Ed.
note:
Welcome
to
our
daily
feature,
Quote
of
the
Day.
Corporate,
from
a
lateral
associate
standpoint,
is
so-so,
unless
you’re
talking
about
anything
related
to
finance,
and
therefore
I
don’t
think
firms
will
be
compelled
to
issue
a
summer
bonus
unless
another
New
York
firm
like
Cravath
or
Sullivan
&
Cromwell
follows
Milbank.
I
think
you
need
a
second
shoe
to
drop.
—
Matt
Schwartz,
a
recruiter
with
Garrison,
in
comments
given
to
the
American
Lawyer,
concerning
Milbank’s
decision
to
offer
summer
bonuses
to
associates
and
counsel
globally.
Milbank’s
bonuses
range
from
$6,000
to
$25,000,
depending
on
class
year.
While
no
other
Biglaw
firms
have
matched,
thus
far,
three
other
firms
have
announced
their
own
summer
bonuses:
Vartabedian
Hester
&
Haynes
($5,000),
Otterbourg
($15,000),
and
Hueston
Hennigan
($10,000
to
$30,000).
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to
email
her
with
any
tips,
questions,
comments,
or
critiques.
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