Summer Associate Class of 2015

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JohannDeMann
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Re: Summer Associate Class of 2015

Postby JohannDeMann » Thu Jul 30, 2015 5:01 pm

Desert Fox wrote:
BigZuck wrote:So this pretty much confirms NYCCHICAGO to 190K right?


Had no idea the Chicago market was this hot right now. I'm actually beginning to rethink my raise position that NY wouldnt touch 190. I mean 30 weeks of that is $48,000. basically a sort of junior raise move.

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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 5:05 pm

BigZuck wrote:
Anonymous User wrote:
beepboopbeep wrote:
jbagelboy wrote:
cusenation wrote:
jbagelboy wrote:
Anonymous User wrote:Kirkland Chicago just offered all its summers a choice to be clerks during the year and make $80 an hour for 20 hours a week.


Holy shit
ETA: I'm assuming this means the Chicago based students, and not schools in other cities? Or are they allowing remote work?

They are allowing remote work since it was offered to all summers. Too lazy to do anon on phone fuck it.


That's legitimately fucking crazy. Congrats to all the KE chi summers. Wow.


Yea holy shit that's sweet. Hope it inspires others, but not holding my breath.


Probably too much to hope that other firms do this, but if Kirkland New York followed suit, I'd jump on my offer for next summer in a heartbeat.

On balance, in balance


I have legit no clue what you mean by this.

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beepboopbeep
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Re: Summer Associate Class of 2015

Postby beepboopbeep » Thu Jul 30, 2015 5:07 pm


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jbagelboy
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Re: Summer Associate Class of 2015

Postby jbagelboy » Thu Jul 30, 2015 5:13 pm

its also an interesting comment on the utter uselessness/futility of 3L.

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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 5:14 pm

*accidental double post
Last edited by Anonymous User on Thu Jul 30, 2015 5:15 pm, edited 1 time in total.

sephrenia300
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Re: Summer Associate Class of 2015

Postby sephrenia300 » Thu Jul 30, 2015 5:14 pm

Anonymous User wrote:https://www.youtube.com/watch?v=XgSJUzYCGtc

the person who said it died


Of...a placental bleed after she started her own law firm in Atlanta? Still confused as to the meaning of referencing this.

FSK
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Re: Summer Associate Class of 2015

Postby FSK » Thu Jul 30, 2015 5:15 pm

I'm pretty jealous of that opportunity. That's alot of money...

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skers
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Re: Summer Associate Class of 2015

Postby skers » Thu Jul 30, 2015 5:21 pm

El Pollito wrote:they're probably doing it bc they're exceptionally busy, so unlikely that other firms or even other offices will follow


I'm sure part of it is that they're slammed, but if they really needed the help I would think they'd probably just hire more laterals instead of a bunch of summers who still don't really know what they're doing.

BigZuck
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Re: Summer Associate Class of 2015

Postby BigZuck » Thu Jul 30, 2015 5:22 pm

beepboopbeep wrote:https://www.youtube.com/watch?v=XgSJUzYCGtc

the person who said it died

Hadn't seen that in a long time, I was thinking it was the blonde guy who has a hard time forcing himself to say his life is in balance was the one who said that line.

Sorry, wasn't meaning to make fun of a dead person

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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 5:25 pm

Schulte gave 100% offers today. That's awesome for the Kirkland bros

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JohannDeMann
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Re: Summer Associate Class of 2015

Postby JohannDeMann » Thu Jul 30, 2015 5:28 pm

flawschoolkid wrote:I'm pretty jealous of that opportunity. That's alot of money...


I honestly think they'll be making more hourly than most 2nd years. I haven't done the math, but pretty sure it checks out. The firm will profit from it for sure but it's not a huge major winning proposition. It's definitely more of a play to lock up junior talent and not let them leave 3L OCI, some more sweet recruiting to show KE is above the rest, and then the kicker is the firm gets to profit without having to do this in the future (ie lockstep raise). That being said its specifically targeted at the most junior people. Pretty badass move and I think it will def impact the market ( tryingto play through the scenarios in my head).

