Big Law awaits Milbank move on bonuses

MILBANK has been a first-mover on associate compensation in recent years, but it’s been notably quiet so far as Big Law’s bonus season heats up, Tatyana Monnay reports.

• Wall Street’s Cravath Swaine & Moore said yesterday it would pay associates a pair of bonuses ranging up to $140,000, based on seniority. A handful of firms—Fried Frank, Paul Hastings, McDermott Will & Schulte, and, Cadwalader Wickersham & Taft—quickly followed.
• Many expect Milbank to match, but it wouldn’t be surprising if the New York firm increased its offerings, according to David Nicol, head of the US practice for recruiting firm Marsden. The ...