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San Francisco’s Orrick, which laid off 300 employees in March, is abandoning lock-step compensation for associates.
Under a lock-step scheme, associate salaries are determined entirely by how long the associate has been with the firm.
Orrick’s new compensation model places associates on the partner track into one of three levels: Associate, Managing Associate, and Senior Associate. Compensation will be based on level, and clear guidelines for moving up through the levels will be provided.
Associates not on the track to partner will be on a personalized program called the Custom Track.
The firm is also expanding its associate training, mentoring, and feedback systems.
San Francisco, California-based Orrick Herrington & Sutcliffe was founded in 1863, and has over 1,100 lawyers worldwide in 21 offices. The firm’s day-to-day administrative operations are centralized at a Global Operations Center in Wheeling, West Virginia.
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