Kirkland Bonuses? Forum

[Anonymous User]

So the multipliers were disappointing. I am a senior associate and was expecting 1.4/1.5 with a "2" and 2400 but got 1.2. It's still above market, I still work with really great lawyers, and I will still have many exit opportunities because of Kirkland's reputation and the skills I have developed at Kirkland.

If you really killed yourself last year and expected 2.0 but got 1.5, I feel you and would rather see you scale down/take some time off than leave the firm. With these bonus numbers, the SPs must know that a bunch of us are about to cash in on our unlimited PTO to recharge.

It’s especially frustrating given the rumors of certain corp associates securing lateral offers and then leveraging for $50K+ retention bonuses to stay.

An SP told me recently that the firm is not paying retention bonuses when people threaten to quit for the signing bonus.

Also the lateral market can now see that KE bonuses for 2000+ billers are no longer better (and in some cases are in fact worse) than Latham, Sidley, Dechert, MoFo, Katten, etc. Therefore there will probably be even less appeal to moving to KE in the first place.

As a litigator, I'd still rather work at Kirkland than any of these firms.

I would reread this draft and consider giving it another turn before sending out.

[Anonymous User]

2016 comp year with hours above 2500, 2 on review, 1.1x multiplier (less than last year at ~1.2x). Wasnt looking to leave prior to this but absolutely leaving in January and getting a sweet signing bonus. Firm leadership really missed the mark here....

This to me absolutely suggests that these bonus multipliers are practice group dependent. There's no way someone billing 2500 w/ an above class rating in corporate is getting a 1.1x multiplier. No way. Are you in a niche group, e.g., tax? Or did you piss someone off on the Firm Committee?

Are there any practice groups (except maybe restructuring) that are slow right now? Even lit is slammed; so many people are at trial.

[Anonymous User]

So the multipliers were disappointing. I am a senior associate and was expecting 1.4/1.5 with a "2" and 2400 but got 1.2. It's still above market, I still work with really great lawyers, and I will still have many exit opportunities because of Kirkland's reputation and the skills I have developed at Kirkland.

There are plenty of firms with similar or equal exit opps that will let you do 2050 hours at the expense of a 20% premium on your bonus. Do the math on how much you're getting paid for that delta to hit the 200 a month lifestyle.

I did 2400 with a 3 rating last year and got 1.35x btw

[Anonymous User]

Similar hours this year to last year, lower multiplier (and my merit ranking was higher this year). Seems like K&E downgraded across the board.

[Anonymous User]

I can't complain too much because my hours were low -- I would have missed some of the cutoffs that TTT firms are imposing, and gotten nothing. But worth noting that even low hours folks were getting 105% of market in past years. That extra few k is missing this year.

Feel bad for the folks billing way too much for 1.2. And I agree with the folks above worrying about associate quality -- if we want to keep getting good people we should pay for it. As a more senior person, I can see just how amazing it is to get a junior and be like "damn, this guy is good." That makes my life easier and the people above me's lives easier and on the margin might even deliver better results for the client when things are close. It's worth paying a little more to have an edge getting good people.

[Anonymous User]

I can't complain too much because my hours were low -- I would have missed some of the cutoffs that TTT firms are imposing, and gotten nothing. But worth noting that even low hours folks were getting 105% of market in past years. That extra few k is missing this year.

Feel bad for the folks billing way too much for 1.2. And I agree with the folks above worrying about associate quality -- if we want to keep getting good people we should pay for it. As a more senior person, I can see just how amazing it is to get a junior and be like "damn, this guy is good." That makes my life easier and the people above me's lives easier and on the margin might even deliver better results for the client when things are close. It's worth paying a little more to have an edge getting good people.

Same situation here. Not personally that upset but this is a clear statement that we are almost all fungible cogs. Associate quality is going to suffer from this and eventually clients will realize this as a previous poster noted. K&E was already struggling to attract good people because of its rep before - what is its selling point to desirable people now that it is no longer a comp leader?

[Anonymous User]

NSP comp news is coming out Monday. Will be fascinating to see if NSPs get similarly screwed by this trend or if the firm somehow differentiates them vs. associates as far as the generosity of the multiplier. Guessing the former.

