Business of Law

BigLaw Bonus Season Begins as Cravath Announces Range of $7,500 to $35,000


Kicking off a keenly anticipated BigLaw bonus season in which associates–and partners–at competing firms wait and watch to see how others are doing, Cravath Swaine & Moore has announced end-of-year salary supplements starting at $7,500 for those in its first-year associate ranks before September.

At the top of the scale, seventh-year associates are being paid $35,000. Although there is no billable hours requirement, the bonus is “dependent on suitable performance at that attorney’s experience level,” explains the firm in a memo (PDF) provided to the Wall Street Journal Law Blog. However, “virtually all of our associates will receive the full bonus,” the memo says.

Only a few years ago, first-year associates at Cravath were getting $35,000 bonuses, as an earlier ABAJournal.com post notes.

This year’s extra ante will be paid on Dec. 10.

Hat tip: Above the Law

Updated at 4:52 p.m. to link to prior ABAJournal.com coverage:

Previous:
Ingmar Guandique Convicted in Chandra Levy Murder Case

Next:
With Foreclosure Co. Layoff Tally at 900, Lawyer David Stern Doffs CEO Hat, Returns to Law Firm


We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Commenting is not available in this channel entry.