U.S. law firm Milbank has announced the payment of special summer bonuses for associates and special counsel, marking the second consecutive year it has done so. The bonuses are seniority-based and can reach up to $25,000. Milbank has been recognized as a first mover in the legal industry regarding associate compensation. This move comes amid a period of increased billing rates, which rose by 7.4% in the second quarter of 2025 according to the Thomson Reuters Institute’s Law Firm Financial Index. The legal sector experienced a relatively smooth quarter, although uncertainty remains due to geopolitical and economic instability, which has driven demand for legal services. Recruiters anticipate that other BigLaw firms may wait until the year-end bonus season to match Milbank’s midyear special bonuses, which range from $6,000 to $25,000.