Munger, Tolles & Olson LLP

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.