Milbank Announces Associate Salary Increases!
Milbank is leading the way on compensation!
Biglaw compensation is through the roof right now. The bulk of elite Biglaw firms have already announced special bonuses, generally in two payments throughout the spring and fall, but turns out, that was only the tip of the compensation iceberg.
This morning, Milbank announced salary increases for all associates, ranging from a $10,000 to $15,000 raise, depending on class year. And, compared with special bonuses (which Milbank already matched, natch) salary bumps are way better since they’ll definitely be there next year.
So, let’s get down to the dollars and cents. Here’s what the new Milbank salary scale looks like now:
Law Firm Business Development Is More Than Relationship Building
The raise is effective July 1, 2021. You can read the full announcement on the next page.
Remember, Milbank also was the first firm to raise salaries back in 2018. I guess they really like leading the compensation wars.
Firm Chair Scott Edelman said of the raises:
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“Our associates have been working harder than ever, and it has been three years since we increased salaries. We thought it made sense to recognize their efforts with a salary increase.”
Congrats, Milbank associates! Now let’s see which firms match!
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
