ROPES & GRAY — MEMORANDUM — ASSOCIATE SALARIES; LOAN REFINANCING PROGRAM; TECHNOLOGY STIPEND
We are pleased to announce that base salaries for our partnership-track US associates, including summer associates, will be adjusted effective July 1, 2016 in line with recent market changes. Our career attorneys and other associates and counsel are compensated in accordance with their respective markets, so their compensation is different, and will be communicated to them separately.
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We also are pleased to tell you about two new programs that we formed in part in response to feedback from you, one to help you deal with student loans and the other to support greater flexibility in your work schedule. Both are outlined below.
Refinancing your student debt at lower rates
Ropes & Gray has partnered with Citizens Bank to offer refinancing loans, which can benefit approved applicants in the following ways:
Lower interest rates
Lower monthly payments
Potential to pay off loans faster by paying less in interest and more toward the principal balance
Ability to lock in a fixed-rate loan to replace variable-rate loans.
The Citizens Bank Education Refinance Loan has no fees for application, origination, or disbursement. In addition, approved borrowers will receive a $500 reduction to their principal balance at the time of first payment if they apply through the dedicated Ropes & Gray website. For more information and to apply for the Citizens Bank Education Refinance Loan, click here. You can also find a link on the Benefits page on the infoNet (click here). Please see the attached flyer for more information about eligibility and other aspects of the loans.
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Your at-home technology
In response to feedback from you, we are changing the at-home technology program as follows.
For the remainder of this year, our current at-home technology package (consisting of a docking station, monitor and optional FlexPhone (previously known as the “Always-On” phone) will be offered to all associates and counsel, regardless of year.
Starting in 2017, all associates and counsel will be eligible to receive up to $500 every three years, to reimburse them for the cost of the technology of their choice for home use. This could be used for a monitor and docking station like the ones we currently offer, but could also be used for items like a printer, keyboard, mouse, tablet or speakers. Associates and counsel may continue to receive a FlexPhone on request for as long as they want, and its cost will not count toward the $500 allowance.
Details about the program’s administration, including how to receive reimbursement, will be circulated toward the end of the year.
On behalf of the entire partnership, we want to thank all of you for your hard work and dedication. It is a privilege to work with such an extraordinary group of professionals.
R. Bradford Malt
David C. Chapin
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