Cravath just set the going rate for Big Law associate bonuses, and other firms are following. At up to $115,000, the payout is the biggest ever, but some junior lawyers expected even more.
"No one's ecstatic about the new scale," said a corporate associate at an Am Law 10 firm in New York."Considering the amount of work that was done this year — should've been more." The associate and others who spoke with Insider asked to remain anonymous because they didn't have permission from their firms to speak.
"I've heard a lot of younger attorneys use the term 'sustainability,'" said Richard Rahaim, a recruiter at Howard, Williams & Rahaim in Florida."I've been doing this for 30 years, and this is the first time I've really seen that." With firms shrinking their offices, all but abandoning business travel, and laying off staff, profitability grew, too.
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