Milbank matches Cravath's bonus scale, delays payment until January
Milbank Tweed Hadley & McCloy has announced the details of its associate bonus package, which matches the scale released by Cravath, Swaine & Moore some days ago.
While many are disappointed with the virtual freeze on bonuses in light of the industry’s move toward recovery, commentators note that Milbank Tweed give associates an extra slap by paying the bonuses in January rather than December.
The bonus amounts to be paid by Milbank for 2010 are:
Class of 2009: $7,500
Class of 2008: $10,000
Class of 2007: $15,000
Class of 2006: $20,000
Class of 2005: $25,000
Class of 2004: $30,000
Class of 2003: $35,000
Class of 2002: $35,000