McDermott Will & Schulte is one of the first Big Law firms to announce year-end bonuses for its junior lawyers.
The firm is doling out annual bonuses ranging from $20,000 to $115,000, according to a memo viewed by Bloomberg Law. It’s also issuing special bonuses that range up to $25,000.
The extra payments mirror those announced by Cravath Swaine & Moore on Tuesday.
Milbank LLP issued mid-year incentives for its junior lawyers in August, but the firm has yet to announce year-end bonuses.
The combined bonuses are at the same scale top firms used last year. The moves reflect a strong year for leading firms, despite global uncertainty and threats to some by President Donald Trump.
McDermott in August completed a merger with Schulte Roth & Zabel, creating a roughly 1,750-lawyer firm with more than 20 global offices. It is expected to be among the 20 largest US firms by gross revenue, with a combined $2.8 billion in gross revenue last year.
The firm is considering taking outside investment through a private equity deal, leader Ira Coleman recently acknowledged.
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