K&L Gates

Nationwide Pay Raise Watch: Akin Gump Raises (Plus Some Hughes & Luce News)

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ten gallon hat cash money Abovethelaw Above the Law blog.jpgWe’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.

In other Biglaw Texas news, Hughes & Luce is in merger talks with K&L Gates.
Hughes & Luce in Merger Talks With K&L Gates [Texas Lawyer]

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Skaddenfreude: Arent Fox; K&L Gates; Heller Ehrman; Keker & Van Nest; Friday Afternoon Open Thread

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100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGAs we move into the weekend, we have a few more associate pay raise announcements to share with you.
After the jump, there’s confirmed compensation news about Arent Fox, K&L Gates, Heller Ehrman, and Keker & Van Nest.
We’ve also heard the rumors about Jones Day (Dallas) raising to $150K, from multiple sources. But we haven’t seen a memo, and neither of our sources is at the firm itself. So even though it’s most likely true, we’re going to hold off on calling it until we hear directly from someone at Jones Day in Dallas (or at least see a memo).

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ATL Week in Review — Biglaw Bonus Edition: December 11-15

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stack of bills cash money.jpgWe summarized the past week in non-bonus news back in this post. Now, we provide a recap of last week in Biglaw and associate bonus news:
* In merger news, Kirkpatrick & Lockhart and Preston Gates & Ellis are combining to form “K&L Gates.”
* Meanwhile, the Dewey-Orrick merger will be delayed in its consummation.
* As for law firm associate bonuses, it was actually a pretty unexciting week, despite the flurry of announcements. With the obvious exception of Wachtell Lipton, every firm that announced essentially matched the market bonuses (as set during the prior week by Milbank).
* For the archives of our complete bonus coverage, click here, then scroll down. For bonus information about a specific firm, go to our firm-by-firm linkwrap, after the jump.

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Law Firm Merger Mania: Kirkpatrick & Lockhart, Preston Gates

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K&L Gates Kirkpatrick Lockhart Preston Gates Elllis merger merged merging Above the Law.JPGAs helpfully noted by a commenter, the news is now official. As previously rumored, the law firms of Kirkpatrick & Lockhart Nicholson Graham and Preston Gates & Ellis are getting hitched. The merger will be effective January 1, 2007.
According to the official press release, the new entity will be called “Kirkpatrick & Lockhart Preston Gates Ellis LLP,” but the firm will be BRANDED as “K&L Gates.” Because these days it’s all about the branding, kids.
We’ll have more to say later. For now, we provide you with the press release announcing the merger, kindly sent to us by a law firm publicist. It’s rather lengthy, and it reads like a geography lesson mashed up with a management consultant’s PowerPoint presentation.
(Now we feel like real journalists. We’re getting blast emails from PR folk!)
Check it out, after the jump.

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