Simpson Thacher & Bartlett has upped the ante in the New York bonus season by matching Sullivan & Cromwell and Cravath Swaine & Moore’s $30,000 (£15,477) bonus rate, while surpassing the pair in awards for senior associates.

Simpson Thacher confirmed on Tuesday (7 December) that it was to pay first-year associates $30,000 (£15,477) as an end-of-year bonus, a 70%, increase from last year’s $17,500 (£9,028).