Aebra Coe

Even as mergers and acquisitions activity has remained relatively "soft," large and midsize law firms have experienced a substantial increase in demand over the last year at twice the historic average rate of increase, according to the co-author of a Thursday report on U.S. law firm financial results.

When Cravath Swaine & Moore LLP matched Milbank's 2024 bonuses with its own, the storied New York firm did not hand associates a single lump sum with the total amount, but instead chose to separate out year-end bonuses from special bonuses.

Longtime legal compensation leader Cravath Swaine & Moore LLP has reportedly announced year-end and special bonuses for its associates in line with those offered by peer law firm Milbank LLP over the summer and earlier this month.

Longtime legal compensation leader Cravath Swaine & Moore LLP has reportedly announced year-end and special bonuses for its associates in line with those offered by peer law firm Milbank LLP over the summer and earlier this month.

Following the news Tuesday that Cravath Swaine & Moore LLP will pay associates year-end and special bonuses in line with those handed out by Milbank LLP this year, the firms' peers have begun to respond, with swift matches Wednesday by Paul Hastings LLP and McDermott Will & Emery LLP.

During the two decades Peter Kalis served as chairman and managing partner of K&L Gates, from 1997 to 2017, the law firm grew from a primarily Eastern Seaboard firm to one with offices around the globe, with annual revenue that ballooned by 700%.

During the two decades Peter Kalis served as chairman and managing partner of K&L Gates, from 1997 to 2017, the law firm grew from a primarily Eastern Seaboard firm to one with offices around the globe, with annual revenue that ballooned by 700%.

As the number of U.S. law firm combination announcements this year ticks up over 90 with the newly announced merger between Herbert Smith Freehills and Kramer Levin, these four leaders tell Law360 Pulse they have no interest in entertaining such talks.

In the span of four years, Kramer Levin co-managing partner Howard Spilko went from "very happy" with the firm's geographical footprint to announcing a combination with a more-than-2,000-lawyer global giant. Here, Law360 Pulse looks at the increasing headwinds for smaller law firms that led to that change in position.

Milbank LLP announced Monday that it will hand its associates year-end bonuses ranging from $15,000 to $115,000 depending on seniority, numbers that nearly align with bonuses the firm and its peers handed out last year.