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Taking a one year paycut when lateraling, thoughts?
Posted: Wed Mar 23, 2016 3:59 pm
by Anonymous User
I will be transferring over as a fifth year but the firm I am lateraling over to wants to take me on as a 4th year (since my practice will be slightly different). How common is this? Any thoughts?
Re: Taking a one year paycut when lateraling, thoughts?
Posted: Wed Mar 23, 2016 4:03 pm
by rpupkin
Anonymous User wrote:I will be transferring over as a fifth year but the firm I am lateraling over to wants to take me on as a 4th year (since my practice will be slightly different). How common is this? Any thoughts?
Quite common.
Re: Taking a one year paycut when lateraling, thoughts?
Posted: Wed Mar 23, 2016 4:06 pm
by Anonymous User
Pretty typical. I'd probably invite it because it'll give you a little more of a runway to show you're partner material.
Re: Taking a one year paycut when lateraling, thoughts?
Posted: Wed Mar 23, 2016 5:52 pm
by Anonymous User
Droping you a year is normal. Some places will pay you the salary of your graduation year (so 5th year) but make you the docked year (here a 4th year) for progression purposes (and bonus purposes usually).
Re: Taking a one year paycut when lateraling, thoughts?
Posted: Wed Mar 23, 2016 6:02 pm
by Anonymous User
I lateraled after 1.5 years, and was looking to break into a new practice area. I was entirely willing to drop a year to accomplish this goal. In fact, I fully expected my new firm to drop me down a year since I had the substantive knowledge of a 1st year on subject matter at issue. They didn't end up asking me for this, but I could totally see other firms doing it.