Top Biglaw Firm Announces New Spring Special Bonuses, And The Bonus War Is On!
Let the Biglaw matches commence!
Subject: 2021 Special Bonuses
Sensitivity: Private
In recognition of your exceptional efforts during what continues to be a challenging and busy period, we are delighted to announce that we will be paying special bonuses in April and September to our associates globally. The amounts set forth below will apply to associates in our offices in the United States, London, Brazil and Asia. Bonus amounts for our German associates will be announced separately.
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The Firm is off to a great start to the year and your tireless dedication, resilience and enthusiasm have allowed us to deliver the highest level of client service, while remaining engaged with the Milbank community and serving the broader communities where we live and work.
We appreciate your talent and commitment and want to share the Firm’s financial success with you.
Bonuses for Special Associates and Counsel will be determined and communicated on an individual basis.
The bonus schedule for associates in the United States, London, Brazil and Asia is outlined below.
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| April | September | Total | |
| Class of 2020 | $4,500 | $7,500 | $12,000 |
| Class of 2019 | $6,000 | $10,000 | $16,000 |
| Class of 2018 | $12,000 | $20,000 | $32,000 |
| Class of 2017 | $16,500 | $27,500 | $44,000 |
| Class of 2016 | $19,500 | $32,500 | $52,000 |
| Class of 2015 | $22,200 | $37,000 | $59,200 |
| Class of 2014 | $24,000 | $40,000 | $64,000 |
| Class of 2013 | $24,000 | $40,000 | $64,000 |
Bonuses will be paid on or before April 30, 2021 and September 30, 2021, to associates in good standing, subject to policies in our offices. Bonuses will also be subject to the usual prorations for 2021 start dates, part-time schedules and unpaid leaves of absence. These special bonuses will not impact any discretionary bonus paid in respect of 2021.
We expect our year-end bonus will be no less than the 2020 year-end bonus levels for eligible associates.
Consistent with the approach we took last year when we paid September special bonuses, we anticipate that the September and year-end bonuses may take into account individual contributions to the Firm and our clients so that some individuals may receive a higher or lower amount than the specific level described above.
On behalf of the partnership, we thank you for your extraordinary efforts. We know this year has presented new challenges for many of you on a personal level. We hope that you and your families are staying healthy and well.
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Scott A. Edelman
Scott Edelman | Milbank
Partner and Chairman
