All articles tagged with #associate compensation
Milbank announces global special bonuses up to $25,000 for all associates and special counsel, on top of earlier June salary raises; bonuses are payable by August 31, 2026, signaling pressure for other BigLaw firms to match in the near term.
Seward & Kissel said it will adopt Milbank's new associate salary scale effective July 1, joining a broader industry push to align pay with the market. In a memo, Daniel Bresler framed the change as an exciting update and noted that moving quickly helps the firm stay competitive for talent, contrasting with peers that have been slower to act. The report also highlights the firm’s playful culture (miniature golf hole, ugly sweater contest) and invites tips on other salary announcements.
Ropes & Gray has announced it will match Milbank's bonus scale for its US-based partnership track associates who meet the 1900-hour threshold, with potential for additional bonuses for those exceeding expectations. The firm, ranked 8th on the Am Law 200 with nearly $3 billion in revenue, plans to distribute bonuses on December 24. The announcement encourages associates to report their firm's bonus matches to Above the Law for updates.
Cravath has announced both year-end and special bonuses for its associates, matching the bonus scale set by Milbank. These bonuses will be distributed in December across their New York, D.C., and London offices without specific billable hours requirements. This move is expected to influence other major Biglaw firms to follow suit in their bonus offerings.