The new Troutman Pepper Locke, or 'Troutman,' will pay market salaries for the first two years, followed by a two-tier compensation structure for senior associates.
Troutman Pepper's merger with Locke Lord is positioned to create one of the Am Law 50 firms, boasting $1.570 billion in revenue with 1,600 attorneys.
Despite projections of becoming an Am Law top 30 firm, associates feel undervalued as they are offered compensation akin to an Am Law 200 firm.
With higher demand across practice areas and rising productivity, associates may look to lateral opportunities, which may be an intended outcome of Troutman’s merger.
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