Milbank announced special summer bonuses for associates ranging from $6,000 to $25,000 based on class year. Several midsize and boutique firms already followed with summer bonuses, including Vartabedian Hester & Haynes ($5,000); Otterbourg ($15,000); Bell Nunnally (up to $15,000); and Hueston Hennigan ($10,000 to $30,000 based on hours). Biglaw firms have so far remained silent and have largely ignored Milbank's announcement. The pattern echoes last summer when the market did not react until a top firm matched. The expectation is that the largest and most profitable Biglaw firms will ultimately match these bonuses. Tips and memos are requested via text or email, and a Bonus Alerts signup is available.
Today is August 22. It's been two full business weeks since Milbank announced that it would be handing out special bonuses to associates ($6,000 to $25,000, based on class year). Other midsize and boutique firms have already stepped in to award summer bonuses to their associates - firms like Vartabedian Hester & Haynes ($5,000); Otterbourg ($15,000); Bell Nunnally (up to $15,000); and Hueston Hennigan ($10,000 to $30,000, based on hours) - but we've heard nothing but crickets from Milbank's Biglaw brethren.
We've got one week left before Labor Day is here. If your firm announces summer bonuses, please let us know ASAP, so we can spread the news and hopefully make the market do something. Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us ( 646-820-8477) or email us (subject line: "[Firm Name] Summer Bonuses"). Please include the memo if available.
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