Milbank bonuses remain static for second year

Milbank Tweed Hadley & McCloy is the first US firm to announce its year-end bonuses, which will match the firm’s bonus rates for its New York counterparts.

New York firm Milbank announced on Friday that the firm would be paying bonuses of between $30,000 and $65,000, which remains in line with last year’s level of bonus.

Milbank’s announcement follows last year’s trend of US firms, including Sulliavan & Cromwell, to award associates unchanged bonus figures of between $30,000 and $60,000.

Last year’s stagnant bonus rates at US firms followed a year of unprecedented bonus levels in 2004, when the $30,000 to $60,000 benchmark was first set.