By the time Frederick A. O. Schwarz Jr. retired from Cravath, Swain & Moore in 2002, he was financially set. He was already an author, he already had a distinguished track record in public service and philanthropy and, of course, he was the great-grandson of a toy magnate.
So when Fritz Schwarz — the name he greatly prefers — joined the nonprofit Brennan Center for Justice at New York University Law School, he seriously considered volunteering his services. He decided against it, and negotiated a salary, albeit one below what a starting lawyer makes.
He never got a raise, and last year, when the Brennan Center ran into a budget crunch, he gave up his pay. But in principle, if no longer in principal, he thinks the salary made sense. “An organization and a person are simply more committed to each other when the person is paid,” he said.
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