find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Corporate Lawyer (3-5 years PQE)
Category: Corporate and Commercial Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· National firm acting for domestic and multinational clients
View details
Lawyer – CTP Insurance (2-3 years)
Category: Insurance and Superannuation Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Well-regarded team offering mentoring and career development
View details
$80,000 for year off at Skadden

$80,000 for year off at Skadden

A string of lawyers at US firm Skadden, Arps, Slate, Meagher & Flom have been handed an average $80,000 to have a year off.

IT may be a disastrous year for the global economy, but for a string of lawyers at US firm Skadden, Arps, Slate, Meagher & Flom, who have been handed an average US$80,000 ($110,000) to have a year off, it’s shaping up to be a good one. 


Looking to cut costs while avoiding slashing staff numbers, Skadden has chosen to offer all associates, about 1,300 worldwide, the option of a taking a third of their base pay to not show up for work for a year. 


The partners and juniors have no equivalent arrangement, but The New York Times reports about 125 associates had so far expressed interest. 


“I think it’s fair to say that the number are in excess of our expectations,” said Matthew Mallow, a partner at the firm. 


The lawyers are assured that their time away from work at the firm won’t affect their careers, and if there are layoffs while they are away, the lawyers are immune from them. That fact alone is expected to attract many associates to the scheme. 


Skadden says a majority of the 125 associates are looking for worthwhile legal work, in order to keep them as competitive as possible. Others are taking time off to spend with children or travelling. The firm is helping associates find pro bono work, and is encouraging them to do so. 




Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

$80,000 for year off at Skadden
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...