According to an AmLaw report, PPEP is up 26% at the AmLaw 50. So firms can definitely afford the Milbank bonus.

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Some people on here were repeating the narrative that firms aren’t doing well. That’s why I shared this. I’m not naive about associate leverage.

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The last two years have been relatively challenging. It looks as though this year will be better. I would love to see the article that you looked at that shows 26% increase, though.

Special bonuses are not about the financial health of the firms or partner comp, they are a question of associate leverage.

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But why would they? There is no incentive for partners to do this. The goal of a law firm is to make partners money. Why would they share when they don’t have to and the market is so tough for associates that they won’t leave?

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Most definitely an unbiased take from a legal recruiter!!!

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People are leaving Milbank at a rate Milbank can’t replace them. That’s not a good thing. The other firms are not going to throw money at a problem they don’t have.

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Associates have no leverage in this market. Who’s leaving? You, OP?

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I think it's more like 1) I'm good, 2) I don't take a pay cut for lateraling and can actually maybe at least guarantee my bonus and get a sign-on, 3) vacation time/ramp down, and 4) screw my group for not valuing me despite all the good/hard work I've done. I mean this is my mentality. I have zero concerns about getting fired or laid off or not landing somewhere. I am a bottleneck in my group. I'm also in it for money and need a vacation so...what's the downside? Not like I'm going to not do well at another firm and not like this firm is offering something others aren't (other than lax remote policy).

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26%? Over what period?

The high single digit % rate increases alone justify these bonuses.

Compared to last year.

The issue is these associate bonuses cut into partner profits and it's been a market bloodbath for poaching entire teams the past few years as firms try to strategize for the next market boost.

Dont need any more incentive to make partners leave.

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