Cravath pay-out kicks off bonus war as NY associates' pay packets soar
A raft of New York law firms are following Cravath Swaine & Moore's decision to pay a special 'one-off' bonus of up to $65,000 (£31,200) to associates and counsel. As reported by Legal Week sister publication The New York Law Journal, Cravath set the ball rolling last Monday (29 October), announcing that associates will pocket a one-off payment of between $10,000 (£4,800) and $50,000 (£24,000), in addition to their standard year-end bonus.
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