'And then I told him I'd file a motion to compel his a**....'
It’s important to think about — and not just think about, but save for — your retirement. This is especially true now that Social Security is looking less than alluring. (When I see that money taken out of my paycheck, I just kiss it goodbye, forever.)
When it comes to providing for associates and other employees, most large law firms take a fairly straightforward approach: they offer 401(k) accounts, but no matching employer contributions. One of the few Biglaw firms that provided a match, K&L Gates, stopped that policy back in 2007.
With respect to retirement provisions for partners, there’s more variation from firm to firm. Some shops provide for retired partners in very generous fashion. For example, retired partners at Wachtell Lipton can receive annual seven-figure payouts for many years after leaving the firm (although sources at my former firm tell me some of this money represents a return of capital to the retired partners, and as such will vary from partner to partner).
A million-dollar retirement benefit is no doubt very pleasing. But at other firms, aging partners are less content with their arrangements….
If you’re a gay employee and have a domestic partner who receives health benefits through your employer, you have to pay more in federal income tax — about $1,000 a year, on average. This is because federal law, thanks to the Defense of Marriage Act (DOMA), doesn’t recognize same-sex marriages. As a result, the feds treat employer-provided health benefits for domestic partners as a form of taxable income (if the partner is not considered a dependent).
(Note, however, that this could change. A federal judge in Boston recently struck down part of DOMA. Stay tuned to find out what happens on appeal.)
Earlier this month, we wrote about a perk that Google extends to its gay employees who find themselves in this situation. As reported by the New York Times, Google “essentially [covers] those costs, putting same-sex couples on an even footing with heterosexual employees whose spouses and families receive health benefits.” Google makes an extra payment to gay employees to make up for the increased tax burden — a perk that we dubbed “Google’s gay gross-up.”
We asked you, our readers, if any legal employers also offer this benefit. As it turns out, several do.
Find out which employers provide this perk — and vote in a poll on its fairness, which was hotly debated in the comments to our prior post — after the jump.
[Last] Thursday, Google [began] covering a cost that gay and lesbian employees must pay when their partners receive domestic partner health benefits, largely to compensate them for an extra tax that heterosexual married couples do not pay. The increase will be retroactive to the beginning of the year.
“It’s a fairly cutting edge thing to do,” said Todd A. Solomon, a partner in the employee benefits department of McDermott Will & Emery, a law firm in Chicago, and author of “Domestic Partner Benefits: An Employer’s Guide.”
Why do gay and lesbian employees pay more in taxes to begin with?
Welcome to the next in our series on the results of the 2010 ATL/Career Center Associate Satisfaction survey. We’ve used the survey results to revamp the Career Center, powered by Lateral Link, with completely updated profiles and each week, we are highlighting insider information that Members shared about their firms in the eight key areas of associate satisfaction covered by the Career Center. Today, what’s in it for you – Benefits.
This West Coast firm, specializing in representing high tech and life sciences clients, offers its associates the opportunity to participate in an investment partnership fund that invests in select clients.
This Midwestern firm, known for its work for Major League Baseball, lacks an on-site cafeteria or gym but makes up for it with "on-site massage and yoga classes."
This firm, known for its strong IP and technology practices, keeps its associates satisfied (calorie-wise) with bi-weekly attorney lunches, monthly "wine-and-cheese" hours, free soda, and "free pizza and beer every other Friday" in select offices.
Associates at this New York-based firm, well-known for its bankruptcy and restructuring, litigation and private equity practices, receive a $750 annual subsidy to cover gym membership fees.
More fun perks — perhaps your firm should adopt them? — after the jump.
In a move that can best be described as cheap, Latham & Watkins joins a growing list of firms that will not allow associates to accrue vacation time. Why would a firm deny its associates the opportunity to get paid out for unused vacation days when they leave the firm (voluntarily or involuntarily)? Because it saves them money, of course.
I suppose Latham could have put it this way: “We’ll no longer honor accrued vacation time because we don’t want to be on the hook for extra paychecks after we s***can you.” But where’s the fun in that? Instead Latham tried to sell associates on the idea that its change in vacation policy would allow associates to take unlimited vacation days.
Latham associates weren’t fooled by the memo. Check it out and see if you would have fallen under the spell of spin …
Most Biglaw New York lawyers would die of malnutrition without SeamlessWeb. Malnutrition, people! Because nobody has time to run down 50 floors to grab a bite to eat after hours.
Given the recession, charging 6:30 steak dinners to clients is no longer cool. But Schulte Roth & Zabel could be taking its anti-Seamless policy a bit too far. Here’s the email Schulte attorneys received last night:
The Firm cafeteria goes to great lengths to provide menu choices that reflect your preferences, and we are constantly looking for new ways to improve those offerings and keep the cafeteria operating as efficiently as possible. Attorneys and legal assistants working in the office on a client-related matter past 7:30 p.m. are encouraged to patronize Café 23, which is open for dinner Monday through Thursday evenings from 6:00 to 9:00 p.m. Beginning April 5th, 2010, you will not be able to place orders through SeamlessWeb until 8:30 p.m. on weekday evenings.
