Cravath Swaine & Moore has become the first US firm to grab the gauntlet thrown down by Sullivan & Cromwell, Legal Week can reveal, with the Wall Street leader matching the $30,000 (£15,477) end-of-year bonus for its first-year associates.
The move sees the firm increase its bonus rates for first year associates by 70%, rising from $17,500 (£9,028) in 2003 to $30,000 (£15,477), with senior associates expected to get around $50,000 (£25,795).
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]