Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

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Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Thu May 01, 2014 12:02 pm

I was hoping we could compile information on clerkship compensation at various firms. Whether they pay a market-rate second clerkship bonus (the market rate is supposed to be 20-25k on top of the market 50k initial bonus), what class-credit various firms give one- or two-year clerks (does your clerkship entitle you to enter at a second year pay rate, how does this affect stub year, does a second clerkship give you an extra year's credit, etc). And finally, I was hoping people might be able to post info on what firms will retroactively reimburse your bar fees after you join up.

Compiled Information

Williams & Connolly
Anon Source wrote:W&C is 50/75, plus class year credit. So, someone coming off two clerkships will start at 195k and get a raise with their class year in January. Someone coming off one will start at 180k.

Keker & Van Nest
Anon Source wrote:Keker gives a $50k Article III bonus, regardless of the number of clerkships. There's no bump for D.Ct+COA (which is standard for most of their incoming associates). They also do not give a SCOTUS bonus. I believe clerks get class year and compensation credit, though, so someone coming in after two years of clerking would be paid as a third-year associate.

Susman Godfrey
Anon Source wrote:SG is 50/60, 175k starting, salary credit for second clerkships.

Sullivan & Cromwell
http://www.sullcrom.com/compensation-and-benefits wrote:Compensation
First-Year Base Salary..... $160,000
Second-Year Base Salary..... $170,000

Clerkship Bonus (for one year)*..... $50,000
Clerkship Bonus (for two years)*..... $70,000

Class-year credit is also extended for eligible clerkships.

* For eligible clerkships.

Cravath Swaine & Moore
http://www.cravath.com/faq/ wrote:Does the Firm pay bonuses to incoming associates who have clerked?
Yes. For any qualifying clerkships, the Firm pays a clerkship bonus of $50,000 to incoming associates. If an incoming associate has clerked for two years in qualifying clerkships, the Firm will pay a $70,000 bonus (in lieu of the $50,000 bonus described above). Incoming associates who have clerked for a Justice of the U.S. Supreme Court are paid an additional bonus.

Davis Polk & Wardwell
http://www.davispolk.com/careers/us/compensation-and-benefits/ wrote:Incoming associate benefits include:
Relocation expenses, including the cost of moving and storage and a broker's fee of up to $2,500 within six months of arrival at the firm
A salary advance of up to $7,500 within three months of one's arrival to the firm
Bar review tuition and fees for bar examination and admission
Class credit is given in the salary scale for up to two years of clerkship at a U.S. federal or state court or Canadian court, and upon arrival at the firm, eligible clerks receive a bonus of $50,000 for a one-year clerkship and $70,000 for a two-year clerkship or two one-year clerkships.

Gibson Dunn & Crutcher
Anon Source wrote:Gibson Dunn pays 50k for a first year clerkship and does not offer a second years bonus. GDC also pays summer associates an "advance" out of their clerkship bonus to cover what would otherwise be a 17k bar stipend, rather than providing the stipend outright. GDC offers one year of class rank for salary purposes for up to two clerkships.

Boies Schiller & Flexner
Anon Source wrote:Boies Schiller pays 50/70 and gives full class credit for both years.

Munger Tolls & Olsen
Anon Source wrote:Pays 50k as a first clerkship bonus. It is unclear whether they provide a second year clerkship bonus or how they calculate class credit for either year.

WilmerHale
Anon Source wrote:WilmerHale pays 50K for first, and I believe 75K if you're joining after completing two clerkships. The clerkships may be Art. III or the highest court of a state (obviously a huge jump if you have SCOTUS). You get 1 year of seniority for one clerkships, and 2 years of seniority for two clerkships (i'm not sure what happens if you have a two-year clerkship term). But if you completed two 1-year clerkships after graduating before joining the firm, you start as a 3rd-year associate.

Paul, Weiss
http://www.paulweisscareers.com/judicialclerks/ wrote:Paul, Weiss gives 50/70.
Last edited by Anonymous User on Sat May 03, 2014 6:38 pm, edited 12 times in total.

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Re: Firms that Provide 2nd Clerkship Bonus / Post-Clerkship Comp

Postby ph14 » Thu May 01, 2014 12:23 pm

--LinkRemoved--

Compensation
First-Year Base Salary..... $160,000
Second-Year Base Salary..... $170,000

Clerkship Bonus (for one year)*..... $50,000
Clerkship Bonus (for two years)*..... $70,000

Class-year credit is also extended for eligible clerkships.

