What's going on at Ropes & Gray?

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floatie

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What's going on at Ropes & Gray?

Post by floatie » Thu Sep 10, 2020 4:33 pm

They just announced a voluntary one-year deferral ($80 for pro bono deferral; $38k for a one-year sabbatical). Even though it's voluntary (for now), it's a little alarming that a V20 firm would need to offer an austerity measure that goes far beyond a deferral to Jan/Feb, and begs the question about whether (and how many) other firms will offer similar measures, either voluntarily or involuntarily. Does anyone have any insight about what's going on at Ropes & Gray?

12YrsAnAssociate

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Re: What's going on at Ropes & Gray?

Post by 12YrsAnAssociate » Thu Sep 10, 2020 6:44 pm

I wish to god I had the option to do a cushy feel-good fellowship for 80k, with the promise that I could return to soul crushing biglaw in a year.

2013

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Re: What's going on at Ropes & Gray?

Post by 2013 » Thu Sep 10, 2020 7:22 pm

I have no knowledge on this, but I don’t think it’s a revenue problem for ropes. I think it’s actually pretty smart. A lot of the first years won’t even take the bar for a while (is it October or November now?), and on boarding over a hundred first years would be a nightmare.

I think it’s a logistical headache to onboard these first years, so ropes is taking this route. Obviously it’s unfair to incoming associates, but $80k for pro bono would be great.

Scallion

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Re: What's going on at Ropes & Gray?

Post by Scallion » Thu Sep 10, 2020 7:40 pm

12YrsAnAssociate wrote:
Thu Sep 10, 2020 6:44 pm
I wish to god I had the option to do a cushy feel-good fellowship for 80k, with the promise that I could return to soul crushing biglaw in a year.
Not to stoke fears, but just remember how little the promise that you're welcome back mattered in 2009-2010. Many firms broke the promise. People who accept this risk not returning to biglaw again, by force or desire, but more likely by force.

https://www.nytimes.com/2010/08/20/us/20defer.html
https://abovethelaw.com/2010/06/simpson ... omed-back/
https://abovethelaw.com/2009/05/dewey-l ... ssociates/

M92

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Re: What's going on at Ropes & Gray?

Post by M92 » Thu Sep 10, 2020 7:59 pm

It’s not $80K, it’s for $90K + $10K loan for the pro bono option.

The payment for the “Sabbatical Program” (i.e., sit home and do nothing if you want) is $48.8K + $10K loan.

“ And, whether you participate in either of these programs or start on January 20, 2021, you will still receive the $10,000 stipend and remain eligible for the $10,000 loan”
https://abovethelaw.com/2020/09/am-law- ... ll-2021/2/

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12YrsAnAssociate

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Re: What's going on at Ropes & Gray?

Post by 12YrsAnAssociate » Thu Sep 10, 2020 8:11 pm

Scallion wrote:
Thu Sep 10, 2020 7:40 pm
12YrsAnAssociate wrote:
Thu Sep 10, 2020 6:44 pm
I wish to god I had the option to do a cushy feel-good fellowship for 80k, with the promise that I could return to soul crushing biglaw in a year.
Not to stoke fears, but just remember how little the promise that you're welcome back mattered in 2009-2010. Many firms broke the promise. People who accept this risk not returning to biglaw again, by force or desire, but more likely by force.

https://www.nytimes.com/2010/08/20/us/20defer.html
https://abovethelaw.com/2010/06/simpson ... omed-back/
https://abovethelaw.com/2009/05/dewey-l ... ssociates/
Might happen here. But I think Ropes' offer is different. Most importantly, Ropes' offer is optional, so the associates can go to Ropes and collect their 190k if that's what they want to do. It's been awhile since 2009, by my recollection is that those deferrals were not optional. In any event, I'd take this in a heartbeat if offered, but maybe that's just the bajillion looming deadlines talking.

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Re: What's going on at Ropes & Gray?

Post by Anonymous User » Fri Sep 11, 2020 12:04 pm

Ropes associate here - just wanted to note that (1) the same pro bono fellowship is being offered to all current associates, not just the incoming class. I know of two midlevels planning to apply to the program. And (2) Ropes offered a similar voluntary 1-year deferral back in 2008-09 and honored all offers to incoming associates, both amongst those who took the deferral and those who did not.

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Re: What's going on at Ropes & Gray?

Post by Anonymous User » Fri Sep 11, 2020 12:41 pm

Cleary Gottlieb offered a similar pro bono program with 95k/year

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