$80k for a year off…
Monday, April 13th, 2009Courtesy of the NYT:
For a sixth-year associate at a New York law firm, $80,000 isn’t exactly competitive pay. But for someone cruising around the world, doing good wherever she sees fit and, let’s face it, probably hitting a beach or two, the pay is excellent.
Only in a financial world turned upside down would an arrangement like this one make sense. Looking to cut costs like everyone else, but not prepared to lay off employees, Skadden has chosen instead to offer all of its associates — about 1,300 worldwide — the option of accepting a third of their base pay to not show up for work for a year. (So far, the partners have no equivalent arrangement.)
The company is helping associates find pro bono work, and is encouraging them to do so.
Um, wow. This is an excellent opportunity for Skadden’s associates to try and to learn new things. International pro bono work sounds fantastic.
I wonder how many others are taking the opportunity to explore new things that they previously put off? What about other industries or verticals? How many of us are taking advantage of the opportunities we have to push ourselves and grow?
Granted, not all of us will draw 1/3 of our base salary to travel the world and do pro bono. For those of us lucky enough to have the flexibility to pursue a less traditional path, embrace it.
