Compensation Is Like A Box Of Chocolates At Top 40 Firm
Except you know exactly what you're going to get.
There’s not a lot of mystery at the top of Biglaw. Firms must stick close to peer firms to avoid falling behind in the all-important tussle for talent.
So compensation is not like a box of chocolates over at Akin Gump, a firm that’s a lot like its namesake Forrest Gump. They both consistently hobnob with powerful political figures — Akin does it through its lobbying practice, while Forrest does it by getting shot in the buttocks.
Anyway, Akin mustered $1,231,343,000 in gross revenue last year to land at 40 on the Am Law charts.
The firm is matching the new normal. As a reminder that means…
Exceptional performers can get more. The folks off the grid will receive individualized comp.
But Akinites will have to wait just a tad longer than associates at other firms because the memo notes that while the salary bump is effective January 1, it’s not going to start hitting paychecks until February.
Looks like the holidays are going on plastic.
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Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
