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Most associates at Orrick, Herrington & Sutcliffe are receiving pay raises, according to a report from Legal Pad. While not a return to lockstep compensation, second-year associates will havetheir compensation bumped to $170,000 from $160,000 beginning in January, and third-years will have salaries increased $15,000 to $185,000.
The salaries of first-year associates will remain at $160,000 in top markets.
Legal Pad reports managing associates will earn between $210,000 and $250,000 next year and senior associates will earn up to $265,000 in base salary.
Orrick spokesman David Schaefer told the Web site the plan does have lockstep elements in the early years, but will begin to vary more at the “managing associate level.” That’s because the firm “doesn’t want to judge lawyers too early in their career development.”
Orrick, Herrington & Sutcliffe LLP is a global law firm with more than 1,100 lawyers in 22 offices in North America, Europe and Asia. The firm focuses on litigation, complex and novel finance and innovative corporate transactions.
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