Leading Biglaw Firm Is One Of The First To Match Cravath's New Salary, Bonus Scale
Biglaw compensation news is coming fast and furious, and now Paul Hastings, one of the most profitable firms in the world, is on board with raises and bonuses.
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:
- 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
Congratulations to everyone at Paul Hastings!
(Flip to the next page to read the full memo from the firm.)
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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.
