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.