Wake Up Call: Big Firms Said Likely to Defer First-Years

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• With demand for corporate transaction work dramatically down, some “enlightened” Big Law firms will likely soon move to defer their first-year associates’ arrival, predicts Hugh Simon, a former senior partner at The Boston Consulting Group and chief operating officer at Ropes & Gray. If that happens, Simon argues, the new law school graduates should strongly consider the offer, which would likely include a stipend and health insurance. (American Lawyer)The stipends are likely to be a fraction of ...