Milbank, Tweed, Hadley & McCloy on Wednesday sent associates off on their Thanksgiving weekend with news that they will receive bonuses that matched the rates Cravath, Swaine & Moore announced on Monday.
Associates will receive bonuses of $7,500 to $35,000 depending on their class year, according to a memo to associates obtained by the New York Law Journal. The bonus memo came a day after Skadden, Arps, Slate, Meagher & Flom announced bonuses of the same amounts and added further evidence that the market rate was settling on the payments announced by Cravath.
