Taking the BigLaw lead, Milbank announces year-end bonuses
Milbank announced Monday that it will be matching last year’s year-end bonus scale. (Image from Shutterstock)
Milbank announced Monday that it will be matching last year’s year-end bonus scale, paying associate bonuses that range from $15,000 to $115,000.
Milbank was the first BigLaw firm to announce 2024 bonuses, in keeping with its frequent practice. Above the Law broke the bonus news, followed by Law.com.
Last year, Milbank announced pay hikes along with year-end bonuses. That didn’t happen this year. But Milbank is the only BigLaw firm that also paid summer bonuses this year.
When Milbank’s year-end bonuses are combined with summer bonuses, the amounts range from $21,000 to $140,000.
Here is the schedule for year-end bonuses, followed by the total when combined with summer bonuses:
• Class of 2024: $15,000 year-end, $21,000 total
• Class of 2023: $20,000 year-end, $26,000 total
• Class of 2022: $30,000 year-end, $40,000 total
• Class of 2021: $57,500 year-end, $72,500 total
• Class of 2020: $75,000 year-end, $95,000 total
• Class of 2019: $90,000 year-end, $115,000 total
• Class of 2018: $105,000 year-end, $130,000 total
• Class of 2017: $115,000 year-end, $140,00 total
• Class of 2016: $115,000 year-end, $140,000 total
The bonuses are prorated based on start dates and part-time work. They will be paid by Dec. 31.
