AKIN GUMP — 2017 BONUS ANNOUNCEMENT
All,
We are very pleased to announce 2017 bonuses and 2018 compensation. We truly appreciate your efforts and contribution to our firm. The 2017 bonus grid is as follows:
Class of 2016 – $15,000
Class of 2015 – $25,000
Class of 2014 – $50,000
Class of 2013 – $65,000
Class of 2012 – $80,000
Class of 2011 – $90,000
Class of 2010 – $100,000
Class of 2009 – $100,000
As in prior years, all individual bonuses will be 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, contribution to your practice group, firm citizenship and pro bono efforts. There is no hard and fast productivity level for receiving a bonus — in assessing the full range of criteria, productivity at or above 1950 hours is in line with our expectations. As we have done in prior years, we will consider pro bono hours and general counsel hours as part of productivity and, this year, we are pleased to also include business development hours in assessing productivity. Practice group leaders, in consultation with a wide range of partners within the practice group, will determine individual bonus awards based on a careful analysis of the stated criteria.
In addition, this year, as in the past, the firm will reward truly outstanding performers with bonuses that exceed the market bonus for their respective class (as set forth above). Those associates and counsel whose performance and productivity is deemed extraordinary, will receive additional bonus amounts ranging from $5,000 – $25,000 above the market level for their class.
Our 2018 base salary grid for associates and counsel will remain the same as in 2017, with class-year advancements in base salary. Adjustments in your 2018 salary will be retroactive to January 1, 2018. Salary adjustments and bonuses will be paid as early in 2018 as possible. All associates and counsel will be notified of their 2017 bonus amounts and 2018 compensation prior to payment.
Heading To Legalweek? Come Join Above The Law!
Meet the team in NYC at our Monday night happy hour — 3/9 at 7pm. RSVP required.
We will hold a Town Hall meeting by videoconference to offer some additional information once individual bonuses have been determined.
I hope you all enjoy your holidays and wish you a very happy and healthy new year. Again, thank you for all of your efforts!
David
David H. Botter, P.C.
AKIN GUMP STRAUSS HAUER & FELD LLP
Staci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.