Cravath’s have largely acted as the barometer for the profitability of the legal business and this year things are looking decidedly ‘average’ if the levelling-off of year-end bonuses are anything to go by.
The venerable New York law firm Cravath, Swaine & Moore LLP on Monday welcomed its lawyers back from the holiday break with what could be read as a sobering message on the financial state of the legal economy. The firm said it would keep its year-end bonuses to associate attorneys mostly at 2010 levels. The […]