AKIN GUMP — 2020 BONUS MEMO
All,
We are very pleased to announce 2020 bonuses and 2021 compensation. We truly appreciate your efforts and contributions to our firm in this most challenging of years. The 2020 bonus grid is as follows:
Paying for Law School in 2025: A Straight-Talk Playbook
Juno has consistently secured the best private loan deals for students at the Top MBA programs since 2018—now they’re bringing that same offer to law students, at no cost. Students can check their personalized offers at juno.us/atl This article is for general information only and is not personal financial advice.
Class of 2020 – $15,000 (pro-rated)
Class of 2019 – $15,000
Class of 2018 – $25,000
Class of 2017 – $50,000
Class of 2016 – $65,000
Class of 2015 – $80,000
Class of 2014 – $90,000
Class of 2013 – $100,000
Class of 2012 – $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 bono hours, general counsel hours, business development hours and up to 100 hours of time spent on recruiting, diversity & inclusion, and/or innovation activities in assessing productivity.
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 2021 base salary grid for associates and counsel will remain the same as in 2020, with class-year advancements in base salary. Salary adjustments and bonuses will be paid no later than February 15, 2021, with adjustments in your 2021 salary retroactive to January 1, 2021. All associates and counsel will be notified of their 2020 bonus amounts and 2021 compensation prior to payment. We will hold a Town Hall meeting by webex to offer some additional information once individual bonuses have been determined.
Skills That Set Firms Apart
Legal expertise alone isn’t enough. Today’s most successful firms invest in developing the skills that drive collaboration, leadership, and business growth. Our on-demand, customizable training modules deliver practical, high-impact learning for attorneys and staff—when and where they need it.
I hope you all enjoy your holidays and wish you a very happy and healthy new year. I hope that you and your families stay safe. Again, thank you for all of your efforts!
Staci Zaretsky is a senior editor at Above the Law, where she’s worked 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.