Elite New York firm Cravath Swaine & Moore has announced its year-end bonus, with the firm matching last year’s offer of between $30,000 (£15,000) and $60,000 (£31,000).

The firm has now kept its bonus static for the last two years but the decision follows associates receiving a $20,000 (£10,000) increase in the fixed part of their salary earlier this year, meaning total remuneration has still risen.