2026 Cravath Scale: Big Law Associate Salaries and Bonuses by Class Year
The 2026 Cravath scale base salaries range from $225,000 (first-year) to $435,000 (eighth-year). Add market bonuses and total compensation reaches $257,000 to $600,000. Here's the full breakdown — salary by class year, bonus structure, which firms follow it, and what the numbers mean for your financial planning.
2026 Cravath Scale: Base Salary and Market Bonus by Class Year
| Class Year | Base Salary | Market Bonus | Total Comp |
|---|---|---|---|
| 1st Year | $225,000 | $32,000 | $257,000 |
| 2nd Year | $235,000 | $50,000 | $285,000 |
| 3rd Year | $260,000 | $87,500 | $347,500 |
| 4th Year | $310,000 | $115,000 | $425,000 |
| 5th Year | $365,000 | $140,000 | $505,000 |
| 6th Year | $390,000 | $155,000 | $545,000 |
| 7th Year | $420,000 | $165,000 | $585,000 |
| 8th Year | $435,000 | $165,000 | $600,000 |
Base salaries have been frozen at these levels since 2024.1 Market bonuses reflect the full-year total across spring, summer, and fall payment windows. Some firms pay special bonuses above market for exceptional billers or critical-practice associates — those amounts are firm-specific and not reflected above.
What Is the Cravath Scale?
The Cravath scale is an associate salary structure set by Cravath, Swaine & Moore — historically one of the most profitable Big Law firms — that the rest of the market uses as a benchmark. It has functioned as an informal industry standard since at least the 1990s, with other major firms matching it within weeks whenever Cravath raises.
The term is shorthand for "Cravath-scale salary" meaning a firm that matches the prevailing top-of-market rate. Associates at matching firms receive the same base salary by class year, regardless of practice area, office location (with limited exceptions), or billing hours — as long as they meet the firm's definition of standard performance.
Class year is typically measured from law school graduation or bar admission, not from hiring date. An associate who clerked for a year and joined as a "second-year" is paid at the 2nd-year base from day one.
Which Firms Pay Cravath Scale?
Most AmLaw 50 firms match or closely track the Cravath scale. The market-matching reflex is strong: when Cravath moves, firms announce matching within days to avoid losing recruits or triggering retention conversations. Major consistent matchers include Sullivan & Cromwell, Davis Polk, Cleary Gottlieb, Kirkland & Ellis, Latham & Watkins, Paul Weiss, Skadden, Simpson Thacher, Weil Gotshal, and White & Case, among others.
AmLaw 51–200 firms are a mixed picture. Some match Cravath to compete for top recruits in specific practice areas. Others pay below-market salaries — often $175K–$210K at first year — and compensate with higher partner track odds, lower billing requirements, or earlier partnership timelines. Regional boutiques commonly pay $120K–$180K at first year.
Bonus Payment Calendar
The annual Big Law bonus is not paid in one lump sum. It's distributed across three windows:
- Spring bonus (March–April): typically $6,000–$25,000 depending on class year — a smaller installment tied to prior-year performance
- Summer bonus (June–July): matched to spring — another installment of the same amount
- Year-end bonus (November–December): the largest payment, typically $20,000–$115,000 — Cravath's November announcement triggers a cascade of matching from other firms in the weeks that follow
The implication for financial planning: your largest bonus lands in November or December. If you're targeting an estimated tax payment in January (Q4 safe harbor deadline is January 15), this bonus will spike your taxable income in Q4. Associates in high-tax states who receive the bulk of their annual bonus in late November should make sure their withholding and estimated payments account for this concentration.
Associates who lateral mid-year may receive prorated or no bonus at their new firm depending on timing and the terms negotiated. Bonus timing is a real financial variable when evaluating a lateral move.
After-Tax Take-Home: What Associates Actually Bring Home
Big Law salaries look different after federal income tax, FICA, and state taxes. The effective rates vary significantly by location — New York City is among the highest-taxed places in the country for W-2 income.
| Class Year | Total Comp | Approx. After-Tax (NYC) | Approx. After-Tax (TX/FL) |
|---|---|---|---|
| 1st Year | $257,000 | ~$140,000 | ~$165,000 |
| 3rd Year | $347,500 | ~$185,000 | ~$220,000 |
| 5th Year | $505,000 | ~$260,000 | ~$315,000 |
| 8th Year | $600,000 | ~$305,000 | ~$375,000 |
Estimates assume single filer, standard deduction, $24,500 401(k) contribution, and reflect approximate federal + FICA + state/local rates for 2026.2 California rates are between TX/FL and NYC — roughly $5,000–$15,000 lower take-home than TX/FL due to CA's 9.3–13.3% marginal rates. Individual circumstances vary. Use the income modeler for a detailed year-by-year projection.
