Akin Gump, Biglaw, Money, Skaddenfreude

Skaddenfreude: The Akin Gump Memo

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Sorry for the technical difficulties. Happily, we’re now back online.
Akin Gump has announced its compensation scheme for New York and Washington offices (and perhaps others; these are the ones we’ve confirmed).
Pay scales for Akin Gump, after the jump.


In New York, this email went around last night:

From: McLean, Bruce
Sent: Monday, January 29, 2007 6:40 PM
To: NY Associates; NY Counsel
Cc: NY Partners
Subject: Compensation

As we complete our review of 2006, I want each of you to know how proud I am of everything our associates and counsel accomplished. The excellence of your work for all of our clients on matters large and small were evident throughout the year. Your diligence and hard work was certainly appreciated. Thank you for your commitment to the firm and its clients.We will be distributing bonuses for 2006 on Wednesday. I am also pleased to announce that Akin Gump will increase the base pay of its associates and counsel in the New York office. Our starting salary will increase from $145,000 to $160,000. A revised grid for 2007 associate and counsel salaries is attached. This increase is retroactive to January 1, 2007 and will be reflected in the firm’s February 15, 2007 payroll.

We look forward to continued success in the year ahead.
Bruce

Attached, as an Excel document, was a grid containing these numbers:
Class of 2006: $160,000
Class of 2005: $170,000
Class of 2004: $185,000
Class of 2003: $210,000
Class of 2002: $230,000
Class of 2001: $240,000 (associates); $250,000 (counsel)
Class of 2000: $250,000 (associates); $265,000 (counsel)
Class of 1999: $255,000 (associates); $280,000 (counsel)
An explanatory note from our tipster: “For purpose of following the grid, partnership track associates from classes of 2001, 2000, and 1999 are [referred to as] ‘Counsel.'”
We have also verified these numbers for Akin Gump in Washington, DC:
Class of 2006: $145,000
Class of 2005: $155,000
Class of 2004: $170,000
Class of 2003: $190,000
Class of 2002: $210,000
Class of 2001: $220,000

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