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Cravath announces associate bonus combo, putting market on notice

Cravath, Swaine & Moore has told associates they will receive a year-end bonus of up to $100,000, matching the firm’s 2019 scale, plus a special 2020 bonus of up to $40,000, matching bonuses offered by Davis Polk & Wardwell and others in September, according to an internal memo posted on legal industry blog Above the Law on Monday.

The elite Wall Street law firm’s bonuses will be paid on Dec. 18, according to the memo. The bonuses, combined, will total $22,500 (pro-rated) for the class of 2020; $22,500 for the class of 2019; $35,000 for the class of 2018; $70,000 for the class of 2017; $92,500 for the class of 2016; $112,500 for the class of 2015; $127,000 for the class of 2014; and $140,000 for the class of 2013, the memo said.

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