We recognize that this change will cause some of you to rethink your dining options and, to that end, we ask you to let us know what types of food you would like the cafeteria to provide at dinnertime and then give Café 23 a try. Please email your comments and suggestions to [Redacted], Director of Food Services. Thank you.
Screwing around with SeamlessWeb is one sure way to piss off everybody that works for you. And boy are Schulte associates pissed …
We previously reported on Ropes & Gray hoarding Tamiflu for its employees. Reaction was mixed. Some people applauded Ropes looking out for the health of their employees and their families; others feared that Ropes was unwittingly contributing to a drug-resistant strain of the H1N1 virus.
But there are many ways to prevent an outbreak of piggy pestilence at a law firm near you. One of the most, dare I say rational, measures is to make sure that people who are sick aren’t coming into work.
That’s what they are doing at Akerman Senterfitt. The Washington Post reports (gavel bang: ABA Journal) that the firm is allowing people with the sickness to take time off of work, without counting it against their allotted leave time:
When Great Falls resident Carolyn Cuppernull’s 10-year-old daughter came down with swine flu, she didn’t have to take time off work to stay home with her.
Cuppernull is senior marketing manager of the Washington office of the law firm Akerman Senterfitt. Under the group’s former policy, she would have had to use paid leave to stay home if she or a relative got sick. But the firm recently updated its rules to allow employees to stay home with full pay — without using leave time — for H1N1-related absences.
Now that’s a way to make sure your office doesn’t suffer a swine flu outbreak without potentially contributing to the mutation of a global super virus.
Of course, there is a downside.
The competition between NYU Law and Columbia Law is always fierce — even when it is a race to the penny-pinching bottom. Two weeks ago, we told you that Columbia is now charging students for plastic forks (though chopsticks remain free).
Not to be outdone, a disgruntled NYU Law tipster reports:
So I’m in my last year at NYU Law and just had a fairly shocking experience…. I went to the lounge to get a cup for water from the water fountain. I grabbed a cup and walked away, and the cashier yelled at me. I thought she thought I was stealing a cup of coffee, so I told her I just wanted water. She said “that’s 25 cents.” I said “no, I just want water.” She said “I know,that’ll be 25 cents. We have to pay for those cups.” The worst part? It was a cup from Starbucks with the “we proudly serve Starbucks coffee” logo on the side.
Indignation from our tipster, plus a clarification about Columbia cutlery, after the jump.
Tuition at Columbia Law School this year is $48,004 (which doesn’t include $1,638 for health insurance and a $95 “transcript fee”). The estimated living cost for an academic year is $21,263. Putting it all together, students are looking at more than $70,000 for a year of legal education, during the worst recession in the legal industry most people can remember.
You’d think all of that would at least buy you a plastic fork at lunchtime. But you’d be wrong. Tipsters report that Columbia is now charging $.15 for plasticware in the law school cafeteria.
I’ve been doing this job for over a year now, and in that time some pretty petty cutbacks have scrawled across my inbox. But this might be the most outrageous “reverse perk” of all.
Let’s take a stroll through some other recession cutbacks.
We are fighting two wars, the economy is in the toilet, and the assassinations of Biggie and Tupac remain unsolved, but our elected leaders have spent a lot of time concerning themselves with soda (a.k.a: pop). Literally, the President of the United States is concerned about this.
Here in New York, wealthy overlord mayor Michael Bloomberg has an entire ad campaign running against soda. It’s probably just a precursor to the soda tax that is often talked about.
As a meat-eating smoker who detests physical activity and enjoys it when cows are fed beer, I’m immune to the so-called “doctors” and their calls for basic health. To me, taxing soft drinks is a violation of the social compact.
But in Biglaw, the war against soda is on. Foley & Lardner has already taken up arms against soft drinks. And it looks like Quinn Emanuel will be next.
Details after the jump.
Hey, have you read Above the Law for like one single minute in the past month? If so, you probably know that we’re having this big blogger conference on March 14th at the Yale Club. Yeah, the Yale Club. You’ll be able to recognize me: I’ll be the only big… blogger guy surreptitiously holding a can of crimson spray-paint.
Speaking of coming, you should come. We’ve got CLE and all that. Click here to buy tickets to get CLE credit for listening to bloggers scream about stuff on the internet.
To refresh your memory, details on the panel that I’m moderating — almost entirely sober, mind you — follow.
My panel is called Blogs as Agents of Change, and we’re going to talk about whether all of these spilled pixels are actually making a difference. You know my view… just ask Lawrence Mitchell, but here are the panelists:
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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