Surpassed as associate pay leader, Davis Polk matches Cravath as other firms join in
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For nearly a week and a half, Davis Polk & Wardwell set the scale for associate pay when it announced that it was paying $215,000 to $396,500 to associates.
Then on Feb. 28, Cravath, Swaine & Moore announced its new pay scale, which surpassed Davis Polk for midlevel and senior associate classes. Days later, on March 3, Davis Polk announced that it, too, is matching Cravath, which is paying up to $415,000, Above the Law reports.
Davis Polk wasn’t the only law firm matching Cravath, according to Above the Law’s “Salary Wars Scorecard.” As of March 7, at last 26 large and boutique law firms had matched Cravath, including Davis Polk.
Here is Cravath’s salary scale:
• Class of 2021: $215,000
• Class of 2020: $225,000
• Class of 2019: $250,000
• Class of 2018: $295,000
• Class of 2017: $345,000
• Class of 2016: $370,000
• Class of 2015: $400,000
• Class of 2014: $415,000