Desperately Seeking A Milbank Match: When Will The Waiting Game End?
Biglaw firms are busy biding their time as they wait for someone else to make the first move on bonuses and raises -- and associates are tired of waiting.
Ed. note: Welcome to our daily feature, Quote of the Day.
They’ll wait to see what the other firms are doing. But I would be surprised if they didn’t quickly follow suit.
It’s just more of a collective mentality among law firms. They feel the need to be matching what the top most profitable firms are doing to remain competitive for top law students.
— Jeffrey Lowe, founder of the consulting firm Jeffrey Lowe Partners, in comments given to the American Lawyer on when other Biglaw firms can be expected to match Milbank’s year-end associate bonuses and raises across all class years. Lowe went on to say that New York’s elite firms will officially kick off bonus season, and it’s unlikely that D.C. firms are “going to be leading the charge.”
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 and Threads or connect with her on LinkedIn.
