It’s almost the holiday season, and that means it’s time for law firms to start awarding their annual year-end bonuses. And Cravath, Swaine & Moore is again setting the tone for what could be an uptick in law firm bonuses.
Cravath announced its year-end bonuses yesterday, and they are sizably larger than last year’s amounts. The firm’s senior-most associates, who joined the firm in 2004, will receive $60,000; last year, the group received $37,000. The most-junior associates will receive $10,000, a 33 percent increase from last year’s $7,500. Nonetheless, the year-end bonuses still aren’t up to par with pre-recession amounts; Cravath gave first-year associates $45,000 and senior associates $110,000 in 2007.