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Lucky enough to be considering offers from all three. MoFo is SF office.

-Want general corporate, would like to try all practice groups (M&A, startups, etc.)
-Fenwick bonuses last year are a concern for me, as well as Gunderson's long-term stability

Thanks in advance for any advice.

If you want to keep possibilities of corporate across all practice group open, then Gunderson probably is the first crossed off the list. They do primarily startup work, and often times once a startup matures or gets big enough to consider IPO or M&A, they'll find counsel with Fenwick or Wilson.

Between Fenwick and MoFo, two factors you should consider:
1. What sort of corporate clients would you be interested in? If you're at all interested in tech companies (which is a common interest since it's the Bay Area, after all), Fenwick specializes almost exclusively in tech, whereas MoFo is more well-rounded, but has only a marginal presence in the tech sphere.

2. Location. If you choose Fenwick, you'll be in Mountain View for at least half your summer, and for at least a couple years as a full-time associate. If you're a dedicated city slicker, then the commute between Silicon Valley and SF is going to be...undesirable. If you don't care, or if you're a suburban mallrat (like me), then Fenwick has the edge, IMO.

I can't speak to the bonus situation anywhere, but for me, I didn't place too high of an emphasis on it when I was mulling offers. The most likely outcome at these top-shelf Bay Area firms, and in fact, the target outcome for many associates (one that's openly accepted and even encouraged at these firms), is exit to in-house within 5 years. Even if Fenwick's bonuses are slightly behind the other firms, my guess is you won't be getting short-changed by much during the first few years. By the time the difference in bonus amount actually becomes significant (i.e., as a midlevel when the lockstep salaries also take a big jump), you'll probably be moving over to Uber or Apple or that startup that you represented from their series seed way back in the day.

Unrelated: MoFo gave Apple Watches to all their summers this year. Not saying that should play a role in your decision. Just sayin'.

If Gunderson didn't fall in the last crisis, they likely have the staying power and management smarts to keep executing and staying alive for at least the duration of your associate career, so I wouldn't worry about it,

Gunderson: Excellent at start-ups/VC, so so at M&A and cap markets.

MoFo: Excellent at M&A, so so at cap markets and not really a big player in start-ups/VC.

Fenwick: Excellent at start-ups, great at M&A and cap markets, but bad bonuses.

OP - have you considered SommerUdall?

Bump. Thanks for everyone's help. Would going to Gunderson or Fenwick limit my future lateral opportunities to other firms at least in CA?

It's rare to see someone from Fenwick move to another law firm. I don't think it's because of lack of lateral prospects, though, so much as it is they usually get poached by in-house departments first.

Anonymous User wrote:Bump. Thanks for everyone's help. Would going to Gunderson or Fenwick limit my future lateral opportunities to other firms at least in CA?

Depends on the market and your experience. If you accumulate enough experience on cutting edge IPOs or M&A, no reason why a DPW or an STB or a Skadden wouldn't hire you (and in many respects the local SV firms sometimes get bigger ticket work). But these moves are rare because it's a lose lose proposition: You desire to go from one firm to another firm with shittier hours, slightly better pay, and worse partnership prospects? And exit options don't necessarily get better (the brand names of Latham, WSGR, Fenwick, Gunderson are easily on par with the V5 for going inhouse, unless you want to go to a bank maybe... in which case why arent u practicing in NYC???

Associates don't typically leave Fenwick or Gunderson for other biglaw firms. I've seen associates leave for places like Buchalter Nemer (more mid-law-ish), Silicon Legal Strategy, inhouse at big tech co, inhouse at startup, inhouse at VC, etc. but it's truly rare to see associates go from gunderson to say stb. and it has nothing to do with selectivity. largely just self selection.