Two more California firms have increased first-year salaries to $160,000. O’Melveny & Myers and Morrison & Foerster are the latest to bump up pay, following Orrick, Herrington & Sutcliffe, who made the increase last week. For these two firms with large California associate populations, the pay raise will be costly. However, firm leaders emphasize that it comes as a result of the need to stay with the market, and to show clients that they provide the best service and the best talent.
Source: www.law.com