Kirkland Megathread Forum

[Anonymous User]

The firm just announced they did $6 billion in revenue last year. Apparently Latham has been in the press because they were the "first" firm to exceed $5 billion in revenue and K&E came over the top by over $500 million. Truly insane. For a point of historical reference, Skadden led the industry by revenue in 2000 with about $1 billion.

K&E's 25.1% growth in gross revenue is just insane!

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

Every decision the firm makes is meant to maximize the income of the partnership. They will pay associates just enough to attract and retain just as many people as they think they need, and not a dollar more, because that would go against the main goal.

This isn’t some cynical take by the way. It’s the only rational way a megafirm can operate. This is American capitalism baby.

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

Every decision the firm makes is meant to maximize the income of the partnership. They will pay associates just enough to attract and retain just as many people as they think they need, and not a dollar more, because that would go against the main goal.

This isn’t some cynical take by the way. It’s the only rational way a megafirm can operate. This is American capitalism baby.

How is that different from, say, WLRK or P,W or other top NYC Big Law Shops? I'm genuinely curious. Those firms are smaller and pay associates more, but it's not because they want to share the wealth more than K&E wants the share the wealth. They just have a different sense of how to achieve their goal, of maximizing $$ for partners. Isn't it at bottom the same mentality, just different approaches in terms of implementation of that same goal of maximizing money for partners?

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

Every decision the firm makes is meant to maximize the income of the partnership. They will pay associates just enough to attract and retain just as many people as they think they need, and not a dollar more, because that would go against the main goal.

This isn’t some cynical take by the way. It’s the only rational way a megafirm can operate. This is American capitalism baby.

How is that different from, say, WLRK or P,W or other top NYC Big Law Shops? I'm genuinely curious. Those firms are smaller and pay associates more, but it's not because they want to share the wealth more than K&E wants the share the wealth. They just have a different sense of how to achieve their goal, of maximizing $$ for partners. Isn't it at bottom the same mentality, just different approaches in terms of implementation of that same goal of maximizing money for partners?

Not exactly. All partnerships are generally trying to bring in good income but not all of them go about it with the maniacal ruthlessness and aggressiveness that Kirkland does. At your white shoe firms of yore (and some firms still today), there was some genteelism to it too, if that makes sense, meaning they wouldn't necessarily punch out their own mother just in the name of another 5% increase in margin or RPL.

To put the case directly in point, you get the sense that if a firm like Sidley or Orrick were sitting on these same numbers, they'd be doing more for their associates & staff. Then again, there's a reason that a firm like Sidley or Orrick isn't sitting on these same numbers. Double-edged sword.

[Anton123]

Law.com puts Kirkland's PPEP at $7.388 million, behind only Wachtell ($8.4 million) and beating DPW ($7.01 million), S&C ($6.385 million), P,W ($6.162 million), STB ($5.98 million), and Cravath ($5.803 million).

[Anonymous User]

On revenue per lawyer, any folks have intel? Does the firm not have to write off a lot of time? Seems pretty high

[Anonymous User]

On revenue per lawyer, any folks have intel? Does the firm not have to write off a lot of time? Seems pretty high

Don't forget paralegals also generate revenue, which helps bump it up.

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

Every decision the firm makes is meant to maximize the income of the partnership. They will pay associates just enough to attract and retain just as many people as they think they need, and not a dollar more, because that would go against the main goal.

This isn’t some cynical take by the way. It’s the only rational way a megafirm can operate. This is American capitalism baby.

How is that different from, say, WLRK or P,W or other top NYC Big Law Shops? I'm genuinely curious. Those firms are smaller and pay associates more, but it's not because they want to share the wealth more than K&E wants the share the wealth. They just have a different sense of how to achieve their goal, of maximizing $$ for partners. Isn't it at bottom the same mentality, just different approaches in terms of implementation of that same goal of maximizing money for partners?

Not exactly. All partnerships are generally trying to bring in good income but not all of them go about it with the maniacal ruthlessness and aggressiveness that Kirkland does. At your white shoe firms of yore (and some firms still today), there was some genteelism to it too, if that makes sense, meaning they wouldn't necessarily punch out their own mother just in the name of another 5% increase in margin or RPL.

To put the case directly in point, you get the sense that if a firm like Sidley or Orrick were sitting on these same numbers, they'd be doing more for their associates & staff. Then again, there's a reason that a firm like Sidley or Orrick isn't sitting on these same numbers. Double-edged sword.

If you go to work at any V5 you are working the same hours for lower pay. The argument that white shoe firms are "genteel" is bizarre.

[Anonymous User]

With these impressive numbers, what explains the relatively low multiples for high hour associates in the KE bonus thread?

Every decision the firm makes is meant to maximize the income of the partnership. They will pay associates just enough to attract and retain just as many people as they think they need, and not a dollar more, because that would go against the main goal.

This isn’t some cynical take by the way. It’s the only rational way a megafirm can operate. This is American capitalism baby.

How is that different from, say, WLRK or P,W or other top NYC Big Law Shops? I'm genuinely curious. Those firms are smaller and pay associates more, but it's not because they want to share the wealth more than K&E wants the share the wealth. They just have a different sense of how to achieve their goal, of maximizing $$ for partners. Isn't it at bottom the same mentality, just different approaches in terms of implementation of that same goal of maximizing money for partners?

Not exactly. All partnerships are generally trying to bring in good income but not all of them go about it with the maniacal ruthlessness and aggressiveness that Kirkland does. At your white shoe firms of yore (and some firms still today), there was some genteelism to it too, if that makes sense, meaning they wouldn't necessarily punch out their own mother just in the name of another 5% increase in margin or RPL.

