Kirkland Bonuses? Forum

[rpupkin]

Did anyone else figure this out. Lateraled to Kirkland in October last year. Hours are based June to June. Am I going to get screwed out of 25% of my bonus?

This is the kind of you thing you should ask about when negotiating your hire.

They probably won't give you an above-market bonus, but if you've billed an exceptional number of hours in your 10 months (or if they really like you), you could get something extra.

[Anonymous User]

Did anyone else figure this out. Lateraled to Kirkland in October last year. Hours are based June to June. Am I going to get screwed out of 25% of my bonus?

This is the kind of you thing you should ask about when negotiating your hire.

They probably won't give you an above-market bonus, but if you've billed an exceptional number of hours in your 10 months (or if they really like you), you could get something extra.

I definitely should have talked about it then, but I didn't realize I could lose several months of 2017 bonus when I worked here all 12 months. I worked here two solid months before bonuses were paid out last year.

End of August is better though. I came in halfway through October. That's only 12.5% loss. Considering MARKET SHATTERING I'll probably be close to Cravath anyway.

[Anonymous User]

K&E NY just had their bonus townhall. Headlines are that bonuses start at 105% of market and average around 1.3x to 1.5x market. Looks like some bonuses were substantially above 1.5x for high hours/high rating. I imagine the individual bonus calls will start going out tomorrow.

[Anonymous User]

Did anyone else figure this out. Lateraled to Kirkland in October last year. Hours are based June to June. Am I going to get screwed out of 25% of my bonus?

This is the kind of you thing you should ask about when negotiating your hire.

They probably won't give you an above-market bonus, but if you've billed an exceptional number of hours in your 10 months (or if they really like you), you could get something extra.

I definitely should have talked about it then, but I didn't realize I could lose several months of 2017 bonus when I worked here all 12 months. I worked here two solid months before bonuses were paid out last year.

End of August is better though. I came in halfway through October. That's only 12.5% loss. Considering MARKET SHATTERING I'll probably be close to Cravath anyway.

Got my numbers. Still not sure how it works, but I barely beat Cravath un-prorated for my year. My hours were slow the first six months, so I'm guessing they just didn't prorate.

[Anonymous User]

Is the $10k stipend that Kirkland gives taxed up front? Ie. after taxes you only get about $5k-$6k for bar prep?

[Anonymous User]

Is the $10k stipend that Kirkland gives taxed up front? Ie. after taxes you only get about $5k-$6k for bar prep?

Treated as a bonus, so yes its taxed up front.

[MillllerTime]

Is the $10k stipend that Kirkland gives taxed up front? Ie. after taxes you only get about $5k-$6k for bar prep?

Treated as a bonus, so yes its taxed up front.

Maybe this changed in the past few years, but I remember receiving $10k even. We definitely got hit with extra taxes on the first couple paychecks though.

[Anonymous User]

You'll receive a 10k (in full) check in June (or whenever). The tax withholding for that 10k will come out of our December checks. Also just ask recruiting.

[Anonymous User]

So, Kirkland shatters?

[Anonymous User]

You'll receive a 10k (in full) check in June (or whenever). The tax withholding for that 10k will come out of our December checks. Also just ask recruiting.

That wasn’t the case this year for my KE office/stipend.

[Anonymous User]

I was definitely taxed up front on my stipend.

[Anonymous User]

Hmm, i was the anon above, but maybe my info is out of date. Either way, just ask your recruiter. They know.

[Anonymous User]

Midlevel lateral that began in summer 2016, good ratings, hours are fine-ish (2100), barely beat Cravath, not sure what's going on here.

[Anonymous User]

Midlevel lateral that began in summer 2016, good ratings, hours are fine-ish (2100), barely beat Cravath, not sure what's going on here.

see gif above

[Anonymous User]

Midlevel lateral that began in summer 2016, good ratings, hours are fine-ish (2100), barely beat Cravath, not sure what's going on here.

What office and what practice group?

[Anonymous User]

Accidental double post.

[Anonymous User]

Midlevel lateral that began in summer 2016, good ratings, hours are fine-ish (2100), barely beat Cravath, not sure what's going on here.

What office and what practice group?

And did you get a 2 or a 3?

[MillllerTime]

The bonus presentation was actually pretty exciting and comical this year. They built us up with a presentation about how we're the best firm that ever was, revenue is gonna be over $3B this year and said bonuses would reflect that... then the punch line was that bonuses would be exactly the same as last year except they added a whopping 5% to everyone. Shattered indeed.


As for the lateral above, guess it depends what you consider "barely beating" Cravath. Based on numbers I've heard, 2100 should be about 1.3x with an average rating.

[Anonymous User]

Future KE summer, saw this on ATL

"Just found out the hard way that if you have a below class rating, your bonus is 0.5x Cravath."

How many people have below class rating? That really sucks. I thought baseline at 1.05 Cravath meant no one went below that.

[rpupkin]

Future KE summer, saw this on ATL

"Just found out the hard way that if you have a below class rating, your bonus is 0.5x Cravath."

How many people have below class rating? That really sucks. I thought baseline at 1.05 Cravath meant no one went below that.

To be fair to Kirkland, when they say that their bonuses shatter the market, they don't specify whether they're shattering the ceiling or the floor.

[Anonymous User]

Midlevel lateral that began in summer 2016, good ratings, hours are fine-ish (2100), barely beat Cravath, not sure what's going on here.

What office and what practice group?

And did you get a 2 or a 3?

Different anon. Around 2100, 3 rating (like we almost all got), and just a little over 1.2. Any other KE anon data points?

[Anonymous User]

Midlevel 2 rating/2200~ hours. 1.5x Cravath almost on the nose. Incredibly happy.

[Anonymous User]

Midlevel 2 rating/2200~ hours. 1.5x Cravath almost on the nose. Incredibly happy.

Yeah that sounds right for a 2 rating, which appears attainable once you get to be a more 'senior' midlevel. Thanks for sharing! Let's get some more data points.

[Anonymous User]

Junior associate, ~2500 hours, 3 rating (like all juniors get), >1.5x market. Pretty stoked about it.

[Anonymous User]

Future KE summer, saw this on ATL

"Just found out the hard way that if you have a below class rating, your bonus is 0.5x Cravath."

How many people have below class rating? That really sucks. I thought baseline at 1.05 Cravath meant no one went below that.

Below class means “leave.” I’m surprised they get anything.