The thing I'd most like to see is a huge bonus splash. Probably the way to get the most out of the firms at this point if you can milk the extra cash they are sitting on now. Bonuses for first years in the 30k low end range 50k high end range is the ideal scenario (imo).

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skers
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Re: Summer Associate Class of 2015

Postby skers » Thu Jul 30, 2015 5:36 pm

JohannDeMann wrote:
flawschoolkid wrote:I'm pretty jealous of that opportunity. That's alot of money...


I honestly think they'll be making more hourly than most 2nd years. I haven't done the math, but pretty sure it checks out. The firm will profit from it for sure but it's not a huge major winning proposition. It's definitely more of a play to lock up junior talent and not let them leave 3L OCI, some more sweet recruiting to show KE is above the rest, and then the kicker is the firm gets to profit without having to do this in the future (ie lockstep raise). That being said its specifically targeted at the most junior people. Pretty badass move and I think it will def impact the market ( tryingto play through the scenarios in my head).

The thing I'd most like to see is a huge bonus splash. Probably the way to get the most out of the firms at this point if you can milk the extra cash they are sitting on now. Bonuses for first years in the 30k low end range 50k high end range is the ideal scenario (imo).


I'm guessing that the number of people who do 3L OCI with a Kirkland offer is very close to zero. I'm guessing they're letting people who clerk do it too, so it's not even a recruiting pitch for those people. Paying a bunch of summers better than 2nd year salary is insane. Totally agree with you though that it's pretty awesome to see something targeted towards juniors though.

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JohannDeMann
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Re: Summer Associate Class of 2015

Postby JohannDeMann » Thu Jul 30, 2015 5:47 pm

skers wrote:
JohannDeMann wrote:
flawschoolkid wrote:I'm pretty jealous of that opportunity. That's alot of money...


I honestly think they'll be making more hourly than most 2nd years. I haven't done the math, but pretty sure it checks out. The firm will profit from it for sure but it's not a huge major winning proposition. It's definitely more of a play to lock up junior talent and not let them leave 3L OCI, some more sweet recruiting to show KE is above the rest, and then the kicker is the firm gets to profit without having to do this in the future (ie lockstep raise). That being said its specifically targeted at the most junior people. Pretty badass move and I think it will def impact the market ( tryingto play through the scenarios in my head).

The thing I'd most like to see is a huge bonus splash. Probably the way to get the most out of the firms at this point if you can milk the extra cash they are sitting on now. Bonuses for first years in the 30k low end range 50k high end range is the ideal scenario (imo).


I'm guessing that the number of people who do 3L OCI with a Kirkland offer is very close to zero. I'm guessing they're letting people who clerk do it too, so it's not even a recruiting pitch for those people. Paying a bunch of summers better than 2nd year salary is insane. Totally agree with you though that it's pretty awesome to see something targeted towards juniors though.


What I'm trying to determine is whether (1) Kirkland is so slammed they need them to do this work or (2) they are making a pitch at juniors because they value junior talent. It has to be one of the 2 or a mixture of those 2 factors, but that's the only reasoning I see for the move.

Anonymous User
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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 5:47 pm

Do we have any more confirmation on this besides one post?

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JohannDeMann
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Re: Summer Associate Class of 2015

Postby JohannDeMann » Thu Jul 30, 2015 5:49 pm

Anonymous User wrote:Do we have any more confirmation on this besides one post?


No but seems like something dumb to lie about and dude was not anon.

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chuckbass
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Re: Summer Associate Class of 2015

Postby chuckbass » Thu Jul 30, 2015 5:49 pm

Anonymous User wrote:Do we have any more confirmation on this besides one post?

The person that made the post is 100% reliable.

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skers
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Re: Summer Associate Class of 2015

Postby skers » Thu Jul 30, 2015 5:52 pm

JohannDeMann wrote:
skers wrote:
JohannDeMann wrote:
flawschoolkid wrote:I'm pretty jealous of that opportunity. That's alot of money...


