Top Biglaw Firm Offers Signing Bonuses To Summer Associates
Wow! In 2017, a move like this is revolutionary.
Have you ever heard of a summer associate receiving a signing bonus for accepting an offer? What about a first-year summer associate receiving a signing bonus for accepting an offer to return to the firm? After a brief discussion between all of the editors here at the Above the Law office, we couldn’t recall offhand the last time a Biglaw firm had engaged in this practice — but that all ends today.
Which Biglaw firm would be so bold as to do something that could very well be considered revolutionary for summer associates in 2017?
We’ve received reliable intel that Andrews Kurth has offered a $3,500 bonus to their outgoing 1L summer associates if they accept their offers to return to the firm for their 2L summers within two weeks. Here’s the way the firm framed the offer that rising second-year law students would be foolish to refuse:
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Should you accept the return clerkship offer by Wednesday, August 16, 2017 you will receive a one-time $3,500 bonus. The bonus will be paid in two installments of $1,750.00; the first installment being paid upon acceptance and the second installment will be paid on your first day of the 2018 Summer Clerkship. If you choose not to take advantage of the early acceptance option, we follow the standard NALP guidelines regarding the deadline for acceptance of a return summer offer.
Andrews Kurth, which adopted the $180K Cravath pay scale last summer, is really spreading the wealth, because these signing bonus offers were made on a firmwide basis. According to one of our sources, the firm has understandably received a “great reception” from the 1Ls. Congratulations!
We’ve reached out to Andrews Kurth for comment on this progressive move. If and when we hear from them, we will be sure to update this story.
Have any other Biglaw firms offered signing bonuses to their summer associates upon acceptance of their offices? Please email us (subject line: “[Firm Name] Summer Associate Signing Bonuses”), or text us (646-820-8477) if you know of any other firm that deserves recognition for doing this in recent years.
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Staci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.
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