2019 BONUS MEMORANDUM — AKIN GUMP
All,
We are very pleased to announce 2019 bonuses and 2020 compensation. We truly appreciate your efforts and contributions to our firm. The 2019 bonus grid is as follows:
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Class of 2019 – $15,000 (pro-rated)
Class of 2018 – $15,000
Class of 2017 – $25,000
Class of 2016 – $50,000
Class of 2015 – $65,000
Class of 2014 – $80,000
Class of 2013 – $90,000
Class of 2012 – $100,000
Class of 2011 – $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. 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. While 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 bonohours, general counsel hours and business development hours in assessing productivity. In addition, as previously announced, up to 100 hours of time spent on recruiting, diversity & inclusion, and/or innovation activities will also be considered for productivity purposes.
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 2020 base salary grid for associates and counsel will remain the same as in 2019, with class-year advancements in base salary. Salary adjustments and bonuses will be paid as early in 2020 as possible, with adjustments in your 2020 salary retroactive to January 1, 2020. All associates and counsel will be notified of their 2019 bonus amounts and 2020 compensation prior to payment. We will hold a Town Hall meeting by videoconference to offer some additional information once individual bonuses have been determined.
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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 H. Botter
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