Biglaw Summer Experience Forum

[Anonymous User]

Market is $3654 (190k/52 weeks). Last summer, I worked at 2 firms. One paid 3700 instead of 3654. The other one paid semimonthly so I ended up getting $3958 a week.

wow that 3958 one sounds awesome, i heard Jones day pays semimonthly (?); that would be 3k difference in 10 weeks

[popcorn123]

Market is $3654 (190k/52 weeks). Last summer, I worked at 2 firms. One paid 3700 instead of 3654. The other one paid semimonthly so I ended up getting $3958 a week.

Sorry I'm not getting it. How does being paid semimonthly result in more weekly pay?

[WFGhallager]

Market is $3654 (190k/52 weeks). Last summer, I worked at 2 firms. One paid 3700 instead of 3654. The other one paid semimonthly so I ended up getting $3958 a week.

Sorry I'm not getting it. How does being paid semimonthly result in more weekly pay?

A firm that pays semimonthly pays twice per month or 24 times each year, so 2 * 12 = 24 paychecks.

A firm that pays twice per week pays 26 times each year, so 26 paychecks.

$190,000/24 paychecks is diff than $190,000/26.

[Prudent_Jurist]

Market is $3654 (190k/52 weeks). Last summer, I worked at 2 firms. One paid 3700 instead of 3654. The other one paid semimonthly so I ended up getting $3958 a week.

Sorry I'm not getting it. How does being paid semimonthly result in more weekly pay?

A firm that pays semimonthly pays twice per month or 24 times each year, so 2 * 12 = 24 paychecks.

A firm that pays twice per week pays 26 times each year, so 26 paychecks.

$190,000/24 paychecks is diff than $190,000/26.

But twice per week *checks abacus* would be *tabulates* 8 times a month and *looks at multiplication table* that’s 96 times per year. What’s going on here?

[Anonymous User]

Market is $3654 (190k/52 weeks). Last summer, I worked at 2 firms. One paid 3700 instead of 3654. The other one paid semimonthly so I ended up getting $3958 a week.

Sorry I'm not getting it. How does being paid semimonthly result in more weekly pay?

A firm that pays semimonthly pays twice per month or 24 times each year, so 2 * 12 = 24 paychecks.

A firm that pays twice per week pays 26 times each year, so 26 paychecks.

$190,000/24 paychecks is diff than $190,000/26.

But twice per week *checks abacus* would be *tabulates* 8 times a month and *looks at multiplication table* that’s 96 times per year. What’s going on here?

They meant to say every two weeks, as opposed to twice per week.

[Anonymous User]

The offer letter will usually say something like “$36,538 for 10 weeks, paid [biweekly/semi-monthly]” so it will add up to the same total at the end regardless of how big each paycheck is.