netmeg - 8:12 pm on May 13, 2013 (gmt 0)
It could take months, and if the company says they won't pay without the nofollow stuff, fire the company. Because there's a very good chance that Google will eventually whack you both anyway. If you're an .edu or a site with very high trust and authority, it sounds like they're counting on those links to prop them up.
Unfortunately the days of the do-follow paid link are just plain over.
UNLESS you get your traffic from other sources and don't rely on Google. But then you have the problem that the other site gets penalized, and then they're probably not gonna want to pay you for those links anyway.