Biglaw, Bonuses, Money, Skaddenfreude

Associate Bonus Watch: A Real Milbank Bonus Announcement

stack of bills cash money.jpgWe’re away from the internet for a few hours — to attend a friend’s art opening, followed by drinks and dinner — and lo and behold, the first big bonus announcement comes in.
That’s what we get for stepping away from our computer on a Friday night. We had a feeling that today might be the day.
Anyway, thanks to everyone who brought the news to our attention. With apologies for the ridiculous and inexcusable delay — go ahead, rank on us, we deserve it — here’s the (real) Milbank Tweed bonus memo:
In The Classes of 2006 – 1998
The Firm is very pleased to announce that we will again be paying special year-end bonuses this year to all associates in the classes of 2006 to 1998. Bonuses will be paid on or before January 16, 2007 to associates who are in good standing and actively employed with us on the date the bonuses are paid. Bonuses will be prorated to reflect 2006 start dates, part-time schedules and unpaid leaves of absence. Bonuses will range between $30,000 and $65,000 depending on class year as follows (and will be paid in local currency equivalents where appropriate at the then current exchange rate):
Class of 2006 – $30,000
Class of 2005 – $35,000
Class of 2004 – $40,000
Class of 2003 – $45,000
Class of 2002 – $50,000
Class of 2001 – $55,000
Class of 2000 – $60,000
Class of 1999 – $65,000
Class of 1998 – $65,000
The Firm sincerely thanks you for your many contributions and extends best wishes for a very happy and healthy holiday season.
The memorandum’s authenticity has been confirmed to us by multiple sources. Furthermore, Milbank chairman Mel Immergut even made on-the-record comments about the firm’s bonuses to the WSJ Law Blog.
So this is news you can take to the bank. Happy Holidays, Milbank Tweed associates!
Milbank’s Bonus…The Real Deal [Infirmation/Greedy NY]
Memorandum to Associates []
Get Ready to Celebrate — Bonus News Is In [WSJ Law Blog]
Earlier: Associate Bonus Watch: The Milbank Memo Is Fake
Associate Bonus Watch: The Milbank Memo Is REALLY Fake
Prior ATL coverage of bonuses (scroll down)

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