2023 Milbank Scale - Matches/Updates Forum

[Barry grandpapy]

This thread is focused on Milbank scale updates (matches, raises, etc.) as they roll in throughout the year.

Will update this post in an organized bullet fashion with firms that match/fall below the new Milbank rate.

[Anonymous User]

Is today the day? It feels like it's been a week or so now.

[Barry grandpapy]

Oh lame you can't update posts anymore. Anyways:

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+

Will probably keep this thread going and only bump it with consolidated bullets when verified updates come in. Please keep other posts (e.g., discussions of firm prestige, in the other thread).

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000

Current market bonus:
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000

[Anonymous User]

McDermott https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings https://abovethelaw.com/2023/11/paul-ha ... onus-2023/

[Barry grandpapy]

McDermott https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss https://www.law.com/americanlawyer/2023 ... 1029110915

Thank you, these bumps are welcome. I've also updated the scale below to note PH listed class of '16+ information as well. I'll add firms to the asterisk that follow.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000

Current market bonus:
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss

[Anonymous User]

Should we note that Paul Hasting's raise is effective February 1, a month after market?

[Barry grandpapy]

Cleary and Baker McKenzie matches updated below.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary and Baker McKenzie match.

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000

Current market bonus:
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/

[Barry grandpapy]

Proskauer and Dechert updates below.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer and Dechert match.

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000

Current market bonus:
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)

[glitched]

I think you can update your first post.

[Barry grandpapy]

I think you can update your first post.

Apparently edits time out shortly after posting so this is what I'm going to roll with. Kind of annoying but the goal is a consolidated report with timely updates on all firms.

Hogan and Skadden updates below.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer, Dechert, Hogan and Skadden match.

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000

Current market bonus:*
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
**Class 2016+ - $115,000

*Skadden: As has been Skadden's practice, class of 2017+ bonuses are differentiated with a range of an additional $10k. So the class of '17 range is $105-115k and the class of '16+ range is $115-125k.
**Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer; and Hogan.


Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)
Hogan: https://abovethelaw.com/2023/11/ho-ho-h ... d-bonuses/
Skadden: https://abovethelaw.com/2023/11/skadden ... d-bonuses/ (DM from a friend confirmed the year '17 and '16+ bonus range point above)

[Barry grandpapy]

Sidley and DPW updates below. Can Milbank please chime in and clean this scale up? It's getting a bit wonky.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer, Dechert, Hogan and Skadden match.

• Nov 30 Davis Polk matches. Sidley adds year '15 to the scale and increases their base by $10k and the memo further notes additional bonuses for exceptional performance.

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000
**Sidley 2015 - $445,000

Current market bonus:***
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer; Hogan; Skadden; and DPW.
**Sidley added $10k to '15 base salary and matched the bonus threshold for '16+.
***Skadden: As has been Skadden's practice, class of 2017+ bonuses are differentiated with a range of an additional $10k. So the class of '17 range is $105-115k and the class of '16+ range is $115-125k.

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)
Hogan: https://abovethelaw.com/2023/11/ho-ho-h ... d-bonuses/
Skadden: https://abovethelaw.com/2023/11/skadden ... d-bonuses/ (DM from a friend confirmed the year '17 and '16+ bonus range point above)
Sidley: https://abovethelaw.com/2023/11/sidley-compensation-23/
DPW: see @nonequitypartner on Instagram

[Anonymous User]

Fried Frank match almost immediately after DPW news broke.

[Barry grandpapy]

Fried Frank match almost immediately after DPW news broke.

Thanks, FF and Norton Rose updates below.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer, Dechert, Hogan and Skadden match.

• Nov 30 Sidley adds year '15 to the scale and increases their base by $10k and the memo further notes additional bonuses for exceptional performance. Davis Polk and Fried Frank match. Norton Rose matches base, doesn't include bonus in memo (trash).

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000
**Sidley 2015 - $445,000

Current market bonus:***
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer; Hogan; Skadden; DPW; and Fried Frank.
**Sidley added $10k to '15 base salary and matched the bonus threshold for '16+.
***Skadden: As has been Skadden's practice, class of 2017+ bonuses are differentiated with a range of an additional $10k. So the class of '17 range is $105-115k and the class of '16+ range is $115-125k.

