"With Halloween nearly upon us, that means bonus season is right around the corner. In years past, Biglaw firms were all about treats, offering pandemic-related special bonuses amid a white-hot lateral market. But here in 2025, some firms are handing out tricks - like $0 in Milbank special bonus cash (thus far, at least). That said, associates are now eagerly awaiting their year-end bonuses."
"As a little reminder - as if you really needed one - this is what last year's Milbank/ Cravath bonuses looked like: Bonus money remained the same in 2024 after Cravath increased the size of its bonuses across all class years in 2021. Everyone saw more money, and the most senior associates in Biglaw received $115,000 instead of the usual $100,000. Once again, it was a great year for bonuses. With all of that background, let's turn to this year's bonuses."
Nearly 400 associates responded to an annual bonus season survey. Sixty-three percent predict no change in 2025 bonus amounts compared with 2024, while 34% expect higher year-end bonuses. Associates express strong optimism about special or matching bonuses, with a larger share anticipating firms will match summer Milbank bonuses compared with 49% who thought so last year. Milbank has not announced a special summer bonus so far in 2025, and 2024 base bonuses remained the same after prior increases; senior Biglaw associates received $115,000 instead of the usual $100,000 in 2024.
Read at Above the Law
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