In law school, one of our professors had us read a case study on Cravath, the preeminent NY law firm. The Cravath system; the Cravath man; the Cravath training. etc. At the time, I was told by my law professor that the average Cravath partner makes $3M per year.
Anyhow, Cravath has announced it's year-end bonus.
$7,500 for its first-year associates; $35,000 for its seventh-year associates. Here is a letter from the management of Cravath - confirming the firm's promise and intent to payout by Dec 10th.
This is good. It shows a healthier economy. And NY firms have a tendency to follow suit (like lemmings) when it comes to bonus structure.
For those of you thinking about law school, take all warnings and advice with a grain of salt. There were several blogs and warnings that the law firm system is doomed. They may very well be correct; only time will tell.
But for the time being, it looks like things are picking back up. There will always be a need for good lawyers - no matter how bad the economy. And top firms, will always need to hire.
So, in short, do well on your LSAT. No matter what your goals - public interest, international law, diplomacy, corporate law - going to a top law school will help; and going to a top law school means doing well on the LSAT. Good luck!
Nice site. Can you explain Test 34 Game 4. I can't figure it out even though I did the contrapositive and its making my head hurt. Thanks.
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