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The law firms that pay the most are large corporate firms at the top of the market pay scale, plus elite firms that pay above it. They include the highest-grossing Am Law 100 firms and select New York and Silicon Valley firms. Top-of-market first-year base pay shifts year to year; see the linked U.S. News ranking for the current No. 1, plus lockstep raises and bonuses.
By Ali Unar, JD candidate at Georgetown Law and founder of Lovare Institut. Last updated August 2026. Figures on this page were verified in August 2026 or point readers to the current source.
The law firms that pay the most are large corporate firms at the top of the market pay scale, plus the elite firms that pay above it. They include the highest-grossing Am Law 100 firms and select New York and Silicon Valley firms. First-year base pay at these firms currently runs see the linked source (see the linked source), with lockstep raises and large year-end bonuses on top.
Most top firms pay a single lockstep base by class year, often called the Cravath or market scale, so first-years at competing firms earn the same base. A few high-profit firms pay above market to attract talent, and elite bonuses can add substantially to base pay. The current first-year rung shifts year to year; see the linked U.S. News ranking for the current No. 1, rising each year on a published schedule.
The highest-paying firms are generally the most profitable per partner, concentrated in New York finance and California technology work. The table shows the categories of top-paying firms and what sets their pay.
Firm typeWhat drives the payElite New York firmsHigh-value finance and M&A work, above-market bonusesAm Law 100 leadersHighest profits per partner, full market scaleSilicon Valley firmsTechnology, venture, and IP deal flow
Specific firm pay figures should be confirmed against see the linked source (see the linked source).
Top-paying firms recruit mainly from higher-ranked law schools through the summer-associate program, and they screen hard on grades, journal membership, and clerkships. Strong performance in the first-year on-campus interview cycle is often decisive. For patent-heavy firms, a technical degree is usually required.
The highest pay comes with the longest hours, the highest billable targets, and intense pressure, and attrition is common. Weigh the money against lifestyle, practice interest, and long-term goals before targeting these firms. Lovare's LSAT and admissions coaching helps you reach the schools and grades that these firms recruit from.
The Biglaw salary scale, often called the Cravath scale after the firm that historically set it, is a lockstep base-pay schedule that many large firms match by class year. First-years all start at the same market number, currently $235,000, with a set raise each year plus market bonuses.
How much first-year lawyers make depends mainly on employer type. Large-firm associates earn the lockstep market rate of $235,000, while lawyers in government, public interest, and small firms earn the entry median of $95,000 (the NALP Class of 2024 overall median; the mean was $125,926). Geographic market also shifts the figure up or down.
The best-paying practice areas are big-firm corporate and M&A, patent and other intellectual property, tax, and finance and securities law. These fields pay most at large firms that follow the market scale. Pay for each specialty currently runs roughly $235,000 in market-rate BigLaw regardless of practice area; BLS does not break lawyer pay out by specialty.
Verified August 2026.
August 21, 2026
August 21, 2026