Milbank set the bar for associate compensation with year-end and special bonuses, prompting industry leaders to match or risk dissatisfaction among associates.
Both Perkins Coie and Hogan Lovells have responded to pressure for competitive associate compensation, issuing special bonuses ranging from $6,000 to $25,000.
Hogan Lovells emphasized that their decision to provide bonuses was influenced by "associates' feedback," highlighting the importance of employee input in compensation decisions.
Perkins Coie confirmed that their bonus decision reflects a commitment to market-competitive compensation and is based on the firm's strong financial performance.
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