O’Melveny & Myers, a law firm that grossed over $1 billion last year and ranks 50th on the AmLaw 100 list, announced significant raises and bonuses for their associates and counsel. The announcement, quaintly made via voicemail by partner Marc Pensabene, revealed a generous raise in the compensation scale across all levels at the firm
The new compensation scale at OMM is as follows:
- 1st Year Associates: $225,000
- 2nd Year Associates: $235,000
- 3rd Year Associates: $260,000
- 4th Year Associates: $310,000
- 5th Year Associates: $365,000
- 1st Year Counsel: $390,000
- 2nd Year Counsel: $420,000
- 3rd Year Counsel: $435,000
Bonuses also saw a significant rise with the firm matching the prevailing rates:
- Class of 2022: $20,000
- Class of 2021: $30,000
- Class of 2020: $57,500
- Class of 2019: $75,000
- Class of 2018: $90,000
- Class of 2017: $105,000
- Class of 2016 and beyond: $115,000
News of these compensation raises certainly create a reason to celebrate for attorneys at OMM. Attentiveness to updates regarding such increases in bonuses is critical for staying abreast of business developments.
To stay up-to-date with such essential bonus updates and salary announcements, Above the Law offers Bonus Alerts via email which also cover important salary announcements.
For the original post, please click here.