Even more than usual, money is on the minds of thousands of young lawyers this month. On Monday, Cravath, Swaine & Moore circulated an internal memo setting associate bonuses according to the same scale set last year by Davis Polk & Wardwell. First- and second-year associates will receive up to $15,000, while senior associates can make as much as $100,000.
Paul, Weiss, Rifkind, Wharton & Garrison, Skadden, Arps, Slate, Meagher & Flom and Milbank, Tweed, Hadley & McCloy each quickly followed suit, matching Cravath’s rate. Skadden said that high-performing senior associates are eligible for an extra 10 percent above the $100,000 bonus, according to Above the Law.
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