Last week, we posted Part One of the results from our ATL / Lateral Link survey on bar stipends and reimbursements, salary advances, and signing bonuses, and covered the range of firms from Akin Gump to Drinker Biddle. We got quite a few tips in response, as well as one of my favorite comments of the week:
Nooooo. I need to know about firms in the ‘W’s! I hate waiting.
Find out whether today’s installment will get far enough to satisfy our poor reader at Weil, WilmerHale, Wachtell, Winston, or Whatnot … after the jump.
But before we get there, let’s quickly review what we said about the table last week:
The table below shows four things for each firm:
* how the firm helps new associates with bar exam expenses (reimbursement of actual expenses or a fixed stipend),
* whether the firm pays new associates a signing bonus or graduation bonus (not counting clerkship bonuses, which are discussed elsewhere),
* whether the firm provides salary advances (i.e., loans) in any particular amounts, and
* whether the firm provides a pro-rated bonus (a “stub bonus”) for the period between your start date and the end of the year first year.
As always, please send us a tip if any of the details about your firm are missing or wrong or fraught with nuance. (Or, if you’re going to be at this week’s NALP conference in Toronto, feel free to say hello in person.)
And now, that introduction aside, read on to see the second batch of results from our ATL / Lateral Link survey on bar stipends and reimbursements, salary advances, and signing bonuses, after the jump.
Update: An updated, extended version of this table is now here. Click on over to see if we made it to Latham, MoFo, Wachtell, or $190K.
And, of course, if you’d like to add, update, or clarify any details about your firm please send us a tip.
Bar Expenses, Starting Bonuses, and Advances By Firm - Akin Gump to Kirkland & Ellis
Firm | Bar Exam Stipend or Reimbursement | Signing or Graduation Bonus | Salary Advance | Stub Bonus |
Akin Gump - DC | BarBri and PMBR Exam fees $7,500 stipend | None. | None. | $1,000 |
Akin Gump - Houston | $3,000 stipend | $11,000 | None. | None. |
Allen & Overy | Bar review course Exam expenses | None. | $12,000 | $8,750* |
Alston & Bird | BarBri (direct billing) Exam fees Hotel | None. | $7,500 | None. |
Arnold & Porter | $6,000 to $12,000 stipend | None. | $0 to $7,000 | None. |
Baker & Hostetler - DC | $3,000 stipend | $5,000 | None. | None. |
Baker & Hostetler - NY | $5,000 stipend | None. | None. | None. |
Baker & McKenzie - Dallas | $5,000 stipend | $10,000 | None. | None. |
Baker & McKenzie - NY | $5,000 stipend | None. | $5,000 | $8,000 |
Baker & McKenzie - Palo Alto | $15,000 stipend | None. | None. | None. |
Baker Botts | BarBri and PMBR Exam fees Hotel | $5,500 signing bonus $5,000 graduation bonus | None. | None. |
Balch & Bingham | None. | $5,000 | $10,000 | None. |
Ballard Spahr | $5,000 stipend | None. | None. | None. |
Berenbaum, Weinshienk & Eason | None. | None. | None. | None. |
Bingham | BarBri (direct billing) | None. | $10,000 | None. |
Blank Rome - NY | $6,000 stipend | None. | None. | None. |
Blank Rome - Philadelphia | $5,000 to $8,000 stipend | None. | None. | None. |
Boies, Schiller and Flexner | BarBri (direct billing) Exam expenses | None. | $10,000 | None. |
Bracewell & Giuliani | None. | $10,000 | None. | None. |
Bryan Cave - DC | None. | None. | $10,000 | None. |
Bryan Cave - NY | $0 to $3,000 stipend | None. | $10,000 | None. |
Cadwalader | Bar review course Exam expenses Travel | None. | $7,000 to $10,000 | $0 to $18,000* |
Cahill Gordon & Reindel | Bar review course Exam expenses Travel | None. | $7,000 to $10,000 | $0 to $11,000 |
Chadbourne & Parke | Bar review course Exam expenses Travel | None. | $10,000 | $9,400* |
Chapman and Cutler | $12,000 stipend | None. | $3,000 | None. |
Cleary Gottlieb | Bar review course Exam expenses Travel | None. | $10,000 | $10,000*** |
Clifford Chance | Bar review course Exam expenses Travel | None. | $10,000 | $0 to 5,000 |
Cole, Scott & Kissane | None. | None. | None. | None. |
Cooley Godward | Bar review course PMBR Exam expenses Hotel $18,461.54 stipend**. | None. | case by case | None. |
