A method of manufacturing a two-piece counterweight for a scroll compressor is provided. The method includes molding an outer plate, and molding a base having a first opening configured to receive a scroll compressor drive shaft having a longitudinal axis. The method further includes configuring the base for assembly and attachment to the drive shaft. The method also includes attaching the outer plate to the base such that the outer plate is axially offset from the base. In a particular embodiment of this method, the base and outer plate are molded from powdered metal. In certain embodiments, the base and outer plate include one or more openings aligned to permit attachment by inserting a mechanical fastener through the aligned openings. In alternate embodiments, the base and outer plate are attached via brazing or welding.