Kara Sears
Lawyers working in Big Law can expect to earn a substantial salary, with the average annual pay varying depending on the source and location. In Los Angeles, the average annual pay for a Big Law Firm was $58,580 in May 2025, while the average salary for a Big Law Attorney was $109,277. Associates at big law firms can expect to earn around $3.1 million in the first eight years after law school, with partners earning an average of $1.1 million per year, but this can vary significantly. Some Big Law partners may even earn over $10 million. In addition to base salaries, Big Law associates often receive annual and summer bonuses based on market trends and firm performance. While Big Law salaries are generally higher than those in other legal sectors, it's important to consider factors such as student loan debt, cost of living, and tax deductions when evaluating overall financial prospects.
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What You'll Learn
The Cravath scale
Bonuses on the Cravath scale do not change every year. In 2024 and 2025, first-year lawyers on the Cravath scale received a bonus of $20,000. Fourth-year lawyers received a bonus of $75,000, while seventh- and eighth-year lawyers received a bonus of $115,000.
The Cravath system, distinct from the Cravath scale, helps firms determine who has what it takes to be an associate. It is designed to help firms find the right first-year lawyers based on a few key indicators.
Big Law firms are known for charging clients high fees, which allows lawyers to earn higher salaries. These firms are also located in large cities, where the cost of living is higher, and lawyers tend to earn more as they progress in their careers.
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Summer associate programs
The programs typically last around 10 weeks, starting in mid-May and running into late July, or sometimes starting in late May and ending in early August. Summer associates can expect to earn a generous salary, with most firms adhering to an industry standard of around $3,500 per week, which equates to approximately $30,000-$36,000 for the duration of the program. Some sources suggest that summer associates are paid the same as first-year associates, which could mean a salary of over $200,000.
During the program, summer associates can expect to work on a variety of tasks, including writing briefs and motions, conducting legal research, drafting client memoranda, and even taking part in corporate transactions. They may also be involved in pro bono work and other non-billable assignments. Summer associates often collaborate with multiple offices and may even have the opportunity to work in different cities or countries, providing a broad perspective on the firm's practices.
In addition to the substantive work, summer associate programs offer numerous perks, such as extravagant parties, theatre tickets, and dining at nice restaurants. These perks are part of the firm's effort to sell the lifestyle of a full-time Big Law attorney. While the programs are designed to be enjoyable, they also serve as an extended job interview, with firms closely evaluating summer associates' performance to determine if they are a good fit for full-time employment.
Overall, summer associate programs in Big Law provide a unique opportunity for law students to gain hands-on experience, develop relationships within the firm, and increase their chances of securing a high-paying job after graduation.
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Student loan management
A career in Big Law can be a lucrative choice, with the potential to earn a high salary and tackle law school debt. The average law school debt is $145,500, and a 2021 survey by the American Bar Association found that 9 out of 10 young lawyers had $130,000 or more in student loans. Lawyers typically earn solid incomes, with a median pay for all attorneys in 2022 of $135,740. However, "big law" attorneys can earn far more, with a starting salary of around $190,000, increasing quickly thereafter. This high salary provides options for managing student loans that may not be available to lawyers earning less.
Prioritize high-interest debts
Before allocating extra money towards your student loans, focus on paying off higher-interest debts, such as bar exam loans. Additionally, consider building an emergency fund and contributing to your retirement savings. For example, take advantage of a Roth IRA if your income level allows for it.
Refinance your student loans
With a high salary from a Big Law career, you may be in a position to refinance your student loans at a lower interest rate. Refinancing can reduce your monthly payments and the overall amount you owe. However, be cautious when refinancing federal student loans, as you may lose benefits like income-driven repayment plans and loan forgiveness programs. Consider your long-term career plans before making any decisions.
Maximize tax-advantaged retirement accounts
To reduce your taxable income, contribute to tax-advantaged retirement accounts, such as a 401(k) or a Health Savings Account (HSA). By investing in these accounts, you can grow your savings tax-efficiently while also lowering your taxable income.
