Given all the different flavors of “Milbank matches,” I propose we standardize the terminology:
FullBanked: Full Milbank match, including retroactivity. The real deal.
AlmostBanked: Matches the Milbank scale, but no retroactivity.
NoBanked: Matches junior associate salaries, then black-boxes the rest. Good luck finding out what you’re getting.
So next time your firm announces a match, can we please start posting headlines like:
“S&C just FullBanked”
“Cooley AlmostBanked”
“Troutman Pepper Locke NoBanked its senior associates”
No more clicking into a “Milbank match” post only to discover three paragraphs later that it’s not actually a full match.
Let’s make this a thing.