Clerkship Bonus Increase Forum

[Anonymous User]

Since there does not seem to be any thread on this yet, I'll get it started:

https://abovethelaw.com/2024/03/cravath ... s-that-is/

Any chance other firms match?

[Anonymous User]

I feel like the rest of the V10 basically has to? 75k difference for a one-time clerk means there is basically little reason DPW or S&C will ever win out over Cravath for clerks.

[Anonymous User]

Since there does not seem to be any thread on this yet, I'll get it started:

https://abovethelaw.com/2024/03/cravath ... s-that-is/

Any chance other firms match?

If generic biglaw cares at all about recruiting clerks, then it has to match this. There are increasingly more options for clerks outside of biglaw. And people aren’t just going to overlook a 75k difference. But frankly I don’t know that generic biglaw cares much about getting top litigation talent anyway, so I wouldn’t be surprised if few firms match. It’s kinda wild that most firms are still offering clerks the same signing bonus that they offered a decade ago.

[Anonymous User]

A fresh out of school clerk makes $72,500 in one year of clerking (without location adjustments; a clerk in NYC makes $85,000). Add on a $125,000 bonus and the all-in comp for that year is about $200k. It's still not biglaw pay, but it's not nearly as large a gap as it has been while clerking bonuses didn't keep up with salary increases. A one-year clerk makes about half as much all-in as a first-year associate now everywhere except Cravath. This is a big change.

[Anonymous User]

Still no news?

[Anonymous User]

Anyone heard anything here?

[Anonymous User]

Since there does not seem to be any thread on this yet, I'll get it started:

https://abovethelaw.com/2024/03/cravath ... s-that-is/

Any chance other firms match?

If generic biglaw cares at all about recruiting clerks, then it has to match this. There are increasingly more options for clerks outside of biglaw. And people aren’t just going to overlook a 75k difference. But frankly I don’t know that generic biglaw cares much about getting top litigation talent anyway, so I wouldn’t be surprised if few firms match. It’s kinda wild that most firms are still offering clerks the same signing bonus that they offered a decade ago.

Jenner is giving 70k for two federal clerkships. even if one is appellate.

[meaculpa123]

I can’t believe nowhere else has moved yet???

[Anonymous User]

I can’t believe nowhere else has moved yet???

Honestly, this might just reflect the reality that for most biglaw firms, a clerkship is a nice website/marketing line but not much more. At least at the V5 where I summered, people paid a lot of lip service to clerkships (and most partners clerked) and certain former clerks got more writing opportunities. But on the whole, it didn't seem to be viewed as more valuable than a year of experience at the firm.

Which makes some sense when you consider the typical workload of a 2nd year biglaw litigation associate vs. 2nd year boutique associate.

[Anonymous User]

I don't want to name the firm because the post-clerkship hiring world is very small and I don't want to out myself. But I've accepted a position at a V10 (not Cravath) that just raised their clerkship bonus for a 1-year district court clerkship from $50K to $125K. They raised the clerkship bonus while I was in the middle of the interview process.

[Anonymous User]

I don't want to name the firm because the post-clerkship hiring world is very small and I don't want to out myself. But I've accepted a position at a V10 (not Cravath) that just raised their clerkship bonus for a 1-year district court clerkship from $50K to $125K. They raised the clerkship bonus while I was in the middle of the interview process.

Please be GDC

[rubixcube02]

I don't want to name the firm because the post-clerkship hiring world is very small and I don't want to out myself. But I've accepted a position at a V10 (not Cravath) that just raised their clerkship bonus for a 1-year district court clerkship from $50K to $125K. They raised the clerkship bonus while I was in the middle of the interview process.

Please be GDC

Anon who posted about a non-Cravath V10 firm raising its clerkship bonus to $125k for one, would you mind sending me a DM? I'm a current clerk trying to determine if I should try to negotiate a higher clerkship bonus.

[Anonymous User]

I don't want to name the firm because the post-clerkship hiring world is very small and I don't want to out myself. But I've accepted a position at a V10 (not Cravath) that just raised their clerkship bonus for a 1-year district court clerkship from $50K to $125K. They raised the clerkship bonus while I was in the middle of the interview process.

You don't have too if you don't want to, but if possible could you confirm that said V10 firm is not Wachtell?

[Anonymous User]

as far as i know, wachtell doesn't give clerkship bonuses.

[Anonymous User]

I accepted a post-clerkship offer at a v10 NYC firm before the Cravath news. I would rather not leave money on the table but haven't yet approached. Has anyone had luck in my situation?

[Anonymous User]

I accepted a post-clerkship offer at a v10 NYC firm before the Cravath news. I would rather not leave money on the table but haven't yet approached. Has anyone had luck in my situation?

I'm in your exact same position. It's so unfair that we have less perceived leverage because we accepted the offer before the market moved. I'm going to ask my firm for an increase and would encourage you to do the same. There's still a lot of time left until the fall

[The Lsat Airbender]

I accepted a post-clerkship offer at a v10 NYC firm before the Cravath news. I would rather not leave money on the table but haven't yet approached. Has anyone had luck in my situation?

I'm in your exact same position. It's so unfair that we have less perceived leverage because we accepted the offer before the market moved.

I'm rooting for you guys, but this is how all transactions work. You accepted an offer at the old rate. That you have leverage to negotiate at all (by threatening to go to a different firm) is a lucky thing and should be wielded carefully