Ed. note: Welcome to our daily feature, Quote of the Day.
We’re definitely hearing it from associates—asking whether we think their firms will be matching summer bonuses. A good number of associates have been putting in the hours on the practices that have been busy, including litigation and structured finance groups. There are definitely pockets of associates that feel they deserve the summer bonuses, so I think eventually firms will probably match.
— Katherine Loanzon, managing director at search firm Kinney Recruiting, in comments given to the American Lawyer on what Biglaw associates are going through as they anxiously await news on summer bonuses. On August 8, Milbank announced summer bonuses for associates and counsel, ranging from $6,000 to $25,000, based on class year. Thus far, no other Biglaw firms have matched.
The Law Firm’s Guide To Trust Accounting And Three-Way Reconciliation
Proper trust accounting and three-way reconciliation are essential for protecting client funds and avoiding serious compliance risks. In this guide, we break down these critical processes and show how legal-specific software can help your firm stay accurate, efficient, and audit-ready.
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 X/Twitter and Threads or connect with her on LinkedIn.