Deferral Stipend, Start Dates

Nationwide Start Date Watch: MoFo Comes Up With an Interesting Package

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At the beginning of April, incoming first years started worrying about the fact that Morrison & Foerster hadn’t announced start dates. At the time, the firm said that they would let people know by May 11th. We counseled:

Just because the firm is waiting until May, it doesn’t mean you have to. Try to secure a public interest job now and you’ll be protected if MoFo decides to defer your start date for a year.

If you took our advice, you’ll be very happy now. MoFo is delaying start dates. The firm will be paying a $5,000/month stipend to people who have been delayed until April 2010, as well as up to $500/month for health care costs.

But, there is also a special bonus available for people who want to defer for more than a year and are able to secure a public service internship:

You have the option of deferring your start date to January 4, 2011, subject to acceleration to a mutually agreeable earlier date as need arises. Your stipend would continue until you join the firm, which would be no later than January 4, 2011. Those who defer their start date and who work full time without compensation at least 10 months during that period for an approved 501(c)(3) non-profit will receive an additional $15,000 when they join the firm.

The stipend only starts in November of 2009. If you take full advantage of the package and the bonus, you’ll gross $85,000 from MoFo between November 2009 and January 2011. That’s not bad.

The full year (plus) deferral is optional, and the firm is still accepting some incoming associates in November 2009. Just not all of them. We understand that about 40 people are required to start in April 2010 or later.

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But, if a person already looked for and received a public interest job, holding off until January 2011 seems like the better bet.

Just make a decision quickly. Even though the firm took its time in making this announcement, MoFo still wants an answer from incoming associates in a week. The 40 people have until May 11th to decide which start date they want.

Hopefully, MoFo’s delayed decision about its deferral program didn’t catch people by surprise.

Read the full memo after the jump.


MORRISON & FOERSTER — MEMO — DELAYED START DATES

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You may recall from my e-mail to you in January, November 2, 2009 has been set as the earliest start date for summer associates who received offers to join the firm following the 2008 Summer Program. I regret that we cannot extend the offer to start at that time to everyone from our 2008 Summer Program.

We would like you to start on April 5, 2010, subject to possible acceleration to a mutually agreeable earlier date as need arises. We recognize that this deferral may be disappointing, but we are committed to providing you the best training and development opportunities and we want you to join the firm at a time when you can be fully engaged in the practice.

You will receive a monthly stipend of $5,000, as well as reimbursement of up to $500 per month for health insurance premiums, from November, 2009 until you join the firm.

You have the option of deferring your start date to January 4, 2011, subject to acceleration to a mutually agreeable earlier date as need arises. Your stipend would continue until you join the firm, which would be no later than January 4, 2011. Those who defer their start date and who work full time without compensation at least 10 months during that period for an approved 501(c)(3) non-profit will receive an additional $15,000 when they join the firm.

Those starting with us on November 2, 2009 or April 5, 2010 will join the firm as a member of the salary class of 2009; those starting on January 4, 2011 will join the firm as a member of the salary class of 2010 (subject to any standard salary credit associated with advanced degrees).

We ask that you confirm with your recruiting manager no later than May 11 whether you would like to voluntarily defer your start date to January 4, 2011.

By May 15, we will reconfirm your start date.

We are looking forward to welcoming you to the firm next April, or later if you decide to defer your start date. If you have any questions about your start date, or other matters, please contact the recruiting department in your office.

Best regards,
Keith Wetmore
Earlier: Morrison & Foerster Is Paying the Bar Stipend, But We’re Still Waiting on Start Dates

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