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Ever since Milbank announced associate raises last Thursday and then Davis Polk came over the top of those numbers, Biglaw watchers have been waiting and wondering — what will Cravath do?
Now, Cravath isn’t the only firm that can push the market forward (see, e.g., Milbank and Davis Polk), but they’re definitely big players. And after the glut of raises announced this week (we are already at 30+ firms on the new scale), whatever Cravath decides is probably the last chance to move the compensation grid. Like in 2018, when they came over the top of that year’s Milbank raises for midlevel and senior associates. So in 2021, will Cravath play spoiler again, or was that role already taken by Davis Polk’s announcement?
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Well, they’re content to match the existing scale, effective July 1:
Congrats to Cravath associates on the raise! You can read the firm’s full memo on the next page.
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Raises”). 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, and host of The Jabot podcast. 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).