Cravath, Swaine & Moore on Monday announced year-end associate bonuses that for the most junior lawyers were at best half of what they received last year. Cravath's announcement kicks off the bonus season among New York law firms, but the head of one major law firm said he would expect a negative reaction from clients on "any bonuses being paid in the current economy." He said he expected that a decision to pay bonuses "would have been deferred for some number of months."
November 03, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Cravath, Swaine & Moore on Monday announced year-end associate bonuses that for the most junior lawyers were at best half of what they received last year.
Associates beginning their second year in January will receive a $7,500 bonus, down from $17,500 last year, according to a memorandum obtained by the New York Law Journal. Senior associates will earn $30,000, the same as in 2008.
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