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Summer Surprise: Milbank Announces Special Bonuses Up To $25K
Above the Law • • business
Key Points:
- Milbank has announced special bonuses for all associates and special counsel globally, in addition to the salary raises it announced in June, setting a new standard in Biglaw compensation.
- The bonuses will be paid before August 31, 2026, as a recognition of associates' exceptional efforts, according to a memo from Milbank’s chair, Scott A. Edelman.
- This move puts pressure on other Biglaw firms to match Milbank’s bonus scale, raising questions about which firm will be the first to follow suit without waiting for Cravath’s lead.
- The announcement encourages associates to share updates on their firms’ compensation changes via text or email to help track industry-wide trends.
- Interested parties can sign up for ATL’s Bonus Alerts to receive timely notifications about bonus announcements and salary updates across law firms.
