Despite 2023 Setbacks, Law Firm Will Match Pay & Bonus Scale

// When Cadwalader incurred staff and attorney layoffs and deferred its incoming associate class, you might have expected the firm to be cagey about the prospect of jumping to match the new normal in compensation.

But Cadwalader, 84th on the Am Law 200 with over half a billion in gross revenue last year, is stepping up to the challenge.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-top-300x250" ); }); Class Bonus Class of 2023 $225K Class of 2022 $235K Class of 2021 $260K Class of 2020 $310K Class of 2019 $365K Class of 2018 $390K Class of 2017 $420K Class of 2016 & 2015 $435K

While these new salaries will be effective on January 1, they won’t be reflected until the last pay period of February. After the holidays and even Valentine’s Day, but just in time for all their National Frozen Food Day shopping.

On the bonus front, Cadwalader followed suit as well:

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The wrinkle here is that associates billing 2200+ are eligible for a 120 percent bonus. The memo does not specify when the bonuses will hit associate accounts, but notes that it will be “no later” than that last pay period in February.

Full memo on the next page.

Please help us help you when it comes to salary news at other firms. As soon as your firm’s memo comes out, please email it to us (subject line: “[Firm Name] Salary”) or text us (646-820-8477). 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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Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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2023 Associate Salary Increase, Associate Bonus Watch 2023, Biglaw, Bonus News Alerts, Bonuses, Cadwalader, Money