Orrick Abandons Lock-step Compensation for Associates

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.

• More Firms Adopting Merit-Based Pay for Associates
• Raises (sort of) and Bonuses at Pillsbury
• Hughes Hubbard Thaws Salaries, Issues Bonuses
• Orrick Moves Away From Lockstep
• Fish & Richardson Will NOT Cut Associate Pay

Posted by Erik Even on July 1, 2009. Filed under Home,Law Firm News,Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry