This OG’s high-profile work and trendsetting pay packet are just a few factors tipping the scales in favor of its generalist associates.
Cravath Lateral Profile 2024
“The moment you step into Cravath, your inbox is overflowing with messages from recruiters. I received 100 in my first year here.” No, this isn’t a junior associate’s humble brag or even advice on adjusting your notification settings, but rather evidence of the power of the Cravath name. It’s a name anyone paying even half a mind to BigLaw will have come across. After all, it’s not every day you come across a firm that was the blueprint for the modern US law firm setup. (We’re no Wikipedia page but, to summarize, Cravath lawyers were the ones to start taking on law school grads as associates and training them as generalists.) More recently, you’ll find Cravath pops up in conversations on compensation in the legal profession, setting the standard for salaries and bonuses across the industry with its pay scale. Simply put, it’s no exaggeration to say that Cravath leads the pack, as many firms in the market have followed standards that Cravath has pioneered.
View the firm’s Chambers USA rankings
Read the firm’s Inside View feature on junior associate life
Why did you join your firm? Associates say…
“Structural indicators of qualitative attorney development and collaborative culture, such as the lockstep compensation system, formal rotational structure, and partner mentorship program.”
“Cravath has a reputation for having a cut-throat culture, but that could not be further from the truth. There is a strong culture of excellence, but nobody is pursuing excellence at the expense of their own colleagues' success or well-being. Cravath lawyers generally are collegial and collaborative.”
“Cravath made clear from my first interview that they put value in people who had to work a little harder to climb their way to Big Law, or who took circuitous paths along the way. Cravath goes above and beyond to support people.”
Career Development & the Path to Partnership
|
4 |
4 : 1 |
62% |
||
|
partners made in 2023 |
associate : partner gearing |
of associates intend to make partner |
||
|
52% |
25% |
78% |
||
| felt partnership was achievable for attorneys with children | felt partnership was achievable at the firm | agreed partners are nurturing future leaders |
||
The view from the firm: In addition to the hands-on training associates received through the rotation system, we also offer a robust internal training program with substantive legal courses as well as sessions on professional skills all taught by the Firm’s partners. Our substantive courses cover a broad range of topics across all departments and junior associates participate in mock negotiations and mock depositions in a workshop format. The professional skills sessions are sequenced to address associates by seniority, including a multi-part management series for our mid-level associates. In addition to the formal training program, career development at Cravath is supported through our Associate Advisor Program, which pairs an incoming associates with a more experienced associate for their first year at the Firm, as well as our Partner Mentor Program, which pairs an associate who has completed a year at the Firm with a Partner who will serve as their Mentor going-forward. From second year on, Associates participate in our review process and receive both an oral and written review annually to further their development.
Hours & Compensation
|
no requirement |
13.8 |
51.5 |
|
billable hours |
average number of vacation days associates took in one year |
average number of hours associates worked in one week |
|
47% |
56% |
75% |
| agreed they had a good work-life balance |
said the benefits package makes the workload worthwhile |
found the bonus allocation fair and transparent |
Salaries
1st year: $225,000
2nd year: $235,000
3rd year: $260,000
4th year: $310,000
5th year: $365,000
6th year: $390,000
7th year: $420,000
The firm did not disclose its salaries beyond this point.
Is Cravath the right firm for you?
|
90% |
96% |
81% |
|
were happy in their current role |
agreed the work is interesting |
felt comfortable being themselves at work |
Here's what survey respondents had to say about the firm's culture...
“The people are down to earth and don’t take themselves too seriously.”
“It is a culture of perfection, as it should be; a culture demanding world-class work product and unrivaled success.”
“It’s more collaborative than I even thought it would be. In certain practice groups, juniors can take on a ton of work beyond their years if they demonstrate competency and initiative.”
Pro Bono
|
75 |
85% |
|
average pro bono |
agreed the firm is committed to pro bono |
Pro bono highlights: Incarcerated individuals; Children’s Hospital Project; immigration; building and assisting organizations.
Sustainability & CSR
The view from the firm: Cravath’s commitment to sustainability extends to our client work. Many Cravath clients, including companies across various sectors, have undertaken initiatives and/or made commitments relating to sustainability, including in areas relating to renewable energy, greenhouse gas reductions and other climate-related concerns. Cravath lawyers, including Cravath partners in our environmental and governance practices, regularly advise clients on such matters, including with respect to climate- and ESG-related strategies, public reporting and targets. We also support our clients on initiatives to promote greater environmental responsibility and minimize environmental impacts. For example, we regularly review and report on sustainability efforts and performance in supplier questionnaires and surveys. Our lawyers also assist clients in connection with green bonds and other sustainability-linked financing transactions, as well as their engagement with investors and other stakeholders on climate and other ESG-related concerns.
Contact
Learn more about opportunities at the firm
Recruitment contact: Lisa A. Kalen, Chief Legal Recruiting Officer
lkalen@cravath.com; (212) 474-3215