Milbank LLP Unveils Generous Summer Bonuses of Up to $25,000 for Associates

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Leading U.S. law firm Milbank LLP is taking the helm again in associate compensation by awarding special summer bonuses of up to $25,000 for associates and special counsel across its global offices. These seniority-based payouts, which begin at $6,000 and ascend depending on class year, will be disbursed by September 30 Reuters.

This marks the first corporate law firm this summer to roll out mid-year bonuses—even though such discretionary awards aren’t guaranteed annually Biglaw Investor+11Reuters+11Reuters+11. Notably, Milbank had also been among the earliest in the sector to announce year-end bonus packages last November, with amounts reaching up to $115,000 Biglaw Investor+10Reuters+10ABA Journal+10.

Milbank’s chairman, Scott Edelman, emphasized that sustained high activity levels across the firm justify the timing of these incentives Reuters+1.

  

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While it’s common for one firm’s compensation move to drive competitors to follow suit, rivals did not immediately match Milbank’s special bonuses last summer. Rather, many opted to top up with matching bonuses at year-end to complement their standard annual payouts Reuters+10Reuters+10Reuters+10.

Meanwhile, New York-based litigation firm Otterbourg, with approximately 65 lawyers, also awarded a $15,000 mid-year bonus to all full-time associates, citing their contributions to the firm’s success.

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