Cravath, Swaine & Moore and Paul, Weiss, Rifkind, Wharton & Garrison have become the latest elite law firms to jump to $205,000 for first-year associates, helping to solidify the top market for associate pay.

A series of big law firms, such as Goodwin Procter, Willkie Farr & Gallagher, Paul Hastings and Morgan Lewis & Bockius, followed in confirming their own increases in associate pay. More than two dozen firms have now raised associate pay since Milbank, and then Davis Polk & Wardwell, set a new market salary scale.