Leading Biglaw Firm Is One Of The First To Match Cravath’s New Salary, Bonus Scale

// Cravath announced its new salary scale and bonuses earlier this afternoon, and Biglaw firms are finally weighing in with their own compensation updates.

We’ve now confirmed that Paul Hastings — which reported $1,665,983,000 in gross revenue and profits per partner of $4,891,000 in 2022 according to the most recent Am Law 100 — has chosen to use the Cravath scale for its compensation increases, meaning these are the salaries associates at the firm will see, as of February 1:

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• Class of 2023 – $225,000
• Class of 2022 – $235,000
• Class of 2021 – $260,000
• Class of 2020 – $310,000
• Class of 2019 – $365,000
• Class of 2018 – $390,000
• Class of 2017 – $420,000
• Class of 2016+ – $435,000

Paul Hastings is also matching the Cravath bonus scale, and this is what year-end bonuses will look like at the firm, to be paid on February 9:

• Class of 2023 – $15,000
• Class of 2022 – $20,000
• Class of 2021 – $30,000
• Class of 2020 – $57,500
• Class of 2019 – $75,000
• Class of 2018 – $90,000
• Class of 2017 – $105,000
• Class of 2016+ – $115,000

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Congratulations to everyone at Paul Hastings!

(Flip to the next page to read the full memo from the firm.)

Remember everyone, we depend on your tips to stay on top of compensation updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Bonus/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.

And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for your help!

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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

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