Law Firms Embrace Milbank’s Lead in Awarding 2024 Associate Bonuses

Numerous law firms, varying in size from international giants to specialized boutiques, have followed the lead of Milbank LLP in awarding 2024 associate bonuses. This development unfolded late Thursday and continued into Friday, as indicated by firm memos and various media reports. This decision illustrates a broader trend in the legal industry where firms are aligning with Milbank’s precedent, potentially influencing remuneration strategies across the sector.