Cravath announced its year-end bonus scale — complete with Milbank’s special bonuses — just a few hours ago, and we’ve officially got our first bonus match.
We’ve now confirmed that Paul Hastings — which reported $2,235,739,000 in gross revenue and profits per equity partner of $6,715,000 in 2024 according to the most recent Am Law 100 — has chosen to use the Cravath scale for its year-end bonuses:
- Class of 2024 – $20,000
- Class of 2023 – $30,000
- Class of 2022 – $57,500
- Class of 2021 – $75,000
- Class of 2020 – $90,000
- Class of 2019 – $105,000
- Class of 2018+ – $115,000
Paul Hastings is also matching the Milbank special bonus scale, and this is what they will look like at the firm:
- Class of 2024 – $6,000
- Class of 2023 – $10,000
- Class of 2022 – $15,000
- Class of 2021 – $20,000
- Class of 2020 – $25,000
- Class of 2019 – $25,000
- Class of 2018+ – $25,000
Congratulations to everyone at Paul Hastings!
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 the managing editor of 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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
The post Paul Hastings Is First Biglaw To Match Cravath’s Generous Bonus Scale appeared first on Above the Law.