I honestly think they'll be making more hourly than most 2nd years. I haven't done the math, but pretty sure it checks out. The firm will profit from it for sure but it's not a huge major winning proposition. It's definitely more of a play to lock up junior talent and not let them leave 3L OCI, some more sweet recruiting to show KE is above the rest, and then the kicker is the firm gets to profit without having to do this in the future (ie lockstep raise). That being said its specifically targeted at the most junior people. Pretty badass move and I think it will def impact the market ( tryingto play through the scenarios in my head).

The thing I'd most like to see is a huge bonus splash. Probably the way to get the most out of the firms at this point if you can milk the extra cash they are sitting on now. Bonuses for first years in the 30k low end range 50k high end range is the ideal scenario (imo).


I'm guessing that the number of people who do 3L OCI with a Kirkland offer is very close to zero. I'm guessing they're letting people who clerk do it too, so it's not even a recruiting pitch for those people. Paying a bunch of summers better than 2nd year salary is insane. Totally agree with you though that it's pretty awesome to see something targeted towards juniors though.


What I'm trying to determine is whether (1) Kirkland is so slammed they need them to do this work or (2) they are making a pitch at juniors because they value junior talent. It has to be one of the 2 or a mixture of those 2 factors, but that's the only reasoning I see for the move.


I really don't see how the solution to being slammed is paying a bunch of summers what equals better than 2nd year hourly pay, rather than just hiring more laterals.

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BaberhamLincoln
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Re: Summer Associate Class of 2015

Postby BaberhamLincoln » Thu Jul 30, 2015 5:58 pm

In the middle of PLIP I got a call from my SA giving me a 2L offer! :)

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JohannDeMann
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Re: Summer Associate Class of 2015

Postby JohannDeMann » Thu Jul 30, 2015 5:58 pm

i agree.
just for overkill on the analysis though - it would only make sense if you thought you were particularly busy at this moment in time and would be for the next year, but then the work may dry up and you would not want to have extra headcount on your books being under utilized.

another option is and this is best possible scenario - KE tried to cover the gap with laterals, but couldn't do it. They couldn't find enough qualified laterals, so they had to reach out to their most junior folks. That would mean the long-term work flow is there, they were spurned by mid-levels and turned to their last possible option, the juniors. Those partner meetings probably have a lot of talk going on right now about how the economy shifted from juniors having no leverage in 2011 to today having to have their antenna peaked for the junior rumblings.

Good job, guys. I'm gonna pack it up and head home for the day with 3 hours billed.

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beepboopbeep
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Re: Summer Associate Class of 2015

Postby beepboopbeep » Thu Jul 30, 2015 6:07 pm

skers wrote:I really don't see how the solution to being slammed is paying a bunch of summers what equals better than 2nd year hourly pay, rather than just hiring more laterals.


do you get good publicity right before OCI by hiring laterals

edit: nvm i see what you mean. the junior talent explanation makes more sense than the workflow one. wasn't considering what you were responding to
Last edited by beepboopbeep on Thu Jul 30, 2015 6:11 pm, edited 1 time in total.

Anonymous User
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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 6:08 pm

Weil gave out 100% offers today, as well

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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 6:09 pm

Proskauer gave 100% as well

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skers
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Re: Summer Associate Class of 2015

Postby skers » Thu Jul 30, 2015 6:10 pm

beepboopbeep wrote:
skers wrote:I really don't see how the solution to being slammed is paying a bunch of summers what equals better than 2nd year hourly pay, rather than just hiring more laterals.


do you get good publicity right before OCI by hiring laterals


Don't know if you could have missed the point here harder, dude.

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beepboopbeep
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Re: Summer Associate Class of 2015

Postby beepboopbeep » Thu Jul 30, 2015 6:11 pm

skers wrote:
beepboopbeep wrote:
skers wrote:I really don't see how the solution to being slammed is paying a bunch of summers what equals better than 2nd year hourly pay, rather than just hiring more laterals.


do you get good publicity right before OCI by hiring laterals


Don't know if you could have missed the point here harder, dude.


literally edited my post as this was being posted

Anonymous User
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Re: Summer Associate Class of 2015

Postby Anonymous User » Thu Jul 30, 2015 6:17 pm

Desert Fox, how did Latham call you out for using them as a safety?




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