Below Market Firms:
-Norton Rose: matched base, no mention of bonus. Will remove if they confirm bonus.

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)
Hogan: https://abovethelaw.com/2023/11/ho-ho-h ... d-bonuses/
Skadden: https://abovethelaw.com/2023/11/skadden ... d-bonuses/ (DM from a friend confirmed the year '17 and '16+ bonus range point above)
Sidley: https://abovethelaw.com/2023/11/sidley-compensation-23/
DPW: see @nonequitypartner on Instagram
Fried Frank: https://abovethelaw.com/2023/11/fried-f ... sation-23/
Norton Rose: https://abovethelaw.com/2023/11/nortons ... important/

[Anonymous User]

Kirkland match

[Barry grandpapy]

Kirkland match

Thanks.

KE, Wilkie, Simpson and Mayer Brown updates below. KE memo didn't include bonus rows but it's KE and they always match with a multiplier on top.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer, Dechert, Hogan and Skadden match.

• Nov 30 Sidley adds year '15 to the scale and increases their base by $10k and the memo further notes additional bonuses for exceptional performance. Davis Polk, Fried Frank, KE, Wilkie, Simpson and Mayer Brown match. Norton Rose matches base, doesn't include bonus in memo (trash).

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000
**Sidley 2015 - $445,000

Current market bonus:***
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer; Hogan; Skadden; DPW; Fried Frank; Kirkland; Wilkie; Simpson; and Mayer Brown.
**Sidley added $10k to '15 base salary and matched the bonus threshold for '16+.
***Skadden: As has been Skadden's practice, class of 2017+ bonuses are differentiated with a range of an additional $10k. So the class of '17 range is $105-115k and the class of '16+ range is $115-125k.

Below Market Firms:
-Norton Rose: matched base, no mention of bonus. Will remove if they confirm bonus.

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)
Hogan: https://abovethelaw.com/2023/11/ho-ho-h ... d-bonuses/
Skadden: https://abovethelaw.com/2023/11/skadden ... d-bonuses/ (DM from a friend confirmed the year '17 and '16+ bonus range point above)
Sidley: https://abovethelaw.com/2023/11/sidley-compensation-23/
DPW: see @nonequitypartner on Instagram
Fried Frank: https://abovethelaw.com/2023/11/fried-f ... sation-23/
Norton Rose: https://abovethelaw.com/2023/11/nortons ... important/
Kirkland: https://abovethelaw.com/2023/11/kirkland-raises-23/
Wilkie: https://abovethelaw.com/2023/11/willkie ... sation-23/
Simpson: memo DM from a friend, will update with link when available
Mayer Brown: see @nonequitypartner on Instagram

[Barry grandpapy]

O'Melveny, V&E, Akin and Debevoise updates below.

Timeline:

• Nov 7 Milbank (the one true V1) raises the scale $10k across class years.

• Nov 28 Cravath rai$e$ Milbank $cale: same scale for juniors, +5k for year '20; +10k for year '19+.

• Nov 28 Paul Hastings and McDermott match Cravath.

• Nov 29 Paul, Weiss matches and notes another round of additional discretionary bonuses for outsized contributions to the firm to be paid in 2024; Cleary, Baker McKenzie, Proskauer, Dechert, Hogan and Skadden match.

• Nov 30 Sidley adds year '15 to the scale and increases their base by $10k and the memo further notes additional bonuses for exceptional performance. Davis Polk, Fried Frank, KE, Wilkie, Simpson, Mayer Brown, O'Melveny, V&E, Akin and Debevoise match. Norton Rose matches base, doesn't include bonus in memo (trash).

