Last week, Cravath announced that it would be keeping its bonus scale for associates unchanged from 2015 – at $15,000 (pro-rated) for those with one year PQE, up to $100,000 for the firm’s most senior associates. The announcement triggered a predictable ripple through other major firms, with the likes of Milbank Tweed, Paul, Weiss, Rifkind, Wharton & Garrison, Simpson Thacher, Clifford Chance, Allen & Overy, Linklaters and Freshfields all quickly announcing that they would match Cravath’s scale for their own US associates.

However, one firm – Californian high-stakes business litigation specialist Greenberg Gross – has decided to go one step further. In an announcement at the end of last week, the firm revealed that it will pay its own associates bonuses that exceed the levels set by Cravath by at least $5,000 for lawyers at all levels. ‘Associates who have performed our high expectations will receive even more than that,’ said firm co-founder Alan Greenberg in an internal memo sent to associates late last week. The 17-partner firm, which is currently headquartered in Costa Mesa, also revealed that it will launch a new office in Los Angeles in January.

Source: The Recorder