Top Law Firms Announce Salary Increases and Bonuses Matching Cravath Scale

Baker McKenzie, Paul Hastings, and Paul, Weiss raise associate salaries and year-end bonuses, with additional discretionary bonuses planned for 2024.

Baker McKenzie, Paul Hastings, and Paul, Weiss have all announced salary increases and year-end bonuses for their associates, matching the scale set by Cravath.
The new salary scale for associates ranges from $225,000 for the class of 2023 and 2024 to $435,000 for the class of 2016 and earlier.
Year-end bonuses for eligible associates will be paid on February 9, ranging from $15,000 for the class of 2023 to $115,000 for the class of 2016 and earlier.
Paul, Weiss has also indicated that there will be a round of additional discretionary bonuses in 2024.
These announcements come as Biglaw firms rush to match the new market compensation and bonuses set by Cravath.