As the year draws to a close, major law firms across the country, collectively known as Biglaw, have commenced their annual bonus season, signaling a robust reward system for associates after a year of diligent work. This year’s bonus structure largely mirrors the previous year, an approach that might seem predictable but is deemed suitable given the looming economic uncertainties that suggest a potential recession.

In a nod to tradition and market expectations, Cravath, Swaine & Moore LLP has once again set the bar, initiating the bonus rollout with both year-end and special bonuses. While the move is seen as conservative against the backdrop of an unstable economy, it reflects a cautious optimism within the sector. Associates across various firms are watching closely, hoping other firms will follow suit without significant deviations that could unsettle the market standard.

Beyond the financial updates, the legal community is also buzzing with high-profile legal dramas that underscore the dynamic nature of the profession. Notably, the legal world has cast its eyes on Lindsey Halligan after her surprising missteps in the James Comey case, which saw a premature dismissal by the judge, sparking widespread professional critique and public fascination.

Adding to the legal theatrics, Judge Jerry Smith’s extensive dissent in the Texas redistricting case, marked by controversial conspiracy theories, has become another focal point. His detailed argument, sprawling over numerous pages, has been both criticized and marveled at for its audacity and the polarizing opinions it presents.

Amidst these significant professional milestones and judicial controversies, the legal community is also engaging in lighter, seasonal discussions, such as debating the best Thanksgiving side dishes. This blend of serious economic considerations, high-stakes legal outcomes, and communal holiday preparations paints a vivid picture of the current atmosphere within Biglaw as the year ends.

As bonus season progresses, all eyes will be on how other firms respond, potentially setting new precedents or stabilizing the market in response to broader economic signals. Meanwhile, the legal industry continues to juggle the rigors of high-profile cases and the personal touch of holiday traditions, making this period a uniquely busy time for legal professionals across the spectrum.