Associate Bonus Watch: Cravath Announces Its 2016 Associate Bonuses
Biglaw’s compensation leader, Cravath Swaine & Moore, announced its 2016 year-end bonuses for associates this week, and the list has a familiar look, reports Above the Law.
“But there is, of course, one huge difference: back in June, Cravath raised base salaries for its associates, a move that led dozens of firms around the country to hike associate pay,” writes David Lat.
He added announced bonuses to new salaries and concluded that a first-year associate at Cravath will earn around $180,000 in total compensation.
“At the top of the scale, an eighth-year associate will earn almost $400,000 in total compensation ($280,000 for the first half of the year, $315,000 for the second half of the year, and $100,000 in bonus money), up from $380,000,” he writes.
Read the Above the Law article.
