New York firm Milbank Tweed Hadley & McCloy has become the first top US firm to announce its year-end bonuses, with the firm matching last year’s offer of between $30,000 (£15,000) and $65,000 (£33,000).

The announcement marks the second year running that the firm has not raised bonuses, having kept the same figures last year. In 2005, associates at the firm bagged a salary of $125,000 (£72,000) and a total remuneration package of $155,000 (£89,500).