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The end of the calendar year is the season for bonuses in the legal field. This year, lawyers at many firms received a pay increase in addition to year-end bonuses, a move triggered by the ongoing competition for top legal talent. As reported in The American Lawyer, a number of top firms, including Cravath, Swaine & Moore, and Milbank, gave out salary increases of as much as $20,000 for senior associates. The increases came in addition to year-end bonuses that ranged between $15,000 and $115,000. The trend in salary increases follows a familiar pattern in which raises offered by a market mover have a ripple effect throughout the field.
Legal Services
January 29, 2024, 4:00 AM