Ed. note: Welcome to our daily column, Quote of the Day.
Milbank’s decision to increase salaries rather than grant another bonus has a much greater impact because it affects many long-term associates. In theory, the bonus is actually intended for exceptional years: it will have more impact than any bonus.
— Stephanie Biderman, Associate Recruiter for Major Lindsey & Africain comments addressed to American lawyerregarding the impact of Milbank’s decision to increase associate salaries, rather than distributing a one-off special bonus. Milbank’s increase was quickly adopted by McDermott, Hueston Hennigan, VKHH, Quinn Emanuel and Katten.
Staci Zaretsky is the editor-in-chief of Above the Law, where she has worked since 2011. She would love to hear from you, so please email her with any tips, questions, comments, or critiques. You can follow her Blue sky, X/TwitterAnd Topicsor connect with her on LinkedIn.
