Orrick Reveals New Associate Pay Structure
Posted Dec 03, 2009 11:53 pm CST
Orrick, Herrington & Sutcliffe revealed its new associate pay structure that will kick in in 2010.
Orrick announced in July that it would be abandoning lockstep.
According to a chart (PDF) Orrick provided to the ABA Journal, associates will be separated into three classes: associates, managing associates and senior associates.
The $160,000 starting salary will remain in place in its Los Angeles, New York, Orange County, San Francisco, Silcon Valley, and Washington, D.C., offices, while $145,000 will be the base salary in the Pacific Northwest and Sacramento.
“The firm isn’t using the move away from lockstep as an excuse to cut first-year pay,” Elie Mystal wrote at Above the Law.
The managing associate base salary is $185,000 in the larger markets and $170,000 in the smaller ones; the senior associate base salary is $235,000 in the larger markets and $215,000 in the smaller ones.
Orrick also plans to pay its associates what it determines to be the competitive market bonus for that year. Top associates in each tier can earn bonuses from 5 to 15 percent higher.