Finger Lakes Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Elite Law Firm Raises Pay For First Time In Years

Same-sex couples and their attorneys who had previously challenged the wedding ban celebrate on court steps after Circuit Court Judge Sarah Zabel lifted the stay, allowing same-sex couples to marry January 5, 2015 in Miami, Florida.  (Emily Michot-Pool/The Miami Herald/Getty Images)
Same-sex couples and their attorneys who had previously challenged the wedding ban celebrate on court steps after Circuit Court Judge Sarah Zabel lifted the stay, allowing same-sex couples to marry January 5, 2015 in Miami, Florida. (Emily Michot-Pool/The Miami Herald/Getty Images)

The New York law firm Cravath, Swaine & Moore announced in a memo this weekthat it is increasing the annual salary it pays to first-year lawyers, from $160,000 to $180,000, for the first time in nearly a decade.

Salaries for other associates are also increasing, in what is being seen as an unusual move that is a bellwether for the industry.

Here & Now‘s Jeremy Hobson speaks with CNN’s Maggie Lake about why the firm is increasing pay right now.

Guest

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Tags