Ed.
note:
Welcome
to
our
daily
feature,
Quote
of
the
Day.
Corporate
and
particularly
M&A
has
been
a
little
softer
this
year
than
people
thought,
but
that
being
said,
many
firms
are
very
busy
and
I
think
bonuses
are
always
a
way
to
reward
associates.
[Bonuses
are
also
a
way
to]
further
separate
the
most
profitable
firms
that
are
paying
associates
market
from
those
firms
that
are
either
paying
market
but
don’t
necessarily
have
the
same
profitability
or
the
firms
that
aren’t
necessarily
paying
market
at
all.
—
Stephanie
Biderman,
a
partner
in
the
associate
recruiting
practice
at
Major
Lindsey
&
Africa,
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.
Thus
far,
three
other
firms
have
announced
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
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questions,
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