Covington & Burling | $8,000 stipend | None. | None. | None. |
Cravath | Bar review course Exam expenses Travel | $3,000 | $7,000 to 8,000 | $7,500 to $10,000 |
Davis Polk | Bar review course Exam expenses Travel | None. | $7,000 to $8,000 | $0 to $13,000* |
Debevoise | Bar review course Exam expenses | None. | $10,000 | $0 to $12,000 |
Dechert - NJ | $8,000 stipend | None. | None. | $3,000 |
Dechert - NY & DC | $5,000 stipend | None. | $0 to $10,000 | $10,000 |
Dechert - PA | $11,000 to $12,000 stipend | None. | None. | $0 to $3,000 |
Dewey & LeBoeuf | BarBri or Pieper (direct billing) PMBR (direct billing) Bar and MPRE expenses Travel | None. | $0 to $10,000 | $10,000* |
Dickinson Dees | None. | None. | $5,000 | None. |
Dickstein Shapiro | $4,000 stipend | None. | $5,000 | None. |
DLA Piper - CA | Bar review course Exam expenses | $15,000 | None. | None. |
DLA Piper - NY | None. | None. | $10,000 | None. |
DLA Piper - Seattle | $12,000 stipend | None. | None. | None. |
Dorsey & Whitney - MN | Bar review course Exam expenses | $5,000 | $5,000 | None. |
Dorsey & Whitney - NY | $3,000 stipend | $5,000 | $5,000 | None. |
Dow Lohnes | $5,000 stipend | None. | $5,000 | None. |
Drinker Biddle & Reath | $10,000 stipend “bar-related expenses” | None. | None. | None. |
Fish & Richardson | $10,000 stipend | None. | $10,000 | None. |
Foley & Lardner | Bar review course Exam expenses | None. | $10,000 | None. |
Fox Rothschild | $3,000 stipend | $5,000 | None. | None. |
Freshfields | None. | $10,000 | $10,000 or more | Pro-rated bonus |
Fried Frank | Bar review course PMBR Exam fees | $3,000 | $10,000 | $10,000 |
Fulbright & Jaworski | $4,000 stipend | $10,000 | $10,000 | None. |
Gardere | $5,000 stipend | $5,000 | None. | None. |
Gibson Dunn | Bar review course Exam fees $12,000 to $13,333 stipend | None. | None. | $0 to $9,000 |
Goodwin Procter | Bar review course PMBR Exam fees | None. | $5,000 | $0 to $8,000 |
Greenberg Traurig | None. | $5,000 | None. | Pro-rated bonus |
Haynes and Boone | $6500 | $4500 | None. | $5,000 |
Heller Ehrman | Bar review course Exam fees $12,000 stipend | None. | None. | None. |
Hodgson Russ | $5,000 stipend | None. | None. | $0 to $3,000 |
Hogan & Hartson | $2,000 to $6,000 stipend | None. | None. | None. |
Holland & Knight | Bar review course Exam expenses | $5,000 | None. | None. |
Holland & Knight - Boston | $5,000 stipend | $5,000 | None. | None. |
Holland & Knight - DC | $3,000 stipend | $7,000 | None. | None. |
Holme Roberts & Owen | $5,000 stipend | None. | None. | None. |
Howrey | $12,000 stipend | None. | $10,000 | None. |
Hughes Hubbard | Bar review course Exam fees | None. | $10,000 | None. |
Hunton & Williams | $8,000 stipend | None. | $3,000 | None. |
Irell & Manella | Bar review course Exam fees $15,000 stipend (5 weeks pay) | None. | case by case | Pro-rated bonus* |
Jenner & Block | Bar review course PMBR MPRE Prep Exam expenses $13,000 stipend | None. | None. | None. |
Jones Day - Dallas | $3,000 stipend | $10,000 | None. | None. |
Jones Day - DC | $10,000 stipend | None. | None. | None. |
Jones Day - NY | $6,000 to $8,000 stipend | None. | $6.000 to $7,000 | $0 to $8,000 |
Jones Walker | $3,000 stipend | None. | $5,000 | None. |
K&L Gates - NY | None. | None. | $5,000 | None. |
K&L Gates - Seattle | None. | $4,000 to $10,000 | None. | None. |
Kasowitz Benson | Bar review course Exam fees | None. | $5,000 to $10,000 | $10,000 |
Katten Muchin Rosenman | BarBri (direct billing) Exam fees $9,000 stipend | None. | None. | None. |
Kaye Scholer - LA | None. | None. | None. | None. |
Kaye Scholer - NY | $3,000 stipend | None. | $5,000 | $10,000 |
Keker & Van Nest | $10,000 stipend | None. | None. | None. |
Kelly, Hart & Hallman | $4,000 stipend | $10,000 | None. | $5,000 |
Kilpatrick Stockton | None. | $5,000 to $10,000 | None. | None. |
King & Spalding - Atlanta | None. | $10,000 | None. | None. |
King & Spalding - DC | $3,000 stipend | None. | $5,000 | None. |
Kirkland & Ellis | Bar review course Exam fees $0 to $4,000 stipend | $10,000 bonus*** | None. | Full bonus (based on August year-end) |
* Allen & Overy pays a pro-rated bonus based on a $35,000 annual bonus (which would usually work out to $8,750 based on a 1/4 proration).
