Biglaw’s compensation is going through the roof. Most of the elite biglaw law firms have already announced special bonuses, usually in two payments in the spring and fall, but it turned out that this was just the tip of the compensation iceberg.
This morning, Milbank announced salary increases for all employees, ranging from $ 10,000 to $ 15,000 depending on the year. And compared to special bonuses (which Milbank has already adjusted, of course), salary increases are much better as they will definitely be there next year.
So let’s get to the dollars and cents. Here’s what the new Milbank salary scale now looks like:
You can read the full announcement on the next page.
Remember, Milbank was also the first company to raise salaries in 2018. I think they really enjoy waging the pay wars.
Law firm chairman Scott Edelman said of the salary increases:
“Our people have worked harder than ever and it’s been three years since we raised salaries. We thought it would make sense to honor their efforts with a raise. “
Congratulations Milbank employees! Now let’s see which companies fit together!
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Kathryn Rubino is Senior Editor at Above the Law and host of The Jabot podcast. AtL tipsters are the best, so please contact them. Feel free to email her with tips, questions, or comments and follow her on Twitter (@ Kathryn1).