Munger Tolles and Olson has announced a significant increase to its clerkship signing bonus, signalling fierce competition among elite litigation firms for former federal clerks.
The Los Angeles-based litigation powerhouse will now offer $180,000 to attorneys joining the firm after completing one qualifying clerkship.
Lawyers who completed two or more qualifying clerkships will receive an even larger bonus of $200,000 upon joining Munger Tolles and Olson.
The firm noted in its announcement that the move “reflects our ongoing commitment to paying market-leading salaries and clerkship bonuses so we can continue attracting the very best lawyers — the foundation of the exceptional service and results we deliver for our clients.”
The decision carries particular weight given that eighty percent of litigators currently at the firm clerked before joining Munger Tolles and Olson.
The firm recently made headlines for shortening its summer associate program in an effort to make life less “stressful” for law students, and this latest move reinforces its reputation for aggressive talent investment.
Munger Tolles now joins Susman Godfrey and Hueston Hennigan in offering a market-leading $180,000 bonus to federal clerks who choose to join the firm after their clerkship.
Quinn Emanuel offers $175,000 for a single year of clerkship experience, with an additional $25,000 available to applicants who complete a second qualifying clerkship.
Boies Schiller offers $150,000 for all federal clerkships, rising to $175,000 for attorneys who have completed multiple clerkships at the federal level.
Cravath offers clerkship bonuses of $125,000, increasing to $150,000 for those who have completed a two-year clerkship or two separate one-year clerkships.
Plaintiffs firm Dovel and Luner offers $140,000 as a clerkship bonus, while Robins Kaplan offers $100,000 to former federal clerks joining its ranks.
Fish and Richardson offers a $115,000 clerkship bonus, though that applies exclusively to candidates with Federal Circuit experience and requires two full years of service as a clerk.
The clerkship bonus arms race reflects the enduring premium placed on federal clerkship experience within Biglaw, where firms view former clerks as exceptionally well-trained and analytically rigorous attorneys.
Federal clerkships are widely regarded as among the most demanding and prestigious roles available to law school graduates, making those who complete them highly sought after across the legal market.
With the lateral market remaining highly competitive, pressure is mounting on firms yet to announce comparable bonus packages to act before losing out on top-tier clerkship talent.