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The timing is sort of surprising. Obviously, there’s a war on talent. Firms want to be seen as an early leader in setting market rates, and it shows they feel confident in the market next year.
— Nathan Peart, managing director of Major, Lindsey & Africa’s associate practice group, commenting on Milbank’s announcement of year-end bonuses yesterday. Not only did the firm beat Cravath to the punch, but this is the earliest that Biglaw bonuses have been announced since 2009 (a time when bonus compensation was down, and the real bonus was still having a job).
Staci Zaretsky is a senior editor at 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 Twitter or connect with her on LinkedIn.