SCOTUS clerks aren't the best law students in the country; they're simply the best connected law students in the country. Almost all SCOTUS clerks come from two law schools, and work for judges that went to their law schools. It is rare for a judge to select a clerk that didn't go to their own law school.
The federal judiciary isn't a meritocracy. It's a pissing contest between Harvard and Yale and the sooner they lose their stranglehold on the judiciary the better it will be for everyone.
So what are law firms paying for with these massive bonuses? Access, and knowledge. SCOTUS clerk almuni have access to SCOTUS judges, and knowledge of their judge's thought processes, biases, etc.
The federal judiciary isn't a meritocracy. It's a pissing contest between Harvard and Yale and the sooner they lose their stranglehold on the judiciary the better it will be for everyone.
So what are law firms paying for with these massive bonuses? Access, and knowledge. SCOTUS clerk almuni have access to SCOTUS judges, and knowledge of their judge's thought processes, biases, etc.