Early Xmas present
US law firm Milbank is spreading some early Christmas cheer by awarding substantial bonuses to its lawyers.
The firm announced this week that associates can expect to receive bonuses between $15,000 (£12,000) to $115,000 (£90,000), depending on their level of experience, US website Above The Law reports.
For example, the ‘Class of 2024’ — essentially a newly qualified (NQ) associate — will earn an extra $15,000, while those with at least six years of experience will receive $100,000 (£78,300)
Associates in “good standing” will be get their bonuses by 31 December.
The breakdown of bonuses is as follows:
Class of 2024: $15,000
Class of 2023: $20,000
Class of 2022: $30,000
Class of 2021: $57,000
Class of 2020: $75,000
Class of 2019: $90,000
Class of 2018: $105,000
Class of 2017: $115,000
Class of 2016: $115,000
The Legal Cheek Firms Most List shows that Milbank associates are among the highest-paid in the City, with NQ lawyers earning an impressive £170,455. It offers eight London-based training contracts annually.
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