We’ve confirmed the news that Akin Gump has raised in Texas. Here’s the message from Bruce McLean, the Akin Gump chairman:
We are pleased to announce that we will be increasing associate and counsel compensation effective August 1, 2007. For first and second years, compensation will increase to $160,000 and $170,000, respectively. For subsequent years, we intend to be competitive in the market. We are in the process of determining the contours of the compensation structure for our other associate classes consistent with our Firm culture and the evolving market.
We appreciate all that you do to make this a great Firm.