John Grisham: The firm

"As you know, we have a very special guest today, Mitch McDeere. He will soon graduate with honors from Harvard—"

"Hear! Hear!" said a couple of Harvard alumni.

"Yes, thank you. He and his wife, Abby, are staying at the Peabody this weekend as our guests. Mitch will finish in the top five out of three hundred and has been heavily recruited. We want him here, and I know you will speak to him before he leaves. Tonight he will have dinner with Lamar and Kay Quin, and then tomorrow night is the dinner at my place. You are all expected to attend." Mitch smiled awkwardly at the partners as Mr. Lambert rambled on about the greatness of . When he finished, they continued eating as Roosevelt served bread pudding and coffee.

Kay's favorite restaurant was a chic East Memphis hangout for the young affluent. A thousand ferns hung from everywhere and the jukebox played nothing but early sixties. The daiquiris were served in tall souvenir glasses.

"One is enough," Kay warned.

"I'm not much of a drinker."

They ordered the quiche of the day and sipped daiquiris.

"Does Mitch drink?"

"Very little. He's an athlete and very particular about his body. An occasional beer or glass of wine, nothing stronger. How about Lamar?"

"About the same. He really discovered beer in law school, but he has trouble with his weight. frowns on drinking."

"That's admirable, but why is it their business?"

"Because alcohol and lawyers go together like blood and vampires. Most lawyers drink like fish, and the profession is plagued with alcoholism. I think it starts in law school. At Vanderbilt, someone was always tapping a keg of beer. Probably the same at Harvard. The job has a lot of pressure, and that usually means a lot of booze. These guys aren't a bunch of teetotalers, mind you, but they keep it under control. A healthy lawyer is a productive lawyer. Again, profits."

"I guess that makes sense. Mitch says there's no turnover."

"It's rather permanent. I can't recall anyone leaving in the seven years we've been here. The money's great and they're careful about whom they hire. They don't want anyone with family money."

"I'm not sure I follow."

"They won't hire a lawyer with other sources of income. They want them young and hungry. It's a question of loyalty. If all your money comes from one source, then you tend to be very loyal to that source. demands extreme loyalty. Lamar says there's never talk of leaving. They're all happy, and either rich or getting that way. And if one wanted to leave, he couldn't find as much money with another firm. They'll offer Mitch whatever it takes to get you down here. They take great pride in paying more."

"Why no female lawyers?"

"They tried it once. She was a real bitch and kept the place in an uproar. Most women lawyers walk around with chips on their shoulders looking for fights. They're hard to deal with. Lamar says they're afraid to hire one because they couldn't fire her if she didn't work out, with affirmative action and all."

The quiche arrived and they declined another round of daiquiris. Hundreds of young professionals crowded under the clouds of ferns, and the restaurant grew festive. Smokey Robinson sang softly from the jukebox.

"I've got a great idea," Kay said. "I know a realtor. Let's call her and go look at some houses."

"What kind of houses?"

"For you and Mitch. For the newest associate at Bendini, Lambert & Locke. She can show you several in your price range."

"I don't know our price range."

"I'd say a hundred to a hundred and fifty thousand. The last associate bought in Oakgrove, and I'm sure he paid something like that."

Abby leaned forward and almost whispered, "How much would the monthly payments be?"

"I don't know. But you'll be able to afford it. Around a thousand a month, maybe a little more."

Abby stared at her and swallowed hard. The small apartments in Manhattan were renting for twice that. "Let's give her a call."

As expected, Royce McKnight's office was a power one with a great view. It was in one of the prized corners on the fourth floor, down the hall from Nathan Locke. Lamar excused himself, and the managing partner asked Mitch to have a seat at a small conference table next to the sofa. A secretary was sent for coffee.

McKnight asked him about his visit so far, and Mitch said he was quite impressed.

"Mitch, I want to nail down the specifics of our offer."

"Certainly."

"The base salary is eighty thousand for the first year. When you pass the bar exam you receive a five-thousand-dollar raise. Not a bonus, but a raise. The exam is given sometime in August and you'll spend most of your summer reviewing for it. We have our own bar study courses and you'll receive extensive tutoring from some of the partners. This is done primarily on firm time. As you know, most firms put you to work and expect you to study 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. 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, 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 ."

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. 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."