Sullivan & Cromwell has opted not to raise first-year associate bonus or salary bands for 2005, Legal Week can reveal, with the New York leader sticking to 2004’s bonus rate of $30,000 (£17,450) and starting salary of $125,000 (£72,700). ... The announcement of a freeze on pay will be welcomed by many Manhattan peers that were concerned about the prospect of a pay war, although all eyes now turn to the likes of Cravath and Simpson Thacher to see whether they will move to top Sullivan’s rates.