Cravath, Swaine & Moore offices in New York City
Cravath, Swaine & Moore has increased pay for senior associates, according to Law.com reporting, surpassing the Davis, Polk & Wardwell scale that was announced last Tuesday for fourth-year associates and above, with the most senior associates getting $18,500 more.
Davis Polk’s scale had already been a one-up on the Milbank raises announced earlier this year, for fourth-year associates and above. After many firms matched Davis Polk last week, Cravath’s move raises the question of whether the firms that pay market salaries will now move their pay scales up again en masse.
The scale is as follows:
| Cravath | Davis Polk | Milbank (January) | |
| Class of 2021 | $215,000 | $215,000 | $215,000 |
| Class of 2020 | $225,000 | $225,000 | $225,000 |
| Class of 2019 | $250,000 | $250,000 | $250,000 |
| Class of 2018 | $295,000 (+$1,500) | $293,500 | $285,000 |
| Class of 2017 | $345,000 (+$10,000) | $335,000 | $315,000 |
| Class of 2016 | $370,000 (+$9,500) | $360,500 | $350,000 |
| Class of 2015 | $400,000 (+$19,000) | $381,000 | $370,000 |
| Class of 2014 | $415,000 ( +$18,500) | $396,500 | $385,000 |
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