Cravath, Swaine & Moore said Monday that associates will receive year-end bonuses on the same scale as last year—beginning at $15,000 for first-years and up to $100,000 for senior associates—as well as an additional bonus on the same special bonus scale set by Davis Polk & Wardwell in September.
As legal observers expected, it wasn’t long before at least one other big firm matched. Paul, Weiss, Rifkind, Wharton & Garrison on Monday announced two bonuses for its associates on the same scale as Cravath.
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