In a notable move within the legal sector, Massumi + Consoli, a boutique firm specializing in middle-market deals, has announced a substantial bonus distribution for its associates. The firm’s bonus structure mirrors that of Milbank’s, a prominent Big Law firm, including bonuses ranging from $20,000 to $115,000. Additionally, the firm is awarding special bonuses up to $25,000, as detailed in an internal memo reviewed by Bloomberg Law. This strategic decision underscores Massumi + Consoli’s commitment to attracting and retaining top legal talent amidst its ongoing expansion.
Peter Massumi, a name partner at the firm, emphasized the importance of competitive compensation in maintaining a skilled workforce, stating, “We have always believed that maintaining top-of-market compensation is essential for attracting and retaining exceptional talent as our firm continues its ascent.” This move places Massumi + Consoli among other boutique firms maintaining competitive bonus scales in line with larger, more established firms.
To read more about this development, you can visit the full article on Bloomberg Law.