Lawyer Pay
BigLaw bonus chief makes announcement that can please associates
A regulation agency recognized for its industry-leading bulletins on bonuses and pay hikes will probably be paying summer season bonuses this 12 months. (Picture from Shutterstock)
A regulation agency recognized for its industry-leading announcements on bonuses and pay hikes will probably be paying summer season bonuses this 12 months.
Milbank is paying summer season bonuses that vary from $6,000 to $25,000 for associates, relying on class 12 months, report Above the Law and Law.com. Particular counsels may also get $25,000.
The bonuses will probably be paid to associates in good standing Sept. 30.
“Earlier this summer season,” Above the Regulation stories, “bonuses have been handed out at some elite boutiques and specialised corporations. However BigLaw leaders appeared skeptical it could catch on. Effectively, Milbank defied that expectation!”
In a memo announcing bonuses, Milbank mentioned the “first seven months of the 12 months have been extraordinarily busy for the agency,” and it expects the tempo to proceed.
Right here is the bonus schedule:
• Class of 2024: $6,000
• Class of 2023: $6,000
• Class of 2022: $10,000
• Class of 2021: $15,000
• Class of 2020: $20,000
• Class of 2019: $25,000
• Class of 2018: $25,000
• Class of 2017: $25,000
• Class of 2016 and extra senior lessons: $25,000
• Particular counsels: $25,000
Bonuses will probably be prorated based mostly on begin dates, part-time work and leaves of absences.
