“Cravath Effect” Takes Place with Several Firms Upping Salary Rates
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)


Summary: Cravath Swaine & Moore was the first to make the move, but other law firms wasted no time in following suit and raising their associate salary rates to match.

Cravath Swaine & Moore paved the way with other law firms quick to follow in raising associate salaries. Only a week ago Cravath announced their first major salary raise in nearly a decade to $180,000 for first year associates. Now dozens of other law firms are announcing they will keep up with the rate.


The first firm to match the new pay scale was California boutique Hueston Hennigan, reportedly just four hours after Cravath’s announcement. Other smaller law firms like Ahmad, Zavitsanos, Anaipakos, Alavi & Mensing from Houston are considering matching the $180,000 salary as well. They hired two recent graduates from the University of Texas and one from Harvard.

The next law firm to follow Cravath’s example was Milbank Tweed. Less than a day after the first announcement, they released a memo to their associates. Milbank chair Scott Edelman told Legal Week, “We are fortunate enough to have a terrific group of associates and we want them to have compensation consistent with top forms. It’s as simple as that.”

Houston’s largest law firm, Vinson & Elkins, joined the ranks a few days later, increasing their first year associate pay by $20,000 to match the rest of the law firms. The firm has roughly 650 lawyers, 300 of which are in Houston. They are expecting 65 incoming lawyers from the class of 2016.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!

Other Biglaw firms that have announced their intentions to match are Winston & Strawn; Willkie Farr & Gallagher; Paul Weiss Rifkind Wharton & Garrison; Cahill, Gordon & Reindel; and Weil Gotshal & Manges. Kirkland & Ellis is rumored to follow as well.

Do you think more small law firms will try to keep with the rates? Tell us why in the comments below.

To learn more about Cravath’s announcement, read Firms Follow Cravath’s $180,000 Base Pay Scale.



Interesting Legal Sites You May Like




Search Now

General Municipal Law Attorney with land use experience


Oakland office of our client seeks general municipal law attorney with experience advising public ag...

Apply Now

Mid-level Restructuring Attorney with bankruptcy experience


Washington, D.C. office of our client seeks mid-level restructuring attorney with 4-6 years of exper...

Apply Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Attorney with 3-5 years of civil litigation experience


Merrillville office of our client seeks attorney with preferably 3-5 years of civil litigation exper...

Apply Now


Civil & Business Litigation / Transactional Attorney


Law firm with primary emphasis in Business & Civil Litigation and transactional work, seeks confiden...

Apply now



Boutique East Bay litigation defense firm is seeking a junior to mid-level attorney. Candidates for ...

Apply now

Family Law Paralegal


The right person for this job will grasp basic and complex divorce and family law issues, have stron...

Apply now

Products Liability & Mass Tort Litigation Associate


The candidate must have 1- 5 years of civil litigation experience, preferably with some background i...

Apply now

Most Popular


To Top