The BLT has just learned that Akin Gump Strauss Hauer & Feld is implementing changes to its salary plan that could give associates and counsel at the firm a little extra cash.
Anthony Pierce, the managing partner of Akin Gump's Washington office, says that the plan will reward associates and counsel who are on track to bill 2,000 hours by the end of the year. Those lawyers who meet that standard each quarter will receive a supplemental payment. Those who do not will not be penalized, Pierce adds.
“It’s a very good thing,” Pierce says. “This allows us to meet the needs of our associates and counsel while also recognizing that we’re in extraordinary economic times and we still need to meet the needs of our clients.”
The firm made the announcement via e-mail on Friday.