The merry season brings with it a generous gift for associates as one of the world’s top Biglaw firms, Sullivan & Cromwell takes the initiative. Following substantial gross revenues of $1,694,809,000 in 2022, Sullivan & Cromwell occupies the 24th position in the Am Law 100 ranking.
Informing its attorneys through individualized links instead of public memos, Sullivan & Cromwell has announced salary benefits, aligning with market trends. All associate salary increments follow the Cravath scale, effective from January 1, 2024, with the hikes as mentioned:
- Class of 2023 – $225,000
- Class of 2022 – $235,000
- Class of 2021 – $260,000
- Class of 2020 – $310,000
- Class of 2019 – $365,000
- Class of 2018 – $390,000
- Class of 2017 – $420,000
- Class of 2016+ – $435,000
Along with handing out raises, Sullivan & Cromwell is also ensuring year-end bonuses as per the Cravath bonus scale:
- Class of 2023 – $15,000
- Class of 2022 – $20,000
- Class of 2021 – $30,000
- Class of 2020 – $57,500
- Class of 2019 – $75,000
- Class of 2018 – $90,000
- Class of 2017 – $105,000
- Class of 2016+ – $115,000
These bonuses will find their way into associates’ accounts by December 22. This move surely brings festive cheer to Sullivan & Cromwell associates, demonstrating the firm’s commitment to acknowledging the hard work of its attorneys.
The full details about the compensation and raise can be accessed here.