Finally some confirmation today about the worst-kept secret pervading Australian law-firm office space!
Corrs Chambers Westgarth are taking the unprecedented move of offering 2009 graduates a whopping $10,000 to defer their graduate employment. At this stage the cash offer has been limited to Brisbane and Sydney offices and has been created to stymie what the partnership has, as quoted in the Financial Review, termed a ‘temporary over-capacity’. The Firm Spy has, however, received several reports that it is more than the fleeting issue suggested by the partners and is, as one Corrs Firm Spy put it,
‘ a rampant finger-twiddling exercise where junior lawyers are openly questioning why they are travelling to work each day.’
FYI – today’s exchange rate with the Thai Baht is 23 THB. One Aussie dollar will buy you 23 BAHT!
The Firm Spy has crunched the numbers and come up with the following year-long deferment plan:
- Jetstar direct from Sydney to Phuket – March 5 2009 costs $311 (balance $9689);
- Rooms on Ko Panyang start from as little as 200baht per night (balance $6515);
- Thai buckets cost 200baht (one per night leaves a balance of $3314);
- Food each day would cost about 150baht (balance $793);
- Return flight on 1 March 2009 will probably be under $400 (those flights arent yet listed) (balance $393).
Deferring Corrs grads who live within their means can therefore look forward to an entire year of Thai holidaying and have enough money for their first week back at work!
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