Will Yolanda Vega be drawing the numbers?
In June, Cravath told its incoming 2010 class that it would actually be its 2011 class; it wasn’t an option, and they would get $65,000 plus health insurance for their non-working troubles.
But it looks like some 2010 associates will be starting this fall after all. Multiple tipsters told Above The Law that Cravath is emailing 3Ls to say that some members of their class will be able to start at the originally-planned time.
Who will start win will reportedly be chosen by a pretty random (in many senses of the word) method: a lottery system. People who already have secured alternate employment for the year will not be in the lottery; those who have accepted federal clerkships will also be ineligible, Above The Law said.
We’ve reached out to Cravath to try and confirm whether this is true or not, and get more details.
As Elie Mystal points out, Jones Day came down fairly hard yesterday on firms that do not accurately predict what its workload will be. Of course, seeing as how most of the world failed to predict the economic crisis, it’s not all that surprising firms did not either, so Jones Day’s words might be a little harsh.
But, either way, it sounds like some of those stellar 3L’s that got offers at Cravath will not be spending a year at the pool or the pub after all.
Business Insider Emails & Alerts
Site highlights each day to your inbox.