February 3, 2010 12:44 PM
Cravath Welcomes Back Some Deferred Associates
Posted by Claire Zillman
Cravath, Swaine & Moore has reversed its decision to defer associates until 2011. The firm will welcome some of those associates to the firm come fall, a year earlier than previously planned, according to this news report in the New York Law Journal, a sibling publication.
In June the New York-based firm announced that it would delay the start dates of 120 incoming associates--those working as summer associates at that time--until 2011. The firm had planned to pay $65,000 stipends to those deferred associates.
The change of plan comes at a time when the legal sector has seen signs of economic improvement, writes the NYLJ's Nate Raymond.
The firm has not said precisely how many of the deferred associates will be starting in the fall. Rowan Wilson, the firm's hiring partner, told the NYLJ that if too many students request the earlier start date, the firm will conduct a lottery, "to make sure none of them reads anything into whether they were selected because they're perceived to be better."
Click here to read the full news brief from the NYLJ.