Chadbourne & Parke pays a pro-rated bonus which would usually work out to $9,400.
Cleary Gottleib and Cadwalader pay a pro-rated “market” bonus which would usually work out to $10,000 at Cleary and ranges up to $18K at Cadwalader (which appears to pay NY market in all offices).
Davis Polk pays a pro-rated bonus based on a $30,000 to $35,000 annual bonus.
Dewey & LeBoeuf pays a pro-rated annual bonus which works out to $5K to $10K in most offices.
Irell & Manella pays a pro-rated bonus based on a $47,500 annual bonus (which would work out to about $12K based on a 1/4 proration).
** Cooley Godward pays “six weeks” salary. This either means $18,461.54 ($160K * 6/52) or $20,000 (three semi-monthly installments of $6,666.67.) Since most people clicked on “$18,000” or wrote in a 6/52 calculation, we’re putting $18,461.54 in the table for now.
*** Katten and Kirkland associates in Chicago may receive more under a PILI fellowship. At Katten, the associates participating in a PILI fellowship will receive an additional $7,000 stipend in May. At Kirkland, associates may opt to take 10 weeks pay under a PILI fellowship instead of the $10,000 signing bonus (which works out to over $30,000).
Stay tuned for the next installment of this table. Will we make it to Pillsbury? Skadden? WilmerHale? Find out next week. In the meantime, please keep those tips, updates and corrections coming!
Comments
Comments hidden for your protection. Show them anyway!
Hughes hubbard = also pays for PMBR and bar exam / bar admission fees
where's Finnegan Henderson?
Heller DOES offer a pro-rated bonus.
LOL at Kirkland: "Full bonus (based on August year-end)."
In other words, None.
can you gather info about what is offered to laterals - bar expenses, relocation, advances, etc.?
6:20 - Actually that seems to read that it is a prorated bonus...I don't know how you get none.
what about laterals?
6:25 - I get none because I GOT none. You start as a first year in September. Kirkland's year ends in August, so you didn't work during the year, and thus get no bonus when it's paid out in December.
6:25 - Interesting. But doesn't that mean that effectively you are still getting the benefits of a stub year bonus? If those few months are calculated into the first bonus figure then they are being accounted for, as opposed to firms that just start you in January earning hours towards bonus. Or does that effectively mean that your stub year sans bonus is the last few months before you exit the firm?
Kirkland first year associates who participate in PILI get 13 weeks of full-time pay (not 10 as listed above).
6:20, it is none at the bonus period in December but the difference is that the hours that you are billing in Oct, Nov, Dec will count into your first full year of bonus (instead of being just lost time at most shops that don't start the year until Jan 1).
Although I'm not sure what the $0 - $4k stipend is listed under bar expenses separate from the $10k you get to live on for the summer.
"the difference is that the hours that you are billing in Oct, Nov, Dec will count into your first full year of bonus (instead of being just lost time at most shops that don't start the year until Jan ."
As if that's a good thing. You get no bonus your first December. Then, the next December, you get a bonus for a year, just like everyone else. The difference being that you had to bust your ass from day 1, while your schoolmates at other firms took it easy for the first few months.
The Kirkland bonus period sucks, that's indisputable. It's beside the point, though. The real question is whether Kirkland gives a stub year bonus, and the answer is simply, no.
JD DC: get more summer money but no bonus
JD NY: market bonus but less summer money
When I was talking with Howrey during callbacks in the fall, they had mentioned a signing bonus equivalent to two-weeks salary. Is that factored into the $12k stipend?
any info on fenwick?
JD NY reimburses for bar expenses, and there is a $7,500 stipend. The stipend isn't for bar expenses
wow, anybody else notice that Irell seems to win this survey by a mile? $15K stipend + pro-rated bonus of $47.5K (higher even than the NY firms).
Info on Clausen Miller?
I guess finnegan henderson doesnt give anything?
Finnegan Henderson reimburses bar study and exam expenses and pays a summer stipend
Kaye Scholer LA does provide for all bar related expenses (Bar Bri, PMBR, and Bar Application and sitting fees), provides a $5K advance during the summer as well. No signing bonus sadly.