Law Sauce wrote:Moxie wrote:but there's a reason people would kill to go to firms like W&C, Kellog Huber, etc.
Yea but unless Im wrong, money isnt the biggest reason people want these ultra prestigious firms. Bonuses may be higher, but starting pay is similar and reaching partner is harder/impossible. Maybe reaching partner at a different firm is easier after you leave W&C?
Well W&C pays a higher salary (and is currently even more than NYC Biglaw salary + bonuses). Susman and Wachtell offer significantly better bonuses than NYC Biglaw, and while I can't find information on Kellogg Huber and similar firms, I imagine they at least match NYC biglaw, and most likely provide higher salaries. Plus, associates that join those firms after clerkships will get a $50,000 or $70,000 bonus (or $250,000 if coming from SCOTUS clerkship), so there's a big financial benefit.
And these "boutiques" often offer better partnership prospects than NYC Biglaw, I'm not sure what would make you think otherwise. Odds aren't good in either situation, but considering the huge summer classes NYC Biglaw firms bring in and how few partners they name every year, they can't be worse anywhere else. (Plus using an example, W&C almost never takes laterals, so all promoted partners have been with the firm since their clerkship ended)
A3 is an Article III clerkship, with US Court of Appeals circuits or a US District Court.
Edit to say: people want these "ultra-prestigious firms" for the prestige and stability. I'm sure money is a factor for many, since their higher salaries are not going to be affected by the economy the way Biglaw bonuses have been.