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This decision coincides with the. The new base salaries will be paid beginning in january 2024, and range from $225,000 for class of 2023 associates to $425,000 for those in the class of 2016, according to a firm memo.
The Upward Salary Revision, Effective From January 2024, Spans Across The Firm’s Hierarchy, Reaching Up To $425,000 For More Tenured Associates.
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Cravath Associates Will Be Paid On A Seniority Based Scale That Now Ranges From A Base Salary Of $225,000 To $420,000, According To A Firm Memo Posted By Above.
Milbank, the law firm that spurred the latest associate salary hike, grew its revenue by 17.8% to $1.514 billion in 2023 while its profits per equity partner jumped.
First Big Law Salary Scale Bump Since 2018.
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On tuesday, milbank said it would give associates in each class a $10,000 raise in 2024, with the most junior class making $225,000.