaller but still large checks twice a month?

Yes, yes I am.

Jesus Christ. Exercise some modicum of control over your spending.

[Pokemon]

Are you really expecting it to be hard to budget your spending based on getting a nearly 5 figure check once a month as opposed to getting smaller but still large checks twice a month?

Yes, yes I am.

Jesus Christ. Exercise some modicum of control over your spending.

Tbf, it is kind of a fair concern. Plenty of people do not get bar loans and struggle until that first pay check. Having to wait for an extra two weeks is quite a deal.

[bk1]

Tbf, it is kind of a fair concern. Plenty of people do not get bar loans and struggle until that first pay check. Having to wait for an extra two weeks is quite a deal.

This is a generous interpretation of what seem to be OP's concerns.

[Anonymous User]

Just got my official offer letter from a lower V-100 firm in a secondary market and it said that we will be paid monthly. They paid us twice a month this summer. Has anyone heard of this?

My firm paid us twice a month as summers and once a month as actual associates, so yes, it does happen.

It just seems strange and I'm not seeing the advantage to this system. How was adjusting to getting paid only once a month?

No idea what the advantage is on their part (other than making more in interest by keeping some cash in the bank for an extra couple weeks each month, but interest is like nothing these days so who knows)

Seems obvious that there must be some cost savings from having to process payroll once a month rather than twice or more.

I'm pretty sure the US is unique or close to it in how short the pay periods are here. People get paid monthly in much of the world (and the standard unit for evaluating income is the monthly salary, not yearly income. No one in the regions of the world I'm familiar with would say they earn $160,000 a year, instead of $13,333 a month).

[sublime]

..

[Anonymous User]

Are you really expecting it to be hard to budget your spending based on getting a nearly 5 figure check once a month as opposed to getting smaller but still large checks twice a month?

Yes, yes I am.

Jesus Christ. Exercise some modicum of control over your spending.

Must.ball.so.hard.though....