If money ($125k) job is what you're looking for, you are probably better off going to a different school. GW, BU, BC, USC, maybe WUSTL and Emory are schools from which it is to land biglaw jobs. Most UMN students stay in MSP (~60%). Many students clerk (traditionally about 25%), with a decent number of federal clerkships, mostly at the district level.
Chicago is probably the best bet for biglaw jobs, with California a close second. UMN Law uses quartiles, so top 1/4 are usually in the running for biglaw, especially in Chicago. Outside of the top 1/4, I've heard it gets harder. The same can be said about the above schools that I mentioned, but you also have more firms interviewing at those schools.
UMN does host a NY, DC, California, and Chicago career fair, so at least you get a chance.
With all that said, UMN's faculty is very strong, and about to get stronger with many new hires. I think they have hired four new profs, and are trying to hire up to 9 within the next year. Two of UMN's most scholarly professors left for Boalt Hall after a long tenure at UMN. This is what everyone is referring to when they say top schools have been raiding the faculty. The law school is located in a very cool urban environment. Some people rip on MSP, but I've lived everywhere, and I think it's a great place, albeit, I haven't spent too much time there.
I am starting in two weeks, so take my information for what it's worth - someone who hasn't spent a day in law school.