AKIN GUMP STRAUSS HAUER & FELD LLP — MEMORANDUM — 2014 BONUSES AND 2015 COMPENSATION
From: Botter, David
Sent: Monday, February 09, 2015
To: AU Associates; DA Associates; DA Counsel; HO Associates; HO Counsel; SA Associates; SA Counsel; NY Associates; NY Counsel; LO Associates; LO Counsel; PH Associates; PH Counsel; WA Associates; WA Counsel; LC Associates; LC Counsel; IR Associates; IR Counsel; SF Associates; SF Counsel; FT Associates
Cc: FW Practice Group Leaders; AU Partners; DA Partners; HO Partners; SA Partners; NY Partners; LO Partners; PH Partners; WA Partners; IR Partners; LD Partners; LC Partners; SF Partners
Subject: 2014 Bonus & 2015 Compensation Announcement
In recognition of your efforts this year, and consistent with our continuing commitment to provide a competitive compensation package for our associates and counsel, we are pleased to announce our 2014 bonuses and 2015 compensation.
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As in prior years, individual bonuses are based upon an assessment of each associate or counsel’s overall performance as determined in the evaluation process, including work quality, demonstration of progress through the core competencies, productivity and contribution to practice group performance, firm citizenship and pro bono efforts. Although there is no hard and fast minimum hour threshold for receiving a bonus, in general associates and counsel whose productivity was greater than 1950 hours received a 2014 bonus. The bonus scale is established following a careful monitoring of each of our markets to determine a bonus scale that is competitive in each of those markets.
This year, as in the past, the firm is pleased to reward truly outstanding performers with bonuses that exceed the market bonus for their respective class (as set forth below). Those associates and counsel whose performance and productivity was deemed extraordinary received additional bonus amounts ranging from $5,000 – $25,000 above the market level for their class.
Practice managers, in consultation with a wide range of partners within the practice group, determine individual bonus awards based on a careful analysis of the stated criteria. All bonuses are subject to discretionary adjustments based on the quality of the individual associate or counsel’s contribution this past year.
The following will be paid to all associates and counsel who meet the requirements set forth above:
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Class of 2013 – $15,000
Class of 2012 – $25,000
Class of 2011 – $50,000
Class of 2010 – $65,000
Class of 2009 – $80,000
Class of 2008 – $90,000
Class of 2007 – $100,000
Class of 2006 – $100,000
In our continuing effort to address your desire for transparency, we are pleased to share that overall, 70% of all associates and counsel met the bonus criteria and received a 2014 bonus. 72% of those associates and counsel received a market bonus, with 20% receiving an additional merit bonus, and 8% receiving a bonus under the market scale.
Our 2015 base salary grid for associates and counsel will remain the same as in 2014, with class-year advancements in base salary. Adjustments in your 2015 salary will be reflected in the February 13th payroll retroactive to January 1, 2015. Bonuses will also be paid in the February 13th payroll and will be pro-rated for associates and counsel who started at the firm prior to September 1st, are on a reduced work schedule or who were on an approved leave of absence during 2014.
Again, thank you for all of your efforts.
David
David H. Botter, P.C.
AKIN GUMP STRAUSS HAUER & FELD LLP