Cravath, Swaine & Moore has raised its starting salaries for first year associates to $180,000, the first time the elite New York law firm has increased base salaries for its junior lawyers since 2007, a move that signals increased competition for a shrinking pool of top law graduates.
The raise constitutes a $20,000 increase from the previous year and is effective July 1, according to an internal firm memo provided to Big Law Business by a source at Cravath on the condition of anonymity.
The salary news was first reported by Above the Law .
The memo provides the full associate ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.