Hogan Lovells, Perkins Coie Ignore Special Bonuses This Year

Bonus season is in full swing, but not all firms are making it rain.

While most law firms that have announced matches of the year-end bonus and an additional special bonus scale set by Milbank, two firms—Hogan Lovells and Perkins Coie—have opted out of the latter.

“Firms just don’t feel the pressure anymore to follow,” said Katherine Loanzon, a managing director at search firm Kinney Recruiting.

Associates receive year-end bonuses annually, but special bonuses are discretionary and are typically given when law firms are having a good financial year and are looking to get an edge in ...