The latest going-ons in “big law” are starting to draw interest from the mainstream press.
This week Yahoo Finance put up an article about big firms asking their incoming first-year associates to defer their start date, in some cases up to a year. Many firms are paying a partial salary or stipend to retain their associates through the deferment. Reportedly some stipends are as high as $80,000, which would be half the first-year salary at most big firms.
In many cases the associates do not have a choice. But suppose you did. Which would you rather, $160,000 to work as a “big law” junior associate, or $80,000 to do your own thing for a year?
As a former big law associate, let me assure you there is only one right answer. Defer for a year, and then see if you can get them to defer you a few more years. Thirty would be ideal.