Milbank LLP has announced plans to distribute special bonuses to its associates and counsel, ranging from $6,000 to $25,000, with amounts varying based on seniority. The announcement was revealed through an internal memo obtained by Bloomberg Law, which highlighted the firm’s recognition of a busy year thus far, and anticipates a continued high workload throughout the remaining months of 2024.
This move follows Milbank’s prior decision to lead the way in increasing the salary scale for associates last year, setting off a trend among other major law firms. The internal memo noted, “We know that the first seven months of the year have been extremely busy for the firm. And based on the pipeline of work, we expect that the pace will continue through the summer and the rest of the year.”
The bonuses aim to acknowledge and reward the dedication and hard work of Milbank’s legal team during a period of significant activity. This is not only a financial boost for the recipients but also reinforces Milbank’s commitment to remaining competitive in attracting and retaining top legal talent.
For more details, you can read the full article on Bloomberg Law.