National Pay Raise Watch: Perkins Coie to $160k in California

onJune 21, 2007 at 3:53 PM

Perkins Coie is raising to market in California, with a catch. To get the raise, associates must 1) be “on pace” of 1900 hours; and 2) have “no outstanding timesheet penalties.”
The memo’s after the jump.

The firm highly values the talent and experience of our associates.
While we know that many factors contribute to associate job
satisfaction, we understand that responding to market increases in
associate compensation is important to our commitment to attract and
retain the most qualified associates. In response to recent changes in
the legal market, particularly in California, we are adjusting our
salary structure for partnership track associates in our California
offices. The updated base salary structure for our California offices
is below.
Associates with an annualized legal hours pace of 1,900 hours or more
and no outstanding timesheet penalties will receive a salary adjustment,
effective as of June 1, 2007. The June 30, 2007 payroll will include
retroactive pay to June 1. While the expected legal pace is 1,950
hours, we are implementing the mid-year increase at a slightly lower
pace to account for vacations and other variations in workflow.
Associates who are not eligible for an increase at this time but whose
annualized legal hours for October 1 – September 30 are 1,950 hours or
above will receive the increase as a bonus, in addition to any other
productivity award for which the associate may be eligible. Associates
receiving the mid-year adjustment who do not meet their required minimum
hours for the year may receive a lower lockstep increase in base
compensation in the following year.
An updated compensation memo detailing the compensation structure for
each office will be circulated in the coming weeks. In the interim,
please direct all questions to your respective office managing partner,
Erin Thakkar or Chris Moller.
2007 California Offices Salary Structure, Effective June 1, 2007
Comp Year Base Salary
2006 $160,000
2005 $170,000
2004 $185,000
2003 $210,000
2002 $230,000
2001 $250,000
2000 $265,000
>2000 CBC
— Bob Giles