{ "media_type": "text", "post_content": "When do you switch from first-year to second-year at your firm in terms of salary - at the end of the firm’s fiscal year or January 1? For context, my firm’s fiscal year ends in November and the annual billing requirements restart then.", "post_id": "60fc31ddc60a2700296a8520", "reply_count": 4, "vote_count": 1, "bowl_id": "5df70ed2f7169f002b172d3f", "bowl_name": "Big Law" }

When do you switch from first-year to second-year at your firm in terms of salary - at the end of the firm’s fiscal year or January 1? For context, my firm’s fiscal year ends in November and the annual billing requirements restart then.

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You rise up in class year when the new first years start. But your raise and rate increase is Jan 1. Previous firm, raise was Jan 1, rate increase was June 30.

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Our switch from first year to second year and so on is always in October when the new class starts. It’s not driven by salary at all. Raises are always July 1 so they’re wholly separate things. However, because our year change was in October, the rate change (in terms of what the firm charges clients per hour) was always on January 1

And our billing requirements always reset every calendar year. So October-December of our first year was irrelevant. Then January-December of our full first year was when our billing requirement actually mattered

Our first years join in Sept but switch in Jan (they’re called NQs until then). I’m speaking from the London office of a US law firm though so it may be different in the states.

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