The bad economy has hit law firms hard as clients cut costs or go out of business. Many law firms have reacted to the economic crisis by firing associates and lowering salaries.
Yet, some law firms have responded to the economic crisis in a surprising way; by offering to pay their associates a portion of their annual salary to go work outside of the firm.
Some law firms specify that these attorneys work for non-profit companies, others such as my firm have no such restrictions. Programs such as these are allowing young, ambitious attorneys to use their law degrees in interesting ways that would otherwise be impractical because of educational loans and other expenses. Companies and organizations should keep an eye out for these attorneys who are ready to take on some risk and are eager to help!
For my part, I took the California Bar last July and went to work for a big, prestigious law firm. When the economic crisis hit, my firm provided associates with the option to take a year off, with 1/3 of our annual salary, plus loan payments and medical insurance payments for the year.
I’ve always wanted to work for a startup and also make a difference and decided to take the opportunity to work with 1BOG and Virgance.
While part of me misses the prestige and professionalism of being a high powered corporate attorney, I don’t regret replacing my office and hardwood desk with a spot at a table in a shared San Francisco office space. I’m excited to be working with Virgance and 1BOG and am getting the chance to use my legal skills in an exciting, innovative, and socially conscious business. I’m working with bright and energetic people who actually care about the world, and its fantastic.
By Ian McLean Attorney at Law
March 30th, 2010 at 1:00 PM
Your article is a breath of fresh air in comparison to the normal junk I learn on solar energy. So many scams on the market. Thank you for helping me out.