Credit: Africa Studio/Adobe StockBonus Parade Continues, With Additional Firms Matching Milbank
While firms didn't rush to match Milbank's special bonuses in August, Cleary, Davis Polk, Weil, Skadden Arps, Cadwalader, and O'Melveny are the latest to join the ranks of those matching Milbank's summer and end-of-year bonus schedule.
November 22, 2024 at 03:34 PM
2 minute read
It’s bonus season in Big Law and Davis Polk & Wardwell; O’Melveny & Myers; Cadwalader, Wickersham & Taft; Cleary Gottlieb Steen & Hamilton; Skadden, Arps, Slate, Meagher & Flom; and Weil, Gotshal & Manges all announced Friday they will match the 2024 year-end bonus scale and “special bonuses” established by Milbank.
Associates at the firms will earn between $15,000 and $115,000 in bonuses, depending on class year seniority. At Skadden Arps, seventh year associates have the opportunity to earn $105,000 or $115,000 at the firm's discretion, while eighth year and senior associates can earn $115,000 or $125,000, both of which exceed Milbank's end of year bonus scale; and at Cadwalader, associates who have billed 2,200 or more hours will be eligible for 120% of the base-level bonus scale.
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