- Federal income tax: ~$55,000–$60,000 (includes 32–35% marginal bracket on upper income)
- FICA (employee share): ~$15,700 (6.2% SS on first $184,500 + 1.45% Medicare + 0.9% Additional Medicare above $200K)
- NY state income tax: ~$18,000–$22,000
- NYC city income tax: ~$9,500–$10,000 (3.876% on most income)
- Total taxes: roughly $98,000–$107,000 — about 41–44% of gross before retirement contributions
- After maxing 401(k) at $24,500: take-home of approximately $125,000–$135,000
Financial Planning Priorities by Class Year
The Cravath scale creates a predictable income ramp — the financial decisions that matter most change significantly between first year and seventh year.
Years 1–2: Build the foundation
A first-year associate earning $257K in NYC after 180K in law school debt starts with a single priority: getting the debt situation under control before salary disappears (firms pay well; but nothing is guaranteed). The binary decision is aggressive private refinancing vs. IBR enrollment as a hedge. If you're certain about staying in Big Law for at least 5 more years, the math typically favors private refi at current rates. If you're uncertain, federal IBR preserves optionality. See the student loan strategy calculator for your specific scenario.
Year one is also the best time to lock in long-term disability insurance. Individual own-occupation policies require medical underwriting — once you have a disqualifying health event, you lose the window. Premiums are lowest in your late twenties. Don't wait.
401(k): contribute the full $24,500 limit. Law firms rarely offer pension benefits; the 401(k) is your only tax-advantaged retirement vehicle as an associate.
Years 3–5: Accelerate ahead of the fork
By third year ($347,500 total comp), most associates have made a preliminary judgment about whether they're tracking toward partnership. The financial priorities diverge sharply based on that answer:
- Partnership track: Build a capital contribution reserve. Equity partnership buy-ins range from $200K to $800K+ at AmLaw 100 firms — typically payable in the first 1–3 years of partnership. You'll need that capital available. See the capital contribution financing guide for the full range of options.
- In-house or lateral: Maximize portable savings now. NQDC benefits you've accrued don't transfer when you leave. 401(k), taxable brokerage, and cash savings do.
- Undecided: Treat it like partnership track. The cost of over-preparing for partnership is low; the cost of arriving at the decision point unprepared is high.
This is also the period where a Big Law–specialist financial advisor delivers the most leverage. The lifetime income difference between optimizing your savings and tax strategy vs. not in years 3–5 can easily exceed $500K in compounded wealth by retirement.
Years 6–8: The partnership decision
Sixth through eighth years are the period when partnership decisions get made. From a financial standpoint, the key questions are:
- What are the actual economics of your firm's equity partnership offer? Lockstep? Eat-what-you-kill? Capital contribution terms?
- Is your firm's partnership worth buying into? A firm with declining profitability, excessive lateral partner debt, or an aging book-of-business concentration deserves skepticism. See the income modeler to compare partner-track and in-house scenarios side by side.
- If you accept, how do you fund the capital contribution without liquidating tax-inefficient assets or taking on high-cost debt?
Many 7th-year associates also face the first serious evaluation of whether their student loans are better refinanced or paid off aggressively at this income level. On $585K total comp, carrying student loan debt at 6–8% becomes expensive relative to after-tax investment returns.
How the Cravath Scale Compares to Government and Academic Salaries
The salary gap between Big Law and public service is the financial engine behind PSLF demand. A federal judicial clerk earning $65K–$85K who pivots to a Cravath-scale firm earns $225,000 in year one — a $140,000–$160,000 gross income jump in a single step. For most associates, this is the largest salary increase they'll ever receive.
That gap also explains why PSLF is most valuable to associates who are genuinely committed to public service careers — not those who joined Big Law immediately. If you clerked, did a public interest fellowship, or worked in government before Big Law and are now 4+ years into your 10-year repayment clock, PSLF may still be worth preserving even with a Big Law salary.
See the student loan strategy guide for a full PSLF vs. private refi analysis at various class years and loan balances.
Related guides for Big Law associates
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- BigLaw Investor, "BigLaw Salary Scale" — tracks the Cravath scale from 1968 to present with annual base and bonus data: biglawinvestor.com/biglaw-salary-scale/
- After-tax estimates use 2026 federal income tax brackets (IRS Rev. Proc. 2025-38), 2026 Social Security wage base of $184,500 (SSA.gov), New York State 2026 income tax rates (NY Tax Law §601), and New York City local tax rate of 3.876%. Values are approximate for a single filer taking the standard deduction and contributing $24,500 to a 401(k). See IRS Rev. Proc. 2025-38 and SSA 2026 COLA fact sheet.
- ABA Journal, "Cravath kicks off associate bonus season," November 2025 — reporting on Cravath's year-end bonus announcement triggering market matching: abajournal.com
- BCG Search, "BigLaw Associate Salaries 2000–2026: Bonus Trends, Regional Variations, and 2026 Forecast" — historical context on scale movements and regional differentiation: bcgsearch.com
Salary values verified as of April 2026 from industry trackers and law firm announcements. Base salaries unchanged from 2024.