Milbank's year-end bonus announcement continues to establish it as a market leader in associate compensation, with bonuses ranging from $21,000 to $140,000.
Industry insiders anticipate that Cravath may respond to Milbank's bonuses, as firms often match or exceed competitive offers at the top of the market.
Biderman highlighted, 'It's too early to conjecture whether other large firms will follow Milbank's lead with similar bonuses or attach strings like hours to them.'
The competitive landscape for Biglaw bonuses implies a waiting game, with the market's reaction resting on Cravath's forthcoming announcements regarding their own bonus structure.
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