* For eligible clerkships.


http://www.cravath.com/faq/

Does the Firm pay bonuses to incoming associates who have clerked?
Yes. For any qualifying clerkships, the Firm pays a clerkship bonus of $50,000 to incoming associates. If an incoming associate has clerked for two years in qualifying clerkships, the Firm will pay a $70,000 bonus (in lieu of the $50,000 bonus described above). Incoming associates who have clerked for a Justice of the U.S. Supreme Court are paid an additional bonus.


http://www.davispolk.com/careers/us/com ... -benefits/

Incoming associate benefits include:

Relocation expenses, including the cost of moving and storage and a broker's fee of up to $2,500 within six months of arrival at the firm
A salary advance of up to $7,500 within three months of one's arrival to the firm
Bar review tuition and fees for bar examination and admission
Class credit is given in the salary scale for up to two years of clerkship at a U.S. federal or state court or Canadian court, and upon arrival at the firm, eligible clerks receive a bonus of $50,000 for a one-year clerkship and $70,000 for a two-year clerkship or two one-year clerkships.

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Re: Firms that Provide 2nd Clerkship Bonus / Post-Clerkship Comp

Postby Anonymous User » Thu May 01, 2014 12:35 pm

Regarding the above post, fantastic, thanks very much. That's exactly the type of info I'm hoping to compile--when I get a second I'll add it into the first post.

I can say from talking to former clerks that Gibson Dunn pays $50k for a first year clerkship and does not provide a second-year bonus. They do provide up to two years of additional class-rank for your years clerking. They do not pay bar expenses, moving expenses, or a stipend to clerks that I have heard of.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 3:31 pm

Anyone know Munger's policy?

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 3:32 pm

Anonymous User wrote:Anyone know Munger's policy?


I looked at my offer letter. Says $50k judicial clerkship bonus, with no mention of a second clerkship. Assuming that means they don't pay a 2nd clerkship bonus.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 3:43 pm

Any info on Boies Schiller? I can't find anything on there website about bonuses period.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 3:51 pm

WilmerHale pays 50K for first, and I believe 75K if you're joining after completing two clerkships. The clerkships may be Art. III or the highest court of a state (obviously a huge jump if you have SCOTUS).

You get 1 year of seniority for one clerkships, and 2 years of seniority for two clerkships (i'm not sure what happens if you have a two-year clerkship term). But if you completed two 1-year clerkships after graduating before joining the firm, you start as a 3rd-year associate.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 6:29 pm

Anonymous User wrote:
Anonymous User wrote:Anyone know Munger's policy?


I looked at my offer letter. Says $50k judicial clerkship bonus, with no mention of a second clerkship. Assuming that means they don't pay a 2nd clerkship bonus.


I'm fairly certain that they don't, but it's a small firm and YMMV. Call recruiting if you have and offer and are thinking about this.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Thu May 01, 2014 6:30 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Anyone know Munger's policy?


I looked at my offer letter. Says $50k judicial clerkship bonus, with no mention of a second clerkship. Assuming that means they don't pay a 2nd clerkship bonus.


I'm fairly certain that they don't, but it's a small firm and YMMV. Call recruiting if you have and offer and are thinking about this.


I mean I'm pretty sure if they offered it as a matter of course they would indicate so in the offer letter. I wonder though if they ever would match the $70k if you had an alternative offer for that amount. Probably not but I wonder.

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Re: Post-Clerkship Comp Thread+Firms Paying 2nd Clerkship Bonus

Postby Anonymous User » Fri May 02, 2014 12:37 pm

Anonymous User wrote:Any info on Boies Schiller? I can't find anything on there website about bonuses period.


Boies Schiller pays 50/70 and gives full class credit.

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Re: Firms Paying 2nd Clerkship Bonus//Post-Clerkship Comp Thread

Postby Anonymous User » Fri May 02, 2014 5:42 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Anyone know Munger's policy?


I looked at my offer letter. Says $50k judicial clerkship bonus, with no mention of a second clerkship. Assuming that means they don't pay a 2nd clerkship bonus.


I'm fairly certain that they don't, but it's a small firm and YMMV. Call recruiting if you have and offer and are thinking about this.


I mean I'm pretty sure if they offered it as a matter of course they would indicate so in the offer letter. I wonder though if they ever would match the $70k if you had an alternative offer for that amount. Probably not but I wonder.


