Milbank LLP on Aug. 7 told lawyers it will award special summer bonuses ranging from $6,000 to $25,000, matching the scale it introduced last year. The payments will go to all associates and special counsel in good standing and are scheduled to be distributed by Sept. 30, according to an internal memo seen by Reuters. Chair Scott Edelman said the New York-founded firm expects activity levels to remain high through the rest of the year. Milbank’s move makes it the first major corporate law firm to announce summer bonuses in 2025, keeping it at the forefront of an industry-wide pay contest that it helped ignite when it initiated similar payouts in 2024. Last November Milbank also led peers with year-end bonuses that reached $115,000 for senior associates. Compensation decisions at Milbank are closely watched because rival firms often follow suit—frequently at year-end—underscoring the competitive pressures large U.S. firms face in retaining talent.