[Anonymous User]

I think the firm's telling us that we're still getting more than what we would at another NY market firm and that the path to shares is now 3 years. They're gambling that this is still a better overall package than LW or STB.

[Anonymous User]

Let’s not get it twisted: The path to shares is as far away as it’s ever been for 99% of associates & NSPs at the firm. The shortening of the track from 10 minimum to 9 minimum years was a move aimed squarely at a very narrow slice of high value NSPs, predominantly in corporate, who the firm was at risk of losing ala what happened in 2020 with that bunch of restructuring NSPs, nothing more. Telling your average fourth year “you could have shares after nine years now, not ten!” as if that means anything is pure propaganda.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

Year? I'm a 2018 Q4 lateral and I received a full bonus per my offer letter. No multiplier.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

Unless your offer letter said you would get it, not surprised. Bonuses are based on the prior fiscal year hours, which run from 9/1 to 8/31.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

As long as your offer letter says you get market (or “full bonus”), you will get exactly market — no more and no less, no matter how much you bill. You will not be eligible for any multipliers even if you bill 400/month.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

As long as your offer letter says you get market (or “full bonus”), you will get exactly market — no more and no less, no matter how much you bill. You will not be eligible for any multipliers even if you bill 400/month.

Not true. I lateraled late last year and my letter said market but I got 1.15x.

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

As long as your offer letter says you get market (or “full bonus”), you will get exactly market — no more and no less, no matter how much you bill. You will not be eligible for any multipliers even if you bill 400/month.

Not true. I lateraled late last year and my letter said market but I got 1.15x.

Corporate? Year?

[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

Base or base plus special?

[Anonymous User]

Lateraled to Kirkland in the fall. I did not receive a pro-rated bonus. Got nothing. Standard for Kirkland?

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

As long as your offer letter says you get market (or “full bonus”), you will get exactly market — no more and no less, no matter how much you bill. You will not be eligible for any multipliers even if you bill 400/month.

Not true. I lateraled late last year and my letter said market but I got 1.15x.

Yeah, I find it hard to believe that if the partnership wants to reward someone, they will hold off on doing so because of the offer letter.

[Anonymous User]

This is something you have to negotiate or else you could get zilch. Sorry but I would consider mentioning this to your closest partner to see if they might be able to get you a bonus (don’t hold your breath).

As others have said the 2022 EOY bonus will be based on hours worked from Sept. 1 of this year through the end of August 2022 though. So your hours still have a purpose

Senior associate with an offer that includes no pro-rating of EOY for 2022. Does this mean my bonus is capped at 1x market? Because how do they calculate my hours for 2022 if the bonus year started in September ‘21?

I think it is fairly common to negotiate that the EOY bonus be based on prorated hours in this scenario. I’m not really sure what you mean by the last question, because the bonus calculation is simple: The EOY bonus multiplier is determined by hours worked from 9/1 of the previous calendar year through 8/31 of the current year. You (and anybody else lateraling) should negotiate that your hours be prorated for full bonus eligibility.

Maybe I’m using the wrong terms - so my offer is that I join in Feb/March but I get the full 2022 bonus (I.e., it is not reduced because I missed the first few months of the bonus year starting the prior September).

Does this mean if I’m “on track” to bill 2000+ hours by August 2022, then I’ll just get the same multiplier and bonus that my peers who actually billed 2000+ between September ‘21 and August ‘22? Assuming the rating is the same?

Ultimately I don’t care if I get exactly prevailing DPW scale without a multiplier for 2022. I just want to make sure it won’t be lower than that.

As long as your offer letter says you get market (or “full bonus”), you will get exactly market — no more and no less, no matter how much you bill. You will not be eligible for any multipliers even if you bill 400/month.

Not true. I lateraled late last year and my letter said market but I got 1.15x.

Corporate? Year?

Yes, 2016

[Anonymous User]

Senior associate with ~2,800 hours. 1.25x multiplier. Extremely disappointed in Kirkland this year. I had thought that my hours and rating might get me a 2.0x multiplier based on all of the firm's hype about its record revenues this year.

[Anonymous User]

Well, today's the day for the NSPs to get screwed. Everyone enjoy.

[Anonymous User]

Well, today's the day for the NSPs to get screwed. Everyone enjoy.

What time did they say the memos were coming around?