Bonus season has officially been set in motion by none other than Cravath, Swaine & Moore LLP, the trailblazer in Biglaw associate compensation. In a bold move, the firm announced not only their standard year-end bonuses but also a round of special bonuses that align with those previously introduced by Milbank this summer.

The year-end bonuses mirror the generous scales of last year, ensuring a hefty payout that’s bound to make Cravath associates' holiday season a lot brighter. According to the detailed bonus chart, the numbers are impressive, maintaining the firm's reputation for top-tier rewards.

This year, associates in New York and D.C. can look forward to receiving their bonuses on December 12th, with no stringent hours requirement—a customary practice for the firm aimed at valuing overall contribution over mere billable hours. Meanwhile, their London counterparts will need to wait until December 19th for their festive financial boost.

Cravath’s announcement has inevitably sent ripples across the legal community, prompting partners at other Biglaw firms to revisit their own bonus structures. The legal industry now watches eagerly as competitors like Davis Polk, Paul Weiss, and Latham & Watkins prepare to reveal their own bonus announcements, likely matching or attempting to surpass Cravath's lead.

Associates across Biglaw are expected to be glued to their inboxes, anticipating confirmation emails that could dictate their financial planning for the coming year. The atmosphere is reminiscent of waiting for a hot ticket item—high anticipation and a dash of competitive spirit.

Cravath has set the stage for what promises to be an exciting end-of-year bonus season. As other firms gear up to announce their plans, the legal community remains abuzz with speculation and excitement. Associates are encouraged to keep a close watch on updates and share any news of bonus matches or changes within their firms.

For those keen on staying informed, subscribing to ATL’s Bonus Alerts ensures immediate updates on further developments. With the bar set high by Cravath, it remains to be seen how other firms will respond to this generous precedent. One thing is certain: the end of 2025 looks prosperous for many in Biglaw.

As the season unfolds, associates are reminded to reach out with any tips or updates regarding their firm's bonus announcements. This collective input helps keep the legal community informed and maintains transparency around compensation trends.