Last updated: 19 October 2026. This guide covers base salaries and bonuses for associates at large US law firms, mainly in New York, using figures announced by the firms and reported by the legal press. It is general information, not legal, financial or career advice.
Short answer: The Cravath scale is the lockstep pay grid that elite US law firms use for associates, named after Cravath, Swaine & Moore. Since 1 July 2026 the market rate set by Milbank runs from $235,000 for first-years to $455,000 for eighth-years. Cravath’s own published range is still $225,000 to $420,000, and 2026 year-end bonuses have not been announced yet.
Key takeaways
- Milbank raised associate base pay by $10,000 to $20,000 from 1 July 2026, taking first-year salaries to $235,000 and eighth-year salaries to $455,000.
- McDermott Will & Schulte, Quinn Emanuel, Katten and Seward & Kissel were among the firms reported to have matched; Cravath’s careers page still lists $225,000 to $420,000 for New York associates.
- The last year-end bonuses, announced by Cravath on 19 November 2025, ranged from $15,000 plus a $6,000 special bonus for first-years to $115,000 plus $25,000 for the most senior class.
- As of 19 October 2026, no firm has announced a 2026 year-end bonus scale. Milbank paid special bonuses of $6,000 to $25,000 by 31 August 2026.
What is the Cravath scale?
“Cravath scale” is the industry’s shorthand for the salary and bonus grid paid to associates at the most profitable US law firms. Pay is lockstep: every associate in the same class year gets the same base salary, whatever their practice group, and it rises each year until the associate becomes a partner, counsel or leaves.
The name comes from Cravath, Swaine & Moore, the New York firm that for decades set the benchmark that other firms then matched. In June 2016, for example, Cravath raised first-year pay from $160,000, the rate since January 2007, to $180,000, and the rest of Big Law followed. Since 2018, however, Milbank has usually moved first, and some commentators now talk about a “Milbank scale”. The phrase “Cravath scale” is still used for the market rate whoever sets it. For pay outside Big Law, see our guide to lawyer salaries in 2026.
What are Big Law associate salaries in 2026?
On 2 June 2026 Milbank announced raises of $10,000 to $20,000, effective 1 July 2026, as reported by Bloomberg Law. McDermott Will & Schulte matched the same day. The table shows the new market scale, as published in McDermott’s matching scale, alongside the previous scale set in late 2023.
| Class year | Previous base (late 2023 to June 2026) | New base (from 1 July 2026) | Increase |
|---|---|---|---|
| 1st year | $225,000 | $235,000 | $10,000 |
| 2nd year | $235,000 | $245,000 | $10,000 |
| 3rd year | $260,000 | $270,000 | $10,000 |
| 4th year | $310,000 | $320,000 | $10,000 |
| 5th year | $365,000 | $385,000 | $20,000 |
| 6th year | $390,000 | $410,000 | $20,000 |
| 7th year | $420,000 | $440,000 | $20,000 |
| 8th year | $435,000 | $455,000 | $20,000 |
The previous column reflects the scale Milbank and Cravath adopted in November and December 2023. Cravath’s version stopped at $420,000 for seventh-years, while Milbank and some other firms paid $435,000 to eighth-years, according to the ABA Journal.
Has Cravath matched the 2026 raises?
We have found no announcement that it has. As of 19 October 2026, Cravath’s How to Apply page says New York associates are paid on a scale “currently ranging from $225,000 to $420,000”. Firms reported by the ABA Journal to have followed Milbank by mid-June include McDermott Will & Schulte, Quinn Emanuel, Katten and Seward & Kissel, while Susman Godfrey went further with a $240,000 starting salary. Commentators have suggested Cravath may wait until bonus season to respond, but that is speculation until the firm says so.
What bonuses do Big Law associates get?
Associates on the scale usually receive two kinds of bonus:
- Year-end bonuses, announced in November or December and paid around mid-December. They rise by class year and are normally conditional on meeting billable hours targets and staying at the firm until payment.
- Special bonuses, paid on top in strong years. Milbank has paid summer special bonuses for three years running, and Cravath folded a matching special bonus into its year-end announcement in 2025.
Cravath announced the 2025 year-end and special bonuses on 19 November 2025, as reported by the ABA Journal. Milbank and many other firms matched. “Class of” refers to the year an associate joined after law school, so the class of 2025 were first-years in 2025.
| Class | Year-end bonus | Special bonus | Total 2025 bonus |
|---|---|---|---|
| 2025 | $15,000 | $6,000 | $21,000 (prorated) |
| 2024 | $20,000 | $6,000 | $26,000 |
| 2023 | $30,000 | $10,000 | $40,000 |
| 2022 | $57,500 | $15,000 | $72,500 |
| 2021 | $75,000 | $20,000 | $95,000 |
| 2020 | $90,000 | $25,000 | $115,000 |
| 2019 | $105,000 | $25,000 | $130,000 |
| 2018 | $115,000 | $25,000 | $140,000 |
Put together, a fifth-year associate (class of 2021) on the old scale earned a $365,000 base plus $95,000 in bonuses in 2025, or $460,000 before tax. A first-year earned $225,000 plus a prorated bonus.
