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Dechert Law Firm Offers Unique Opportunity for Summer Associates to Pursue Nonprofit Work

published August 08, 2023

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( 4 votes, average: 3.9 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.
Dechert Law Firm Offers Unique Opportunity for Summer Associates to Pursue Nonprofit Work

Law firm Dechert has unveiled a groundbreaking initiative, allowing some of its summer associates, who are expected to join the firm as associates in the fall of 2024, to postpone their start date by a year. As part of this program, the firm generously offers a $75,000 stipend to those who choose to work for a nonprofit organization during the interim period.
 

"We believe in providing our summer associates with options that go beyond the traditional career trajectory," stated a spokesperson for the Philadelphia-based firm. "While all summer associates can join in the fall of 2024, we have created an opportunity for up to 20 of them to defer their start date to fall 2025. During this time, they are encouraged to explore, study, travel, or pursue alternative opportunities."
 
For those who dedicate their year to working for a pro bono or not-for-profit organization through Dechert, the firm provides the additional incentive of a $75,000 stipend and benefits.
 
This initiative comes as Dechert aims to accommodate its summer associates' diverse aspirations and passions. With 85 people in the current summer class, the firm is leading the way by offering this unique deferral plan that affects next year's incoming associates.
 
Although Dechert is among the first large law firms to implement such a deferral plan, others have taken similar steps due to the evolving landscape of the legal industry. Cooling demand for legal services has prompted law firms to reevaluate their associate salaries, which can be a significant expense. Many large firms have traditionally offered first-year lawyers salaries of $215,000 or more.
 
In June, Cooley announced its plan to offer incoming corporate associates the choice of delaying their start dates by a year with a $100,000 stipend. Alternatively, they can begin in January but may be assigned to a different practice group.
 
Additionally, several other firms have recently postponed the start date for some of this year's new associates by a few months. For instance, Katten Muchin Rosenman plans to defer the start date for a portion of its incoming class of associates to February 1. Meanwhile, Orrick Herrington & Sutcliffe, Fenwick & West, and Perkins Coie have also rescheduled start dates for at least some incoming lawyers to January.
 
Notably, the legal industry has recently experienced challenges, prompting some firms to undertake layoffs affecting lawyers and professional staff members. Dechert cut approximately 5% of its global workforce in May, including 55 lawyers and 43 business professionals.
 
Amid these evolving circumstances, Dechert's deferral plan stands out as an innovative and supportive approach, providing summer associates the freedom to pursue their passions while also offering an opportunity to contribute meaningfully to nonprofit organizations. Dechert is demonstrating its commitment to fostering a diverse and fulfilling legal community by taking this forward-thinking approach.

published August 08, 2023

( 4 votes, average: 3.9 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.