Credit: esfera/Shutterstock.com After Milbank Rolls Out Summer Bonuses, Big Law in 'Waiting' Mode While Associates Watch Eagerly
Many associates are asking whether their firms will give out summer bonuses, putting pressure on firms to match Milbank's bold move, one recruiter noted.
August 12, 2024 at 04:32 PM
6 minute read
Lawyer Compensation - Law Firm
What You Need to Know
- Legal industry observers said that many firms will likely wait to match summer associate bonuses, watching their peers.
- They said that geopolitical and macroeconomic uncertainty may make the bonuses a bad idea for many firms.
- Many top firms declined to comment or did not respond to a request for comment on if they would be matching the bonuses.
While law firm leaders may have rolled their eyes at Milbank's summer associate bonuses last week, several industry observers said firms are now waiting to see if others match it, even if economic trends may not support the financial hit to their profits.
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