BigLaw bonus leader makes announcement that will please associates

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BigLaw bonus chief makes announcement that…

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BigLaw bonus chief makes announcement that may please associates

By Debra Cassens Weiss

August 8, 2024, 12:04 pm CDT

A legislation agency recognized for its industry-leading bulletins on bonuses and pay hikes will probably be paying summer season bonuses this yr.

Milbank is paying summer season bonuses that vary from $6,000 to $25,000 for associates, relying on class yr, report Above the Regulation and Regulation.com. Particular counsels may even get $25,000.

The bonuses will probably be paid to associates in good standing Sept. 30.

“Earlier this summer season,” Above the Regulation reviews, “bonuses had been handed out at some elite boutiques and specialised corporations. However BigLaw leaders appeared skeptical it will catch on. Effectively, Milbank defied that expectation!”

In a memo saying bonuses, Milbank stated the “first seven months of the yr have been extraordinarily busy for the agency,” and it expects the tempo to proceed.

Right here is the bonus schedule:

  • Class of 2024: $6,000

  • Class of 2023: $6,000

  • Class of 2022: $10,000

  • Class of 2021: $15,000

  • Class of 2020: $20,000

  • Class of 2019: $25,000

  • Class of 2018: $25,000

  • Class of 2017: $25,000

  • Class of 2016 and extra senior courses: $25,000

  • Particular counsels: $25,000

Bonuses will probably be prorated primarily based on begin dates, part-time work and leaves of absences.