2026 BigLaw Bonus Tracker: Special Bonus Amounts, Year-End Timeline & Tax Planning

Updated October 5, 2026. Milbank set a 2026 special bonus in July; Cahill matched in October; the year-end bonus is expected November–December. Here is what has been announced, when to expect the rest, and how to maximize your after-tax take-home before the check arrives.

Two Separate Bonus Events in 2026

BigLaw has historically run one annual bonus cycle, announced in November by a market leader and matched by peers within days. In recent years, firms have added mid-cycle "special bonuses" on top. 2026 has two distinct events:

The 2026 special bonus was announced by Milbank in July 2026 alongside its associate salary scale increase. It is separate from — and in addition to — the year-end cycle. Amounts range from $6,000 to $25,000 depending on class year. As of October 2026, Cahill Gordon & Reindel has matched; other AmLaw firms are expected to follow.

The 2026 year-end bonus is the annual cap-of-the-year payment, historically announced in November by Cravath or another market leader. It has not been set as of this writing. For context, the 2025 combined year-end + special announcement came November 18, 2025 and totaled $26,000–$140,000 by class year.

2026 Special Bonus Scale (Milbank, July 2026)

¹ The 4th-year amount was not separately disclosed in available announcements. $20,000 is interpolated from confirmed Y3 ($15,000) and Y5+ ($25,000) figures. Verify with your firm or Bloomberg Law coverage as additional firms publish their match terms.

Firms that have matched as of October 2026: Milbank (announced), Cahill Gordon & Reindel (matched October 2026). Additional matches expected.

2025 Year-End Bonus Reference Scale

Cravath announced the following combined year-end + special bonus on November 18, 2025. Most AmLaw 50 firms matched within two weeks. These are the bonuses paid in November–December 2025 and in spring and summer 2026 installments. The 2026 year-end scale will be a separate announcement.

When to Expect the 2026 Year-End Bonus Announcement

BigLaw year-end bonuses follow a predictable sequence:

• Market leader announces. Historically Cravath has set the scale, though Milbank has taken the market leadership role in recent cycles. The announcement typically arrives mid-to-late November.
• AmLaw 50 firms match within days. Most top-50 firms announce a match within 24–72 hours. AmLaw 51–200 firms follow within one to two weeks.
• Payments are installment-based. Associates receive the bonus in spring, summer, and year-end tranches over the following 12 months — though the full announcement comes at once.

If the 2026 cycle follows the 2025 pattern, expect the announcement in November 2026. Am Law 100 profits-per-partner averaged $3.59 million in 2026 (+14% over 2025), which signals a favorable environment — but the scale is a market-leadership decision, not a formula, and the date and amounts can vary.

Calculator: Estimated Take-Home After Withholding

Your firm withholds supplemental wages at a flat 22% federal rate — not your actual marginal rate. This calculator estimates what arrives in your account after federal withholding, state withholding, and Medicare taxes. See the section below for the gap you may owe at filing.

² IRS Publication 15-T (2026): 22% flat withholding rate on supplemental wages under $1,000,000 per year. Wages over $1M are withheld at 37%.

³ State rates (approximate for 2026 high-income earners): NYC = 10.5% NY State + 3.9% NYC ≈ 14.5% combined; NY State only ≈ 9.9%; California = 10.23% (FTB supplemental withholding rate); DC = 10.75%; TX/FL = 0%.

⁴ Standard Medicare 1.45% + 0.9% Additional Medicare Tax (IRC §3101(b)(2)). The additional 0.9% applies when wages exceed $200,000. At BigLaw base salaries ($235,000–$455,000), most associates cross the $200,000 threshold on salary alone before any bonus is paid. Source: IRS Additional Medicare Tax Q&A.

The 22% Withholding Gap and Your April Tax Bill

Federal supplemental wages are withheld at a flat 22%, regardless of your total income. For BigLaw associates earning $235,000–$580,000 in combined salary and bonuses, the actual federal marginal rate on the bonus falls in the 32–35% range — a gap of 10–13 percentage points. What this looks like in dollars:

State taxes compound the picture. NYC residents pay approximately 14.5% combined state and city tax on the bonus — but only a portion may be withheld, depending on how your employer handles supplemental wages. California's flat 10.23% supplemental withholding rate is one of the highest in the country but still below the 13.3% top marginal rate for very high earners.

What to Do Before the Bonus Arrives

The highest-value moves happen before the check — not after. In order of impact:

1. Confirm your 401(k) hits $24,500. If your contributions are short of the 2026 limit, increase your deferral percentage now — plans typically only adjust forward, not retroactively. Catch-up is $8,000 if you are 50 or older; the SECURE 2.0 super catch-up at ages 60–63 is $11,250. Bonus paychecks can accelerate the last contributions. 401(k) guide for BigLaw →
2. Max your HSA if you are on an HDHP. 2026 limits are $4,400 (self-only) and $8,750 (family) per IRS Rev. Proc. 2025-19. You can contribute through April 15, 2027, for the 2026 tax year. HSA strategy guide →
3. Harvest tax losses before December 31. Realized losses offset the additional income the bonus creates. The 30-day wash-sale window means you need to act at least a month before year-end if you plan to repurchase the same security. Year-end tax planning hub →
4. DAF contribution if you give to charity. A Donor-Advised Fund contribution of appreciated stock or cash is deductible in the year made. Bunching two years of giving into a high-income year — like a year with a large bonus — maximizes the deduction value. Charitable giving strategies →
5. NQDC election if you are an equity partner (deadline: December 15). The election governs how much of your 2027 compensation to defer — not the 2026 bonus directly, which was already locked in by your December 2025 election. But the decision requires knowing your tax situation now. Make the election deliberately rather than on autopilot. NQDC election 2026 guide →