Elite American law firms have rushed to match the compensation benchmark established by Cravath Swaine & Moore, which announced year-end payouts reaching $140,000 for senior associates. McDermott Will & Schulte, Paul Weiss, Skadden, Davis Polk and numerous other major practices confirmed they would distribute identical amounts to their junior attorneys, with first-year lawyers receiving $20,000 and the most experienced associates collecting $115,000 plus special bonuses topping out at $25,000.
Several firms sweetened their offerings beyond the standard scale. Dechert promised extra premiums of up to 40 percent for attorneys logging exceptional billable hours, while Fried Frank associates could pocket an additional $34,500 based on performance metrics. Washington litigation specialist Wilkinson Skekloff went furthest, announcing bonuses exceeding $172,500 for veteran associates.
The generous distributions follow strong revenue growth across top-grossing firms, which expanded by an average of 12.4 percent through the first three quarters compared to the previous year, driven primarily by higher billing rates and increased client demand.
Several firms sweetened their offerings beyond the standard scale. Dechert promised extra premiums of up to 40 percent for attorneys logging exceptional billable hours, while Fried Frank associates could pocket an additional $34,500 based on performance metrics. Washington litigation specialist Wilkinson Skekloff went furthest, announcing bonuses exceeding $172,500 for veteran associates.
The generous distributions follow strong revenue growth across top-grossing firms, which expanded by an average of 12.4 percent through the first three quarters compared to the previous year, driven primarily by higher billing rates and increased client demand.
