Elite New York firm Cravath Swaine & Moore has kept its bonus static, with the firm matching last year’s offer of between $30,000 (£15,000) and $60,000 (£31,000).
The decision follows junior associates receiving a $20,000 (£10,000) increase in the fixed part of their salary earlier this year, meaning total remuneration has still risen. Total remuneration for first-year associates at the top Manhattan firm now stands at around $175,000 (£90,000). Milbank Tweed Hadley & McCloy announced on Friday (8 December) that it was going to offer the same bonus as last year.