Current market base:
Class of 2023 - $225,000
Class of 2022 - $235,000
Class of 2021 - $260,000
Class of 2020 - $310,000
Class of 2019 - $365,000
Class of 2018 - $390,000
Class of 2017 - $420,000
*Class 2016+ - $435,000
**Sidley 2015 - $445,000

Current market bonus:***
Class of 2023 - $15,000 (pro-rated)
Class of 2022 - $20,000
Class of 2021 - $30,000
Class of 2020 - $57,500
Class of 2019 - $75,000
Class of 2018 - $90,000
Class of 2017 - $105,000
*Class 2016+ - $115,000

*Paul Hastings; Paul, Weiss; Cleary; Baker McKenzie; Proskauer; Hogan; Skadden; DPW; Fried Frank; Kirkland; Wilkie; Simpson; Mayer Brown; O'Melveny; V&E; Akin; and Debevoise.
**Sidley added $10k to '15 base salary and matched the bonus threshold for '16+.
***Skadden: As has been Skadden's practice, class of 2017+ bonuses are differentiated with a range of an additional $10k. So the class of '17 range is $105-115k and the class of '16+ range is $115-125k.

Below Market Firms:
-Norton Rose: matched base, no mention of bonus. Will remove if they confirm bonus.

Sources:
Milbank: https://abovethelaw.com/2023/11/milbank ... d-bonuses/
Cravath: https://abovethelaw.com/2023/11/cravath ... ssociates/
McDermott: https://abovethelaw.com/2023/11/first-f ... -announce/
Paul Hastings: https://abovethelaw.com/2023/11/paul-ha ... onus-2023/
Paul, Weiss: https://www.law.com/americanlawyer/2023 ... 1029110915
Cleary: see @nonequitypartner on Instagram
Baker McKenzie: https://abovethelaw.com/2023/11/baker-m ... onus-2023/
Proskauer: https://abovethelaw.com/2023/11/another ... -standard/
Dechert: https://www.law.com/americanlawyer/2023 ... ssociates/ (memo specifics to be confirmed but rumor is they cut 100 hours of pro bono counting towards the bonus for next year, deserves a Vault ding if true)
Hogan: https://abovethelaw.com/2023/11/ho-ho-h ... d-bonuses/
Skadden: https://abovethelaw.com/2023/11/skadden ... d-bonuses/ (DM from a friend confirmed the year '17 and '16+ bonus range point above)
Sidley: https://abovethelaw.com/2023/11/sidley-compensation-23/
DPW: see @nonequitypartner on Instagram
Fried Frank: https://abovethelaw.com/2023/11/fried-f ... sation-23/
Norton Rose: https://abovethelaw.com/2023/11/nortons ... important/
Kirkland: https://abovethelaw.com/2023/11/kirkland-raises-23/
Wilkie: https://abovethelaw.com/2023/11/willkie ... sation-23/
Simpson: memo DM from a friend, will update with link when available
Mayer Brown: see @nonequitypartner on Instagram
O'Melveny: https://abovethelaw.com/2023/11/oh-my-m ... es-raises/
V&E: see @nonequitypartner on Instagram
Debevoise: https://abovethelaw.com/2023/11/debevoi ... sation-23/
Akin: https://abovethelaw.com/2023/11/compens ... p-40-firm/

[Anonymous User]

All these bonuses and I still made more in 2021 working about the same.

[Anonymous User]

alleged GDC match

[Anonymous User]

Covington matched, in case there was any doubt about DC.

[Anonymous User]

Class of 2013 Counsel in corporate in NYC based V20. My salary was last changed to 425k in April 2022 and no raise since. Any data points on raises?

[Barry grandpapy]

Milbank matched and ATL finally has a consolidated list (link below) so this thread is moot. I'll post a final bump if any of the typical market firms don't match just to name and shame.

Cheers to the one true V1 for starting it out again this year.

https://abovethelaw.com/2023/12/biglaw- ... cker-2023/

[Anonymous User]

When Quinn dropping?

[Anonymous User]

Any news on Latham?

[Anonymous User]

When Quinn dropping?

QE associate here, not sweating it. I fully expect the bonus memo that we're expecting very soon will also include the base salary match.

[Anonymous User]

Anyone think the Cahill special bonuses on top of year end bonuses will do anything? Its sizable.