Akin Gump announces big bonuses for London lawyers

As much as £104k in year-end and one-time particular rewards

Lawyers within the London workplace of US agency Akin Gump are about to reap big sums of cash forward of the vacation season.

The agency is awarding associates with a year-end bonus in addition to a one-time particular bonus for their “extraordinary efforts during this very challenging year”.

They’ll obtain between $15,000 (£11,300) and $115,000 (£86,800), relying on expertise, by means of a year-end bonus, and an extra bonus, starting from $4,000 (£3,000) to $23,000 (£17,400). Taken collectively, a 2014 qualifier will obtain $138,000 (£104,200) and a 2020 qualifier $24,000 (£18,000).

Class Yr-end bonus One-time particular bonus
2021 $15,000 (pro-rated) n/a
2020 $20,000 $4,000
2019 $30,000 $6,000
2018 $57,500 $11,500
2017 $75,000 $15,000
2016 $90,000 $18,000
2015 $105,000 $21,000
2014+ $115,000 $21,000

Every particular person bonus shall be assessed based mostly on an affiliate’s general efficiency, in response to a memo despatched by the agency on Friday and seen by Authorized Cheek. This contains work high quality, follow space contributions, professional bono efforts and productiveness, which, in response to the memo, is predicted to be at or above 1,950 hours. The memo provides that as much as 100 hours spent on recruitment, variety and inclusion and/or innovation actions shall be thought-about for productiveness functions.

“As this challenging year comes to a conclusion, we thank each of you for your hard work, dedication, and commitment to our firm, our clients, our communities and each other,” mentioned Melissa Schwartz, Akin Gump’s skilled growth companion, within the memo.

In March, Akin Gump introduced particular spring bonuses of as much as $64,000 (£48,300) for associates within the US, London and Hong Kong. These have been paid in two instalments in Could and October 2021.

Akin Gump’s London lawyers earn upwards of $202,500, which works out at roughly £153,000 in response to at the moment’s change charge, making it one of many highest paying companies within the Metropolis.

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