Create a budget and avoid "lifestyle creep"
Budgeting is essential, even with a high income. Avoid the trap of "lifestyle creep," where your spending increases to match your income. Instead, maintain a comfortable lifestyle that aligns with a percentage of your earnings, allowing you to allocate the rest towards debt repayment and savings.
Choose an income-driven repayment plan
If your student loan debt is more than twice your income, consider selecting an income-driven repayment (IDR) plan, such as Pay As You Earn (PAYE) or Revised Pay As You Earn (REPAYE). These plans keep monthly payments low, and any remaining loan balance is forgiven, although taxes will be owed on the forgiven amount.
Remember, personal finances are complex, and it's always a good idea to seek individualized advice from a professional financial advisor. These strategies can help you manage your student loans effectively while pursuing a career in Big Law.
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Salary progression
The salary of a first-year associate in 2022 was $215,000, and this increases for second-year associates. The most common starting salary for first-year associates at Big Law firms is $190,000. Lawyers tend to earn more as they progress in their careers, especially after gaining five or more years of experience. Associates at big law firms make, on average, $3.1 million in total earnings over their first eight years after law school. After this period, many associates will have either left the firm or made partner. Partners' salaries vary considerably, with some making over $10 million per year.
The location of the firm also plays a significant role in salary levels. For example, in Los Angeles, the average annual pay for a Big Law attorney as of May 2025 was $109,277, with a range of $82,100 at the 25th percentile to $129,000 at the 75th percentile. The average Big Law Firm salary in Los Angeles was $58,580, with top earners (90th percentile) making $84,563.
The competitive market among Big Law firms drives salary increases, as firms compete to attract top talent. The Cravath scale, set by Cravath, Swaine & Moore LLP, is particularly influential, with other firms often announcing salary increases to match or exceed it.
Big Law salaries provide numerous financial advantages, such as managing student loans more effectively, becoming ineligible for Roth IRA contributions early in one's career, and having greater flexibility with refinancing options.
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Location-based salaries
The salaries of Big Law associates are influenced by factors such as firm size, location, and market competition. The standard first-year associate salary at many of the largest firms in the US is $215,000, with base salaries ranging from $215,000 to $230,000. However, salaries may vary by location, with firms in smaller markets or secondary cities offering slightly lower starting salaries than those in major hubs like New York, San Francisco, and Los Angeles.
The Cravath scale, an industry-standard salary scale established by Cravath, Swaine & Moore LLP, is a system of lockstep associate compensation based on the number of years out of law school and paid to New York lawyers working at Cravath. The scale has largely stayed the same across major law firms because those firms compete for the best law students from the top law schools. If one firm offers a higher salary, other firms tend to announce salary increases shortly after.
In 2024, first-year associate pay rose 48% from 2012 in the industry's prevailing Cravath pay scale, while compensation for seventh-year associates jumped by 78%. In 2023, Milbank announced an increase in base compensation for all associates of $10,000 starting in 2024, which was matched by Cravath. Later that year, Paul Hastings raised salaries for eighth-year associates to $435,000, $10,000 more than Milbank.
While Big Law firms offer high salaries, associates often work long hours, typically 60 to 80 hours per week, and face intense demands from clients and supervisors. This workload and high expectations can lead to stress and burnout, making work-life balance a challenge for many associates. Despite the high salaries, it is important to consider the hidden costs of working in Big Law, including demanding hours, immense pressure, and sacrifices in personal and professional autonomy.
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Frequently asked questions
In 2022, a first-year associate working in Big Law made $215,000.
Lawyers working in Big Law can expect to make $3.1 million in their first 8 years after law school. This is substantially more than lawyers working in small firms ($1.4 million), government ($694,000), or public interest ($510,000).
As of May 12, 2025, the average annual pay for a Big Law Attorney in Los Angeles is $109,277. However, salaries range from $42,127 to $174,298, with top earners (90th percentile) making $157,974.
