Cravath, known for its distinguished stature in Biglaw compensation, has historically lagged in clerkship bonuses compared to its counterparts. While litigation boutiques and select Biglaw firms have been setting the bar with six-figure bonuses for attorneys completing federal clerkships, Cravath is now stepping up its game.
Generous Bonuses at Cravath
Recent observations from keen-eyed insiders revealed an update on the Cravath website regarding clerkship bonuses:
- Incoming associates who have finished a qualifying clerkship are entitled to a bonus of $125,000.
- Those who have completed a two-year or two-year clerkship will receive a higher bonus of $150,000 (replacing the $125,000 bonus).
- Incoming associates gain a year of compensation credit, up to two years, for each year spent in clerking.
- Associates with a U.S. Supreme Court clerkship (alongside at least one other qualifying clerkship) receive an additional bonus and two years of class credit for all purposes.
This significant bonus increase marks a compelling incentive for attorneys eyeing Cravath’s post-clerkship.
Competitive Landscape
While Cravath’s enhanced bonuses make it a more attractive destination, other firms have also been offering lucrative incentives to former clerks:
- Susman Godfrey leads the pack with bonuses of $125,000 for one clerkship and $150,000 for two.
- Dovel & Luner, a California plaintiffs firm, offers an impressive $140,000 clerkship bonus.
- Quinn Emanuel provides a $105,000 bonus for clerkship experience, with an additional $20,000 for completing a second qualifying clerkship.
- Robins Kaplan offers $100,000 bonuses to former federal clerks.
- Fish & Richardson, although with stricter criteria, offers $115,000 bonuses to former clerks with Federal Circuit experience and two years of clerkship service.
- Munger Tolles pays $80,000 for a single federal clerkship and $105,000 for those with two federal clerkships.
- Hueston Hennigan provides $125,000 to former clerks.
- Boies Schiller offers a $110,000 signing bonus to federal law clerks.
Cravath’s strategic move to enhance its clerkship bonuses in this competitive landscape aims to position itself as a top contender in attracting and retaining top legal talent.
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