To put the case directly in point, you get the sense that if a firm like Sidley or Orrick were sitting on these same numbers, they'd be doing more for their associates & staff. Then again, there's a reason that a firm like Sidley or Orrick isn't sitting on these same numbers. Double-edged sword.

If you go to work at any V5 you are working the same hours for lower pay. The argument that white shoe firms are "genteel" is bizarre.

The original point wasn't restricted to the V5. Also, plenty of people made more money working the same hours (or less) at other firms last year; Kirkland's meager multiplier screwed a lot of people, so the whole "Kirkland shatters!" point doesn't hold much water lately.

[Sackboy]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

[Anonymous User]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

What about with partners lateraling out? I see K&E share partners get picked off by competitors all the time now.

[Anonymous User]

I lateraled into M&A about a month ago. How do I get staffed around here?

I’ve been doing the coffee rounds, meeting ppl etc. but I still haven’t gotten much work. Probably billed 20 hours in the last month. Is the ramp up really supposed to be this long?

[Sackboy]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

What about with partners lateraling out? I see K&E share partners get picked off by competitors all the time now.

Like KE isn't lateraling the same number or more in?

[Anonymous User]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

What about with partners lateraling out? I see K&E share partners get picked off by competitors all the time now.

Like KE isn't lateraling the same number or more in?

K&E’s fiscal year starts on 2/1, and I bet that’s when the official promotion to share partner happens. Most likely these equity partner figures represent the prior year promotions (which makes sense because that was the number of share partners for basically the entire fiscal year during which the relevant financial results were generated).

[Anonymous User]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

Hey bozo, the joke is you not understanding the 14 new partners is for the reporting period that ended last year, while the 50+ go effective for this current reporting period.

[Anonymous User]

I lateraled into M&A about a month ago. How do I get staffed around here?

I’ve been doing the coffee rounds, meeting ppl etc. but I still haven’t gotten much work. Probably billed 20 hours in the last month. Is the ramp up really supposed to be this long?

I'm gonna go ahead and bump myself here. I'm seriously getting bored with the lack of work.

Some people hate K&E; some people love K&E. Who gives a shit? Would be great if we could use this thread as a general support group for K&E associates since like 75%+ of us seem to be laterals anyway.

[Anonymous User]

I lateraled into M&A about a month ago. How do I get staffed around here?

I’ve been doing the coffee rounds, meeting ppl etc. but I still haven’t gotten much work. Probably billed 20 hours in the last month. Is the ramp up really supposed to be this long?

I'm gonna go ahead and bump myself here. I'm seriously getting bored with the lack of work.

Some people hate K&E; some people love K&E. Who gives a shit? Would be great if we could use this thread as a general support group for K&E associates since like 75%+ of us seem to be laterals anyway.

Self bump less than 6 hours later = you will fit in just fine here. We wanna call the guy a bozo who called the other guy a bozo.

[Sackboy]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

Hey bozo, the joke is you not understanding the 14 new partners is for the reporting period that ended last year, while the 50+ go effective for this current reporting period.

Bozo is believing its actually true KE made 50+ internal equity promotions. You can compare Y-o-Y equity partnership changes for the past 5 years where KE has had 10%+ growth and see that's clearly not happening.

[Anonymous User]

Absolutely love that some bozo in an earlier thread that turned into a Kirkland thread was claiming KE made 50 new equity partners INTERNALLY this last year and flamed me for saying other firms are also making a fair number of equity partners. Meanwhile, the reported numbers show 14 new equity partners in total. Even with retirements, you can't reconcile those numbers. What a joke.

Hey bozo, the joke is you not understanding the 14 new partners is for the reporting period that ended last year, while the 50+ go effective for this current reporting period.

Bozo is believing its actually true KE made 50+ internal equity promotions. You can compare Y-o-Y equity partnership changes for the past 5 years where KE has had 10%+ growth and see that's clearly not happening.

Friend, your obvious hate for K&E is showing right now. You misread a stat and are now digging yourself into a deeper hole by trying to be a pedantic debater in a thread not even meant for you. Get over whatever K&E trauma you experienced--sorry they killed your dog; life goes on, get a life.

[Anonymous User]

Still pissed at my 1.4x bonus on 3k hours.

[Anonymous User]

Still pissed at my 1.4x bonus on 3k hours.

Learn to say no to work? Hard to imagine that any bonus is sufficient to compensate for the misery of 3k hours.

[Anonymous User]

I'm sure this is irrational in some way, but the recent news of how well K&E is doing -- gross revenue up 25% to north of $6 billion, PPP north of $7 million last year -- makes me, as a mid-level K&E associate, more unhappy/frustrated with how they treat us. The firm is SWIMMING in cash, but we can't have a modest tech budget for our offices? Like yeah, I can afford to buy my own preferred keyboard, but why not throw in a perk and cover that for me?

The "concierge service" thing is so overrated and most associates don't use it at all. But stuff like our preferred monitors/keyboards IN THE OFFCE, no less, is that too much to ask? Realize there's a lot of us, but again, the firm can more than afford it. The little things add up.

[Anonymous User]

Has anyone seen the tik tok about quitting Kirkland?

[Anonymous User]

Still pissed at my 1.4x bonus on 3k hours.

Learn to say no to work? Hard to imagine that any bonus is sufficient to compensate for the misery of 3k hours.

What year range are you? That seems low but if you’re senior it’s a pretty big $# still