Milbank LLP kicked off Big Law’s year-end bonus season Monday, announcing extra payments ranging up to $115,000 for its most senior associates.
The Wall Street law firm’s bonus scale mirrors that used by Milbank and its competitors last year, according to the firm. The scale starts at $15,000 for first-year associates.
Milbank, which has been an early mover in associate compensation in recent years, was the first to announce annual bonuses at the end of 2023.
The firm this summer also rolled out special bonuses for associates, ranging from $6,000 to $25,000. Big Law firms did not immediately move to match the extra payments, unlike in other years.
The firm’s new bonuses will be paid out on December 31.
Above The Law was the first to report the bonus announcement.
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