Cravath, Swaine & Moore Is Giving Its Associates Two Year-End Bonuses
Cravath, Swaine & Moore has raised the salary bar for law firm associates in Manhattan. The firm has announced that it will award a special one-time bonus for associates in addition to the traditional year-end bonus that the firm, like most others, already pays. All but the newest associates will receive $10,000 to $50,000, depending on seniority. This year, Simpson Thacher & Bartlett, raised first-year associate salaries from $145,000 to $160,000. Other firms quickly matched that.
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