Associates at this BigLaw firm can choose one of 3 billable-hour budgets. https://t.co/0KvZZMKr88 #BigLaw #lawyerpay
Steptoe LLP is the latest firm to announce associates will have the opportunity to earn a higher base salary in 2025, with an associate's place on the payscale depending on their billable hours. https://t.co/K5XqgoqBPX
Another Boutique Law Firm Offers Milbank Money To Associates https://t.co/tIwFQ716Gr
Several boutique law firms have joined the trend of increasing associate bonuses, following the lead of major firms like Milbank LLP and Cravath Swaine & Moore LLP. Glenn Agre Bergman & Fuentes LLP and Ross Aronstam & Moritz LLP announced on December 8, 2024, that they will match the cash bonuses set by Milbank. Additionally, it has been reported that some BigLaw firms are offering even higher bonuses for top associates. Steptoe LLP has also indicated that associates will have the chance to earn a higher base salary starting in 2025, with their pay scale linked to billable hours. This trend reflects a competitive environment among law firms as they seek to attract and retain talent.
