Cravath Swaine & Moore has revealed its top-level associates will take home bonuses of $100,000 (£67,000) this year as it became the first of the US firms to announce its annual bonuses.

In an internal announcement revealed today, the firm laid out its scale for bonuses paid to all levels of associates.

The US firm will pay out $15,000 (£10,000) to its most junior associates and $100,000 (£67,000) to those who qualified in 2007 and 2008.

The rates were announced via a memo to staff at the firm that said they would be paid on 18 December.

Other US firms are expected to follow suit and match Cravath's scale as the announcement returned the Wall Street firm to its traditional position of setting the trend for US firms' associate bonuses.

Last year, Simpson Thacher broke tradition and announced its associate bonuses in November, ahead of Cravath.
Cleary Gottlieb Steen & Hamilton, Milbank Tweed Hadley & McCloy and Paul Weiss Rifkind Wharton & Garrison followed Simpson Thacher's lead.

At all four firms, associates with six years experience saw the largest increase, taking home $85,000 (£54,100) in bonuses, 113% up on 2013′s $40,000 (£25,500) reward.

Those with five years' experience received 106% more than the in 2013, with a bonus package of $70,000 (£44,600).

Cravath 2015 associate bonuses

Class of 2015 – $15,000 (prorated)
Class of 2014 – $15,000
Class of 2013 – $25,000
Class of 2012 – $50,000
Class of 2011 – $65,000
Class of 2010 – $80,000
Class of 2009 – $90,000
Class of 2008 – $100,000
Class of 2007 – $100,000