Cleary Gottlieb Steen & Hamilton LLP

The firm employs a set lockstep system for U.S. associate salaries and bonuses. A majority of the Lateral Link Members say that this is the most preferred option as it eliminates "associate vs. associate competition" and makes the workplace environment more conducive.

Cleary Gottlieb's starting salary is $160,000. The firm pays this starting salary in each of its U.S. offices. In 2009 and 2010, the firm matched the lower "Cravath-level" bonuses but in 2011 they matched Sullivan & Cromwell's additional spring bonus. Notably, during the worst of the financial crisis, the firm did not engage in any salary freezes or cuts.

The firm offers a standard four weeks of vacation time and eighteen months maternity leave. The firm provides a subsidized cafeteria, free gym membership and free dinners.

In addition to bar expenses, new associates in New York can expect Cleary to pay for a broker fee required to find housing, as well as travel and lodging in Albany or New York City for the bar exam.

There is no official minimum billable-hour requirement to receive bonuses. Though the expectation is that associates will bill at least 2000 hours, like most top corporate firms, associates regularly bill far more than that.