Biglaw Firm Starts The Weekend Off On The Right Foot By Announcing Raises, Bonuses
It's Friday, Friday, associates getting paid on Friday!
One by one, Biglaw bonuses and raises continue to be announced. Wondering when your firm may make its move? Some large law firms are still deciding if they can “afford” to raise salaries (hint: they very likely can), but we certainly hope your big payday will be coming soon.
In the meantime, we’ve now confirmed that Kramer — a firm that brought in $421,443,000 gross revenue in 2022, putting it at No. 102 in 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, effective January 1, 2024:
- 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
Kramer Levin 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 15, 2024:
- 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
Members of the Class of 2023 will receive an annualized bonus of $15,000, prorated to October 2, 2023.
Congratulations to everyone at Kramer Levin!
(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!
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.
