According to a memo viewed by Above the Law, eligible associates at the firm in the classes of 2023 through 2021 will receive raises in line with the Cravath scale: Class of 2023: $225,000 Class of 2022: $230,000 Class of 2021: $260,000
On top of this compensation model, we're told that just like last year's streamlined model, the firm's bonus scale rewards only the highest performers - those who have billed 1950 or more hours - with market rates. Once again, the firm will award additional bonus money to its highest billers (i.e., those with 2250+ hours).
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