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After weeks of mulling over the raises Milbank introduced to the market at the beginning of the month, it looks like Biglaw — or at least the top of Biglaw — has coalesced around a new compensation grid. And all it took was Cravath weighing in (with higher base salaries for midlevel and senior associates).
Cleary Gottlieb, a firm placing 30th on the Am Law 100 with $1,393,989,000 in gross revenue last year, has announced their raises and year-end bonuses. As expected, the Biglaw firm has matched the top of the market in both base compensation and bonuses.
The salary grid at Cleary is as follows:
The full memo is available below.
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
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