Weil, Gotshal & Manges has announced it is deferring its incoming associates’ start dates to January 2010, and is asking new hires to voluntarily wait until 2011. Weil is also cutting its summer program from 12 weeks to 10 weeks.
Associates deferred to 2010 will be cut a $15,000 check.
Those who accept a deferment to January, 2011 will get another $75,000, in addition to the immediate $15,000 — if they spend the time at a firm-approved public interest organization.
Associate who choose not to work will get $60,000, on top of the $15,000.
Weil, Gotshal & Manges is an international law firm headquartered in New York City. It is one of the largest and most highly regarded law firms in the world, with approximately 1,300 lawyers and gross annual revenue in excess of $1.7 billion.
