On the second day of 2018’s year-end bonus season, the firm that brought (most of) the nation’s Biglaw associates a shiny and new $190K salary scale has issued its bonus announcement. Milbank is officially matching Cravath’s bonuses. In case you’ve somehow forgotten, this is what the 2018 bonus scale looks like:
Class of 2018 — $15,000 (pro-rated)
Class of 2017 — $15,000
Class of 2016 — $25,000
Class of 2015 — $50,000
Class of 2014 — $65,000
Class of 2013 — $80,000
Class of 2012 — $90,000
Class of 2011 — $100,000
Class of 2010 — $100,000
As we noted previously, for the past three years, Milbank was the first firm to match Cravath’s year-end bonuses, but this year, the firm is the third firm to match. Bonuses at the firm will be paid “on or before” December 31 to those who are in good standing. Talk about a nice way for Milbank associates to celebrate the New Year.
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Congratulations to Milbank and its associates on their bonuses and for inspiring Biglaw to finally move to the long dreamed of $190K salary scale!
(Flip to the next page to see the Milbank bonus memo.)
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.