What about 2026 bonuses?
Two things are known as of 19 October 2026.
- Special bonuses have been paid at Milbank. On 28 July 2026 Milbank announced special bonuses for “all associates and special counsel globally”, from $6,000 for the class of 2026 to $25,000 for the class of 2021 and more senior lawyers, payable on or before 31 August, according to the ABA Journal. Reports have not yet shown a wide market match.
- Year-end bonuses have not been announced. No firm has published a 2026 year-end scale. In 2025 Cravath opened bonus season on 19 November and many firms matched within days. Until a firm announces, any figure you see for 2026 year-end bonuses is a guess.
We will update this page when the 2026 year-end scale is announced.
How have Big Law salaries changed over time?
| Date | First-year base | What happened |
|---|---|---|
| January 2007 | $160,000 | Raised from $145,000; stayed flat for nearly a decade |
| June 2016 | $180,000 | Cravath raise, with eighth-years at $315,000 |
| 2018 | $190,000 | Milbank led the raise |
| January 2022 | $215,000 | Milbank raise after a further round of increases in 2021 |
| November 2023 | $225,000 | Milbank raise, quickly matched by Cravath |
| July 2026 | $235,000 | Milbank raise, effective 1 July |
The pattern is long flat periods followed by sudden jumps, usually when demand for corporate and finance work is strong. Our look at the biggest law firms in the world shows which firms are large enough to pay at this level.
Which firms pay the Cravath scale?
There is no official list. In general, scale-paying firms are the most profitable Am Law 50 to 100 firms with large New York offices, plus elite litigation boutiques that sometimes pay more. Firms often match in their major US markets but pay less in smaller cities. Some firms match the base salaries but not the special bonuses, or pay bonuses only to associates who meet hours targets. Always ask a firm directly what it pays in the office you are joining. Our comparison of corporate lawyer salaries shows how Big Law pay compares with in-house and boutique roles.
Other parts of the package matter too. Cravath’s careers page lists a $125,000 clerkship bonus for incoming associates who clerked, or $150,000 for two years of clerking, with up to two years of class credit, and a weekly summer associate salary of $4,327.
Is the Cravath scale worth it?
Base pay at this level is far above the median for lawyers, and our guide to which lawyers make the most money explains why corporate and finance practices dominate. But the pay comes with long hours, high billable targets and a steep attrition curve. Most associates leave before partnership, often for in-house counsel roles with lower pay and more predictable hours. For a wider comparison of earnings at each career stage, see how much lawyers make from starting pay to partner, and for the top of the ladder, our piece on partner salaries.
The scale also reaches London. Legal Cheek reported in June 2026 that Milbank pays newly qualified solicitors in London £175,000, in line with the $235,000 US first-year rate.
Frequently asked questions
What is the Cravath scale for first-year associates in 2026?
Firms that matched Milbank’s July 2026 raise pay first-years $235,000. Cravath’s own careers page still lists a starting point of $225,000 as of 19 October 2026, and some firms pay more, such as Susman Godfrey at $240,000.
Have 2026 Big Law year-end bonuses been announced?
No. As of 19 October 2026 no firm has announced a 2026 year-end bonus scale. In 2025 Cravath announced on 19 November, so announcements are likely in November or early December 2026.
What were the 2025 Big Law bonuses?
Cravath’s 2025 scale paid year-end bonuses from $15,000 for first-years to $115,000 for the class of 2018, plus special bonuses from $6,000 to $25,000. Totals ranged from $21,000, prorated, to $140,000.
Why is it called the Cravath scale?
Because Cravath, Swaine & Moore historically set associate pay in New York and other elite firms matched it. Milbank has led most raises since 2018, but the name has stuck as shorthand for the market rate.
Do all Big Law offices pay the same?
No. The scale is a New York benchmark. Many firms pay it in major markets such as New York, Washington, DC, Chicago and California, but some pay less in smaller cities or only match base salaries, not special bonuses.
How much does an eighth-year Big Law associate make?
At firms that matched Milbank, $455,000 in base salary from 1 July 2026, up from $435,000. In 2025, the class of 2018 also received $140,000 in year-end and special bonuses.
This article is general information about Big Law associate pay and is not legal, financial or career advice. Salaries and bonuses are set by each firm, can change at any time and vary by office, so confirm figures directly with the firm.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press release
