How to Maximize Biglaw Payout in Years 1-4 for Litigation (Clerkship Required) Forum

[Anonymous User]

Just had a random thought - for those who are looking to hit and quit BL as a litigator after an A3 clerkship, and have 0 interest in a long-term biglaw firm future or other relationship-based recruiting (e.g., AUSA), then the following should maximize your financial value as a litigator with an average to below-average A3 clerkship.

2L Summer: If eligible, get a diversity scholarship from a firm, any firm. Additional 50k or so.
Clerkship
Join Quinn: QE pays a 125k clerkship to any and all A3 clerks. For run-of-the-mill district clerks, that's 75k more than you'll see anywhere else. Not sure when that vests, but as soon as it vests ->
Lateral to Kirkland: If the market is hot, maybe you get a bonus? That's unlikely, especially for litigators, but Kirkland attorneys get a 50k referral bonus, so hit up that K&E associate from your alma mater and split the bonus. Additional 25k.

Which, all-in, leaves you up $150k in your fourth to fifth year after all the bonuses vest compared to anyone else doing generic biglaw post-clerkship. So much cash money when you leave biglaw to hang your own shingles or whatever.

[Anonymous User]

If your entire goal is just maximizing the amount of money you make, why even clerk? Clerks get what, $80k? Compared to $215k as a first-year, and that's not even factoring in how many people clerk in what would be their third or fourth year. You make up basically the same amount without having to get this lucky, unlikely diversity -> Quinn -> Kirkland scenario.

There are many upsides to doing things with your life other than just sitting in biglaw forever, but we should all be in consensus that if all you care about is money, the clear best option is just to spend in much time in biglaw as possible.

[throwawayt14]

The main benefit of clerking is that it maximizes your time in big law. You skip the years of drudge work and do something interesting, and hopefully less stressful instead - though that is judge dependent. You then maximize your years getting paid more before burning out. Ideally, clerking then leads to a more lucrative post-big law career. Clerking to try and collect bonuses before peacing out is inadvisable.

[bigboybob]

Here are my thoughts. This analysis incorporates the prospective of doing as little work as possible.

Year 1--Firm 1 (215K) (have clerkship lined up so they don't staff you too hard and let them know)
Year 2--Clerk at District Level (additional work experience at GS scale will net you an additional 20kish)
Year 3--Return to firm. Ask to come in as second year. Less stress. (225k + 50k clerkship bonus) Have another clerkship lined up for year 4, but don't tell them until mid way through the year, at which point they won't staff you too hard
Year 4--Clerk again (3 years of work experience at GS scale will be significant boost)
Year 5--Ideally lateral for firm like Quinn, huge clerkship bonus. Ask for third year. Less stress (250k + 120k clerkship bonus). Then quiet quit and plan your exit for the remainder of your time.

The following is my calculations for pay earned, assuming no annual bonuses at firms, two clerkship bonuses, and base standard pay at GS scale.

Year 1 -- 215k
Year 2 -- 71k (JSP 12, Step 1)
Year 3 -- 225k + 50k clerkship bonus
Year 4 -- 85k (JSP 13, Step 1)
Year 5 -- 250k + 120k clerkship bonus (Quinn, two year clawback, but can quiet quit)

Total for 5 years: 1,016,000 before taxes.

Now, again, this assumes no YE bonuses at a firm, or special bonuses. Additionally, this tally would be higher assuming two more years at a firm like Quinn which has a 2 year clawback. This calculation has also attempted to minimize the stress of biglaw and assumes some degree of geographic flexibility

[Anonymous User]

deleted

[TheGreatestGunner]

While fun to theorize, I do not think this strategy would ever be practical or a wise option.

The real way to do max payout would be something like
1L SA - Grades/Diversity
2L SA - Try to double dip diversity if the payout is not contingent on returning.
1A + Bonus
2A + Bonus
3A + Bonus
4A + Bonus
Clerkship 1
6A + Bonus + Clerkship Bonus
Clerkship 2 (Optional)
8A/Counsel + Bonus + Clerkship Bonus
Go to Exit Option When Practical

As a practical matter, time in BigLaw is more income than anywhere else and Clerkship bonuses have not kept pace with associate salaries. You do not ever want to move down a year. The idea that a firm will not "staff you too hard" or that there will be "less stress" is delusional. If I learned an associate was on the way out, I would work them as hard as possible, worst case, I would stick them on doc review and insulate them from the more involved work or anything client facing. If there is work, then you will get it, so taking less pay will do nothing for you. This can depend a bit on firm culture.

Longer term-- if you seriously did Firm one year, clerkship next, new firm second year, clerkship next, new firm after that (and "quiet quit") you would have no real references for your exit option and look like an enormous flight risk. All your references would likely feel burned, other than the judges, and judges are more useful as BL references than corporate references. Maybe government, but even DOJ/State AG would wonder why you cannot stay at the same place for more than a year.

Worse, the work of associates and their value does not increase until mid-level anyways. Also add in all of your moving costs and stress.

Its far better to use the Clerkships to advance years, particularly the hardest years, and try to get to Counsel faster, while still picking up the work experience. Then transition to AG/SAG/Gov/In-House roles with work life balance and a recession-proof resume.

[bajablast]

Just had a random thought

I find it hard to believe you just had this thought, and don't know how it's random lol

[Anonymous User]

Not sure that going to Quinn and billing 300 more hours than everyone else is quite the optimization move OP thinks it is