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US law firms hand junior lawyers ‘special’ bonuses after dealmaking revival

Senior associates in line to take home more than $550,000 at top New York firms
A view of Hudson Yards in New York. Milbank, the first mover on bonuses, is based in the district

US law firms have handed out a bumper round of bonuses to junior lawyers for 2024, as a pick-up in dealmaking lined the industry’s coffers and stoked a renewed war for talent.

Top New York law firms including Milbank and Cravath, Swaine & Moore paid out year-end bonuses worth between $15,000 and $115,000 for the second year running.

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