As reported on AboveTheLaw.com today, Willkie Farr has deferred it’s class from fall 2010 to January 2011. Deferrals are pretty common these days, but what makes Willkie’s actions stand out is that they assured their newbies as recently as January or February that they would be starting on time. Now you can find this information on Wikipedia!
This really sucks for people who have already signed leases and made other moving arrangements expecting to have a paycheck coming in this Fall. Willkie is offered no stipend, but is allowing associates to take a $20,000 salary advance, to be paid back over the first year of work. $20k might sound like a lot for a big lump payment, but it has to cover associates living in New York City for 6 months. The associates are going to be stuck with security deposits, broker fees, moving expenses, probably some furniture costs (especially if moving from a furnished dorm), and the price of building a professional wardrobe.
List of Wiki Raids:
Fish & Richardson