Associate Bonus Watch: Orrick Opens Up The Coffers

ORRICK HERRINGTON & SUTCLIFFE

From: Handley, Siobhan A.
Sent: Thursday, January 08, 2015
To: US ASSOCIATES
Cc: Zuklie, Mitchell; Torpey, Michael D.; Saklad, Laura; Goldstein, Jolie; Bortner, Carolyn Older
Subject: US Associate Bonuses — Update

To: All US Associates:

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By The MyCase Team

I want to update you on the US associate bonus program and our timing for communicating individualized bonus decisions. As you know, our approach to bonuses balances multiple objectives: market competitiveness, rewarding overall contribution (including quality of work, hard work, and contribution to the firm and your practice), recognizing pro bono contributions, incentivizing daily time entry, and giving our top performers the ability to earn over market. As in prior years, you have the best chance of receiving a market bonus with 1950 client representation hours and a PDC review of Very Good or Excellent.

As I know you are aware, there has been significant movement in the bonus market in the US this year. As Mitch will share with you in more detail, we just completed a tremendous year for the firm as measured by both client results and advancing our strategic objectives, including achieving financial results that enable us to reinvest in our people and our firm. Our Leadership Team believes strongly that our associates contributed to those results and should share in our success. Therefore, we are very pleased to confirm that we will use as “market” the scale that has come to be known as the Davis Polk scale in determining our individualized bonus awards in NY, DC, SF, SV, LA and OC this year. Consistent with our traditional approach, the market scale in SC, PO and SE offices will be slightly lower, reflecting costs of living and pay practices in those locations.

The PDC is currently finalizing performance evaluations and bonus determinations in close collaboration with your Practice Group Leader(s) and other partners in your group. Performance evaluations and bonus decisions will be communicated to you between February 4 -13. Bonuses will be paid on February 27 along with salary increases, if applicable, retroactive to January 1. As in past years, when the bonus process is complete we will share more specific results of our 2014 bonus program and the distribution of bonus amounts by associate level. The PDC puts a real effort into ensuring that each of you receives meaningful and constructive feedback to help you advance and achieve your career objectives. If you have questions about the feedback you receive, please do not hesitate to reach out to me to discuss it.

Thank you all for your hard work and outstanding contributions in 2014.