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Munger, Tolles & Olson LLP

Unverified

Los Angeles, CA

About

Munger Tolles & Olson, co-founded by legendary investor Charlie Munger, is the most profitable law firm in the country on a per-partner basis at $5.3M PPP -- and with only 200 attorneys, it operates more like a think tank staffed by elite lawyers than a traditional BigLaw firm. This is the firm for people who want the absolute best work in the smallest possible setting.

Munger Tolles is widely regarded as the top litigation firm in California, handling bet-the-company trials, complex commercial disputes, and high-profile investigations for a client base that reads like a Fortune 50 roster. The firm's corporate practice, while smaller, handles sophisticated transactions for institutional clients who value discretion and depth over volume. With no billable hour requirement and $5.3M in profits per partner, the economics speak for themselves. The free-market system means every attorney works on matters they choose, and the small size ensures every case gets the firm's best talent.

Munger Tolles' culture is intellectual, egalitarian, and intensely focused on quality over quantity. With 200 attorneys, everyone knows everyone, and the mentorship is not a program -- it is a natural consequence of working alongside some of the best lawyers in the country on a daily basis. Associates report extraordinary autonomy and responsibility, with junior lawyers taking depositions and arguing motions far earlier than peers at larger firms. The summer program is tiny at roughly 33 associates with a 96% offer rate. Notably, the firm has restructured its summer program to emphasize long-term relationship building.

Munger Tolles conducts OCIs at a select group of top law schools including Harvard, Yale, Stanford, Columbia, Chicago, Michigan, Penn, Berkeley, UCLA, Loyola, and USC. The firm is extremely selective, generally expecting top-10% grades at T10 schools. The hiring process takes an average of 36 days. Be prepared for a rigorous intellectual conversation rather than a standard behavioral interview. The firm wants to see how you think, not just what you have done. If you can demonstrate the kind of intellectual curiosity and independent thinking that built this firm, you belong here.

Recruiting & Summer Program

Summer Class Size

33 associates

Summer Offer Rate

96%

Billable Hours

No formal requirement

Practice Areas & Rankings

Source: Chambers USA 2026 Rankings

Practice AreaBandJurisdictions
Appellate LitigationBand 1Nationwide
Commercial LitigationBand 1California
Energy / InfrastructureBand 1California
Entertainment / Media / SportsBand 1California
AntitrustBand 2California
Appellate LitigationBand 2California
Capital Markets / SecuritiesBand 2California
Labor & EmploymentBand 2California
White Collar DefenseBand 2Nationwide, California
Intellectual Property (General / Trademark)Band 3Nationwide, California
Restructuring / BankruptcyBand 3California
Capital Markets / SecuritiesBand 4Nationwide
Intellectual Property (Patent)Band 4California

Firm Profile

Vault Rank (2026)

#29

AmLaw Rank (FY2025)

#96

Founded

1962

Chair / Managing Partner

Martin Estrada

Attorneys

~200

Billable Hours Target

No formal requirement

Summer Class Size (2025)

~30

Revenue per Lawyer (FY2025)

$2.10M

1st-Year Total Comp (2026)

$245,000+

Offices (3 locations)

Los Angeles, CA(HQ)
San Francisco, CA
Washington DC, DC
Visit firm website

Data sources: Financial data from AmLaw 200, FY2025. Practice area rankings from Chambers USA 2026. Summer program data from Chambers Associate 2026. Office locations from firm websites. Last verified: March 27, 2026. View our data methodology