The Akin Gump chair says, 'Let it rain.'
Akin Gump is paying "special" bonuses to its lawyers to reward them for their commitment during the pandemic.
The bonuses will be paid to associates and counsel in London, the US and Hong Kong, as long as the solicitors are deemed to be "in good standing".
Solicitors who qualified in 2019 will receive $7,500 (£5,880), 2PQEs will get $10,000 ($7,630), and 3PQEs will receive $20,000 (£15,260).
7PQEs and above will receive a whopping $40,000 (£30,517).
The bonuses will be paid on 30 November. Akin Gump's lawyers were informed of the surprise windfalls in an email from Kim Koopersmith, the US firm's chairperson, on Wednesday.
"We are extremely grateful for all you have contributed to the firm and our clients this year", wrote Koopersmith. The "level of commitment has been intense" in "the most challenging of circumstances”, and "in recognition of your dedication and contribution to our firm, we will be paying a special fall bonus to our associates and counsel in good standing", she said.
Using the US classifications, she set out the bonus scale:
• Class of 2019 $ 7,500
• Class of 2018 $10,000
• Class of 2017 $20,000
• Class of 2016 $27,500
• Class of 2015 $32,500
• Class of 2014 $37,000
• Class of 2013 & senior $40,000
Koopersmith reassured her lawyers that Akin Gump's year-end bonus process would not be affected by the "special bonus", and that the firm expected to pay those bonuses out as well, and at the market scale.