If you have an offer with them and are considering clerking twice then call and have a friendly chat with legal recruiting. They may not offer it "as a matter of course" but considering the size of the firm, the fact that compensation isn't entirely lockstep, and the fact that "peer firms" do 50/70, it wouldn't surprise me if they negotiate. It would be silly to leave 20k on the table (or walk to a less desirable firm for 20k) in order to avoid a phone call.

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Re: Post-Clerkship Comp Thread+Firms Paying 2nd Clerkship Bonus

Postby sundontshine » Sat May 03, 2014 12:55 am

Stupid question, but are the $50,000 and $70,000 bonuses paid all at once as signing bonuses, or added onto the yearly salary and paid over 26 pay periods?

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Re: Post-Clerkship Comp Thread+Firms Paying 2nd Clerkship Bonus

Postby Anonymous User » Sat May 03, 2014 2:19 am

Re: the above post...from what I know, most firms pay a lump sum at the outset. There is usually an agreement (written or otherwise) that you will stay for at least a year after receiving the bonus.

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Re: Post-Clerkship Comp Thread+Firms Paying 2nd Clerkship Bonus

Postby Citizen Genet » Sat May 03, 2014 8:24 am

sundontshine wrote:Stupid question, but are the $50,000 and $70,000 bonuses paid all at once as signing bonuses, or added onto the yearly salary and paid over 26 pay periods?


I think (emphasis on think) most firma do the lump sum with a pro rata claw back if you stay less than a year. Some firms structure it differently. Arnold and Porter, as of at least three years ago, paid 25k at the outset than an additional 25k at the year mark. Some firms (Baker Botts for example) have longer clawbacks (2 years in their case). I wouldn't be surprised if some did a monthly payment, but Ihhaven't heard of any specifically that do.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Sat May 03, 2014 12:25 pm

Updated the original post. Anyone have info on Susman, second clerkship/class credit at Munger, info on Keker & Van Nest, other lit boutiques, etc? How about Williams and Connolly?

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Sat May 03, 2014 12:37 pm


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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Sat May 03, 2014 2:20 pm

Anonymous User wrote:Updated the original post. Anyone have info on Susman, second clerkship/class credit at Munger, info on Keker & Van Nest, other lit boutiques, etc? How about Williams and Connolly?


W&C is 50/75, plus class year credit. So, someone coming off two clerkships will start at 195k and get a raise with their class year in January. Someone coming off one will start at 180k.

SG is 50/60, 175k starting, salary credit for second clerkships. Not sure about KVN.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Sat May 03, 2014 4:07 pm

I heard that Keker gives a $50k Article III bonus, regardless of the number of clerkships. There's no bump for D.Ct+COA (which is standard for most of their incoming associates). They also do not give a SCOTUS bonus. I believe clerks get class year and compensation credit, though, so someone coming in after two years of clerking would be paid as a third-year associate.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby anon919 » Thu Jun 19, 2014 7:28 am

Would love to see this thread remain updated. Bump.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby anon919 » Thu Jun 19, 2014 7:28 am

Anonymous User wrote:Would love to see this thread remain updated. Bump.

Accidental anon.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby OutCold » Thu Jun 19, 2014 9:46 am

Is standard practice to give the bonus upfront when you start at the firm or do they wait until you've been around for a year?

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Thu Jun 19, 2014 1:50 pm

OutCold wrote:Is standard practice to give the bonus upfront when you start at the firm or do they wait until you've been around for a year?


Depends. Arnold & Porter gives $25,000 (payable even before you start at the firm, but after you finish the clerkship) and $25,000 more on your 1 year anniversary with the firm.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Thu Jun 19, 2014 5:49 pm

Anyone have any knowledge about negotiating with a peer firm re: two years of clerking bonuses based on knowledge about other firm's practices? It's not clear from my firm's website whether they do the added 25k and I'd like to get that if possible...

EDIT: I see this was addressed above to an extent, my mistake. But I would still like to hear first or second-hand stories if possible

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Fri Jun 20, 2014 1:43 am

S&C pays it all lump sum on your first paycheck, no strings attached.

My clerkship lasted somewhere between 1 and 2 years and they offered me somewhere between 50k and 70k after I negotiated with them. They probably don't advertise this for obvious reasons.

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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)

Postby Anonymous User » Sat Jun 21, 2014 10:51 pm

Does anyone know about Hogan?
Last edited by Anonymous User on Thu Aug 28, 2014 11:28 am, edited 1 time in total.



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