Associates across Biglaw are sitting on pins and needles waiting for the moment their firm finally announces raises. The new compensation scheme was only announced last week, but when you’re anxious about whether you’ll get a raise to meet the new market standard, well, it can feel like an eternity.
The good news is that for folks at Akin Gump, the waiting game is over. Today, the firm announced they, too, would be raising associate salaries (between $205,000 and $365,000, depending on class year) like their peer firms.
Associates — including summer associates — in the U.S., London, and Hong Kong can expect compensation on the below scale, effective July 1:
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Counsel and senior counsel raises will be communicated separately on July 1.
You can read the firm’s full memo on the next page.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).