The New York firms fired the first shot at the tail end of January, hiking starting rates to $160K. Most California firms held the line in-state at $145K … until Orrick made its surprise move in May. Follow every twist of the saga in our Hot Topic roundup.
She acknowledged that there is a risk in associates getting paid differently, but said the system allows associates to choose their own path, and allows the firm to maintain numerous full-service practices.
“If you don’t want to be a super-biller you don’t have to be, and if you do, you’ll be compensated comparable to an international megafirm,” said Keller, an employment attorney. “For me, I would, in a heartbeat, take a lower salary as an employment attorney than as an IP attorney.”
That way, Keller said, she can keep the lower rates that go with employment work, and build a book of business. She said her counterparts at megafirms would be charging around $450 an hour, making it difficult for them to find new clients willing to pay that rate.
“There will always be people who disagree, but I think this allows for the continued development of business and provides associates not only the ability to attract clients but also it allows us to participate in a wider variety of legal practices,” she said. “Obviously there are some associates who just want the money, and perhaps this isn’t the firm for them.”
