When it comes to Big Law bonuses it is Cravath and the so-called ‘Cravath Scale’ that sets the benchmarks that associates and the Big Law firms notice. Now Cravath had announced their bonuses with the firm’s email announcing the bonus below.
The 2022 year come in at $215,000 and the 2016 group take $400,000, matching the Baker McKenzie bonuses announced recently.
While there are some troubling times ahead for global law firms as transactional work and economic pressures bite, the majors like Cravaths and Baker McKenzie are solid enough to muscle it through the hard times, they hope.
So while times may not be quite what they were and law firms are getting into the mode of ‘releasing’ some lawyers, the bonus season remains a major drawcard for associates in most of the large law firms.