on your own time. Not us. No associate of this firm has ever flunked the bar exam, and we're not worried about you breaking with tradition. Eighty thousand initially, up to eighty-five in six months. Once you've been here a year, you'll be raised to ninety thousand, plus you'll get a bonus each December based on the profits and performance during the prior twelve months. Last year the average bonus for associates was nine thousand. As you know, profit sharing with associates is extremely rare for law firms. Any questions about the salary?'
'What happens after the second year?'
'Your base salary is raised about ten percent a year until you become a partner. Neither the raises nor the bonuses are guaranteed. They are based on performance.'
'Fair enough.'
'As you know, it is very important to us that you buy a home. It adds stability and prestige and we're very concerned about these things, especially with our associates. provides a low-interest mortgage loan, thirty years, fixed rate, nonassumable should you decide to sell in a few years. It's a one-shot deal, available only for your first home. After that you're on your own.'
'What kind of rate?'
'As low as possible without running afoul with the IRS {Internal Revenue Service – Внутренняя налоговая служба США}. Current market rate is around ten, ten and a half. We should be able to get you a rate of seven to eight percent. We represent some banks, and they assist us. With this salary, you'll have no trouble qualifying. In fact, The Firm will sign on as a guarantor if necessary.'
'That's very generous, Mr. McKnight.'
'It's important to us. And we don't lose any money on the deal. Once you find a house, our real estate section handles everything. All you have to do is move in.'
'What about the BMW?'
Mr. McKnight chuckled. 'We started that about ten years ago and it's proved to be quite an inducement. It's very simple. You pick out a BMW, one of the smaller ones, we lease it for three years and give you the keys. We pay for tags, insurance, maintenance. At the end of three years you can buy it from the leasing company for the fair market value. It's also a one-shot deal.'
'That's very tempting.'
'We know.'
Mr. McKnight looked at his legal pad. 'We provide complete medical and dental coverage for the entire family. Pregnancies, checkups, braces, everything. Paid entirely by The Firm.'
Mitch nodded, but was not impressed. This was standard.
'We have a retirement plan second to none. For every dollar you invest, matches it with two, provided, however, you invest at least ten percent of your base pay. Let's say you start at eighty, and the first year you set aside eight thousand. The Firm kicks in sixteen, so you've got twenty-four after the first year. A money pro in New York handles it and last year our retirement earned nineteen percent. Not bad. Invest for twenty years and you're a millionaire at forty-five, just off retirement. One stipulation: If you bail out before twenty years, you lose everything but the money you put in, with no income earned on that money.'
'Sounds rather harsh.'
'No, actually it's rather generous. Find me another firm or company matching two to one. There are none, to my knowledge. It's our way of taking care of ourselves. Many of our partners retire at fifty, some at forty-five. We have no mandatory retirement, and some work into their sixties and seventies. To each his own. Our goal is simply to ensure a generous pension and make early retirement an option.'
'How many retired partners do you have?'
'Twenty or so. You'll see them around here from time to time. They like to come in and have lunch and a few keep office space. Did Lamar cover vacations?'
'Yes.'
'Good. Book early, especially for Vail and the Caymans. You buy the air fare, but the condos are free. We do a lot of business in the Caymans and from time to time we'll send you down for two or three days and write the whole thing off. Those trips are not counted as vacation, and you'll get one every year or so. We work hard, Mitch, and we recognize the value of leisure.'
Mitch nodded his approval and dreamed of lying on a sun-drenched beach in the Caribbean, sipping on a pina colada and watching string bikinis.
'Did Lamar mention the signing bonus?'
'No, but it sounds interesting.'
'If you join our firm we hand you a check for five thousand. We prefer that you spend the bulk of it on a new wardrobe. After seven years of jeans and flannel shirts, your inventory of suits is probably low, and we realize it. Appearance is very important to us. We expect our attorneys to dress sharp and conservative. There's no dress code, but you'll get the picture.'
Did he say five thousand dollars? For clothes? Mitch currently owned two suits, and he was wearing one of them. He kept a straight face and did not smile.
'Any questions?'
'Yes. The large firms are infamous for being sweatshops where the associates are flooded with tedious research and locked away in some library for the first three years. I want no part of that. I don't mind doing my share of research and I realize I will be the low man on the pole. But I don't want to research and write briefs for the entire firm. I'd like to work with real clients and their real problems.'
Mr. McKnight listened intently and waited with his rehearsed answer. 'I understand, Mitch. You're right, it is a real problem in the big firms. But not here. For the first three months you'll do little but study for the bar exam. When that's over, you begin practicing law. You'll be assigned to a partner, and his clients will become your clients. You'll do most of his research and, of course, your own, and occasionally you'll be asked to assist someone else with the preparation of a briefer some research. We want you happy. We take pride in our zero turnover rate, and we go the extra mile to keep careers on track. If you can't get along with your partner, we'll find another one. If you discover you don't like tax, we'll let you try securities or banking. It's your decision. The Firm will soon invest a lot of money in Mitch McDeere, and we want him to be productive.'
Mitch sipped his coffee and searched for another question. Mr. McKnight glanced at his checklist.
'We pay all moving expenses to Memphis.'
'That won't be much. Just a small rental truck.'
'Anything else, Mitch?'
'No, sir. I can't think of anything.'
The checklist was folded and placed in the file. The partner rested both elbows on the table and leaned forward. 'Mitch, we're not pushing, but we need an answer as soon as possible. If you go elsewhere, we must then continue to interview. It's a lengthy process, and we'd like our new man to start by July 1.'
'Ten days soon enough?'
'That's fine. Say by March 30?'
'Sure, but I'll contact you before then.' Mitch excused himself, and found Lamar waiting in the hall outside McKnight's office. They agreed on seven for dinner.
Chapter 3
