Ed. note: Welcome to our daily feature, Quote of the Day.
Other firms will probably follow to stay competitive, even if some of them shouldn’t, because not all firms are on equal financial footing as Milbank. But the peer firms will not have problems matching the bonuses.
— Katherine Loanzon, a managing director at search firm Kinney Recruiting, in comments given to Bloomberg Law on Milbank’s recent round of summer bonuses for associates and counsel, which range from $6,000 to $25,000, based on class year. Loanzon went on to add that these bonuses represent “a sign of optimism that the market is moving in a positive direction and firms are hopeful that revenue will increase in Q4 and in 2025.”
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
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