Kirkland Bonuses? Forum

[Anonymous User]

Mid-level with 2700 hours 1.2x market. Wtf.

[Anonymous User]

Wow I need to work way less next year

[Anonymous User]

Did anyone get their 5pm ET promised announcement yet or am I the only one wondering what flavors I’m going to get in my year long membership to the jelly of the month club?

Plot twist - K&E bought the names of everyone in this thread and put them on the no bonus list.

Operation Honey Pot a great success! Eat my dick ungrateful anons!

EDIT: accidental anon, username is JonBalls420

[Anonymous User]

Mid-level with 2700 hours 1.2x market. Wtf.

I would leave immediately if I was you. That is a slap in the face.

Thank God I did not work that much this year.

[Anonymous User]

Senior assoc, just under 2400, above class, 1.3x. Underwhelmed, to say the least.

Also, last year, the special bonus was a separate line item, and it's not listed this year.

[Anonymous User]

Senior associate, 1.3x for killing myself this year. I actually feel insulted.

[Anonymous User]

To be fair for all the ppl complaining, "shattering the market" is a vestige of the past. Ppl don't come to Kirkland for that anymore. Ppl come to Kirkland because they have a pulse at Kirkland is willing to hire them.

[Anonymous User]

Totally missed the mark. Can’t believe I’m getting paid less to work more on an annual bonus perspective, and I’m sure they’ll ascribe it to the special bonuses blah blah blah but welcome to the market, and Kirkland is no longer top of it.

[Anonymous User]

Every K&E associate who billed over 2200 was likely underpaid compared to Dechert. Dechert.

Kirkland: a market leader in compensation (for SPs).

[Anonymous User]

Mid-level with 2700 hours 1.2x market. Wtf.

Market meaning original base plus special bonus?

[Anonymous User]

Ppl come to Kirkland because they have a pulse at Kirkland is willing to hire them.

Could have ended the sentence at pulse.

[Anonymous User]

Does anyone know what people around 3,500 hours are generally getting? Yes, I had to work that many hours and was expecting to be paid more…

[Anonymous User]

Totally missed the mark. Can’t believe I’m getting paid less to work more on an annual bonus perspective, and I’m sure they’ll ascribe it to the special bonuses blah blah blah but welcome to the market, and Kirkland is no longer top of it.

Maybe the most annoying part about that is the fact that they suggested otherwise during the town hall. That the increase in the EOY bonus scale and the EOY special bonuses would not change the multiplier. But after seeing my number (both this year and last year), kind of difficult to see how they can say that with a straight face.

[Anonymous User]

have people actually received emails?

[Anonymous User]

Every K&E associate who billed over 2200 was likely underpaid compared to Dechert. Dechert.

Kirkland: a market leader in compensation (for SPs).

Don't forget Katten, who is giving out 50% above market (base scale) for 2400.

[ExpOriental]

Does anyone know what people around 3,500 hours are generally getting? Yes, I had to work that many hours and was expecting to be paid more…

Audited for padding, I would think

[Anonymous User]

[vine][/vine]

Does anyone know what people around 3,500 hours are generally getting? Yes, I had to work that many hours and was expecting to be paid more…

Audited for padding, I would think

If they do automated auditing then that’s just insane and humiliating. I worked on TONs of deals during last review cycle and all the partners know I never pad

[Anonymous User]

Does anyone know what people around 3,500 hours are generally getting? Yes, I had to work that many hours and was expecting to be paid more…

1.6-1.7

[Anonymous User]

Midlevel in Corporate, 2900-3100, above class rating. Little over 1.55x (base) + special. Not thrilled to say the least.

Another posted mentioned Katten's bonuses. Comparing to that, my bonus is a measly $6-7K higher than what a Katten associate will receive for 2400, 500+ fewer hours...

And it's only more egregious when you factor in differences in billing rates and revenue per lawyer between the two firms.

In my view, the firm missed the mark last year and saw the consequences shortly after bonus payouts. They had a chance to correct that this go around, and I was optimistic that they would do so for several reasons -- mass departures following last year's bonus season and another year where RPL and PPP are inevitably going to significantly increase due to insane hours across the board -- but, once again, they proved me wrong. And, given how hot the lateral market is, particularly relative to the end of 2020/very beginning of 2021, I can't imagine that the number of departures following the 2020 bonus season will come anywhere near the numbers we're going to see now.

[Anonymous User]

3100 hours. 1.5x. Third year. Buddy is a second year with the same hours and got a higher multiple.

[Anonymous User]

Midlevel in Corporate, 2900-3100, above class rating. Little over 1.55x (base) + special. Not thrilled to say the least.

Another posted mentioned Katten's bonuses. Comparing to that, my bonus is a measly $6-7K higher than what a Katten associate will receive for 2400, 500+ fewer hours...

And it's only more egregious when you factor in differences in billing rates and revenue per lawyer between the two firms.

In my view, the firm missed the mark last year and saw the consequences shortly after bonus payouts. They had a chance to correct that this go around, and I was optimistic that they would do so for several reasons -- mass departures following last year's bonus season and another year where RPL and PPP are inevitably going to significantly increase due to insane hours across the board -- but, once again, they proved me wrong. And, given how hot the lateral market is, particularly relative to the end of 2020/very beginning of 2021, I can't imagine that the number of departures following the 2020 bonus season will come anywhere near the numbers we're going to see now.

Are you planning to leave?

[Anonymous User]

3100 hours. 1.5x. Third year. Buddy is a second year with the same hours and got a higher multiple.

X of last year’s base or this year’s?

[Anonymous User]

But I still think the 2000/3 people of the world will get their approximately 1.2x.

I'll guess the average/median that they announce in a few minutes is higher than before - maybe 1.4x - but that's not what a 2000/3 associate gets. It'll be higher because there are so many 2400+ associates who will get very nice multipliers. 2000/3 will be around 1.2x like usual.

I'm going to be bold and estimate that your average, with class (3 rating) 2,000 hour associate is going to be at a 1.4x multiplier off the Cravath base, which would be a gain on last year and more like Kirkland from 5-10 years ago. High billers (2,500 hours+) will see 2x+.

Hoping that “2” and 2400 gets me 1.75

Except that the second associate billing 2600 is getting way more than just 1.3x.

How do y'all feel now?

[Anonymous User]

Senior associate, 1.3x for way too many hours. Pissed as hell.

[Anonymous User]

Does anyone know what people around 3,500 hours are generally getting? Yes, I had to work that many hours and was expecting to be paid more…

shit if true. I did around 3k last year and got about 1.7x on base. Well regarded too. I know someone else who is *highest* regarded who did the same hours and got 2x on base lase year.

With that said, I and my life was falling apart billing 3k, so if you are doing 3,500, I either sympathize with you, or would not be surprised if there is a lot of "conduct, review and revise due diligence; supervise due diligence project; create unnecessary due diligence projects for junior associates" on your time sheet.