Ed. note: Welcome to our daily feature, Quote of the Day.
Corporate, from a lateral associate standpoint, is so-so, unless you’re talking about anything related to finance, and therefore I don’t think firms will be compelled to issue a summer bonus unless another New York firm like Cravath or Sullivan & Cromwell follows Milbank. I think you need a second shoe to drop.
— Matt Schwartz, a recruiter with Garrison, in comments given to the American Lawyer, concerning Milbank’s decision to offer summer bonuses to associates and counsel globally. Milbank’s bonuses range from $6,000 to $25,000, depending on class year. While no other Biglaw firms have matched, thus far, three other firms have announced their own summer bonuses: Vartabedian Hester & Haynes ($5,000), Otterbourg ($15,000), and Hueston Hennigan ($10,000 to $30,000).
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
The post Biglaw’s Waiting For ‘A Second Shoe To Drop’ Before Matching Milbank’s Summer Bonuses appeared first on Above the Law.
Ed. note: Welcome to our daily feature, Quote of the Day.
Corporate, from a lateral associate standpoint, is so-so, unless you’re talking about anything related to finance, and therefore I don’t think firms will be compelled to issue a summer bonus unless another New York firm like Cravath or Sullivan & Cromwell follows Milbank. I think you need a second shoe to drop.
— Matt Schwartz, a recruiter with Garrison, in comments given to the American Lawyer, concerning Milbank’s decision to offer summer bonuses to associates and counsel globally. Milbank’s bonuses range from $6,000 to $25,000, depending on class year. While no other Biglaw firms have matched, thus far, three other firms have announced their own summer bonuses: Vartabedian Hester & Haynes ($5,000), Otterbourg ($15,000), and Hueston Hennigan ($10,000 to $30,000).
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
