Milbank LLP

Milbank LLP is a New York-headquartered law firm with approximately 1,030 attorneys and offices in key financial centers including London, Tokyo, Sao Paulo, and Hong Kong. Founded in 1866, Milbank has built a distinctive identity around project finance, leveraged lending, and capital markets, areas where it consistently ranks at or near the top of the market. The firm generates profits per partner of approximately $7.6 million and is known for setting compensation benchmarks that ripple across the industry.

Milbank holds Band 1 rankings in Chambers USA for Project Finance, Banking & Finance, Restructuring, and Capital Markets. The firm's project finance practice is widely regarded as the strongest in the world, advising on infrastructure, energy, and transportation financings across six continents. Its banking and finance team handles the most complex leveraged lending transactions, and the restructuring practice is regularly involved in major Chapter 11 cases. Milbank's capital markets group works closely with its finance practices on high-yield offerings, investment-grade debt, and structured products.

Milbank uses a free-market assignment system. Associates describe the culture as supportive and down-to-earth, noting that the environment is collegial and that colleagues have each other's backs. The firm has dedicated pro bono attorneys who proactively recruit associates for projects, including civil rights class actions and work with organizations like the Legal Aid Society. Chambers Associate has recognized Milbank for pro bono and quality of life in past surveys. Training occurs primarily on the job, with a steep but rewarding learning curve, project finance associates in particular report gaining substantial client-facing responsibility by their fifth year. The summer class is approximately 117 associates.

Milbank made headlines in 2018 when it raised associate base salaries, triggering a market-wide compensation increase that most of BigLaw matched. Notable alumni include former World Bank President John J. McCloy, former CIA Director William Webster, and numerous leaders in international finance. The firm's dominance in project finance gives it a unique positioning among elite New York firms.