Big law associates are the worker bees of their firms, often working long days to meet annual targets of around 2,000 billable hours. The financial rewards are substantial: starting salaries at top tier law firms begin at $225,000 annually, with increases based on seniority. Additional year-end and special bonuses can range from $20,000 to $140,000. Despite the demanding schedule, these lucrative compensation packages motivate many associates to maintain the Big Law lifestyle, often sacrificing personal time.
The "Cravath scale," named after the prestigious firm Cravath, Swaine & Moore, is the benchmark for associate compensation. It follows a "lockstep" model, a seniority-based system that provides structured pay increases as lawyers gain experience. This approach ensures equitable salary progression and simplifies compensation management, though it doesn’t account for individual performance. Still, many firms favor this model for its ability to streamline operations and retain top early career talent.
CREDITS
Produced by Paul Detrick
Senior Producer: Andrew Satter
Story Editor & Executive Producer: Josh Block
Motion Graphics & Video Editing: Muriel Rebora
Reporter: Roy Strom
Featuring: Kent Zimmermann
Narrator: Adam Taylor
Thumbnail: Jonathan Hurtarte
Additional Editing: Chris Opfer
Thank You: Tatyana Monnay