Salt Lake City Legal Market? Forum

[Robot]

Surely there are very few clients in Salt Lake that can pay rates to support Kirkland's salaries. Is the end game here to get a recruiting advantage hiring people to do New York/Chicago/etc. work from a cheaper, attractive city? Could we see more biglaw offices in lifestyle destinations, college towns, etc?

[Anonymous User]

its 100% about talent and recruiting. anyone who does corporate work in this market will be at risk of losing corporate associates

[Anonymous User]

At K&E and I got the sense that this will try to be a small biglaw office for Mormon biglawyers who want to (re)locate in the area. The founding partners of the SLC office are all BYU alumni.

[Anonymous User]

Wonder what that means for partnership prospects out of that office? Serious or not?

I have heard that they plan to have about 200 folks in that office within a year. I imagine there are a lot of Mormon Big Law attorneys who want to move back but can't because of they 50%ish pay cut. This will get them back to the motherland while being in the top 1% of income there too.

[Anonymous User]

Wonder what that means for partnership prospects out of that office? Serious or not?

I have heard that they plan to have about 200 folks in that office within a year. I imagine there are a lot of Mormon Big Law attorneys who want to move back but can't because of they 50%ish pay cut. This will get them back to the motherland while being in the top 1% of income there too.

That seems outlandishly large, source?

[Anonymous User]

Wonder what that means for partnership prospects out of that office? Serious or not?

I have heard that they plan to have about 200 folks in that office within a year. I imagine there are a lot of Mormon Big Law attorneys who want to move back but can't because of they 50%ish pay cut. This will get them back to the motherland while being in the top 1% of income there too.

That seems outlandishly large, source?

Recruiter engaged by the firm. I think they have A LOT of interest from internal folks who want to go back to Utah and many other big law firms on the coast.

[Anonymous User]

Wonder what that means for partnership prospects out of that office? Serious or not?

I have heard that they plan to have about 200 folks in that office within a year. I imagine there are a lot of Mormon Big Law attorneys who want to move back but can't because of they 50%ish pay cut. This will get them back to the motherland while being in the top 1% of income there too.

That seems outlandishly large, source?

Recruiter engaged by the firm. I think they have A LOT of interest from internal folks who want to go back to Utah and many other big law firms on the coast.

I wonder what this means for summer associate recruiting. The press release mentioned tapping into BYU/Utah grads.

[Anonymous User]

Given the volume of Utahns who leave the state for higher ranked law schools, I think their summer class for that office will be full of those out of state school attenders who have ties to Utah. They will for sure take 3-4 people from BYU and Utah, but thats probably it I would guess.

[Anonymous User]

Given the volume of Utahns who leave the state for higher ranked law schools, I think their summer class for that office will be full of those out of state school attenders who have ties to Utah. They will for sure take 3-4 people from BYU and Utah, but thats probably it I would guess.

I think BYU generally does quite a bit better than 3-4 to biglaw each year and it's an open, unprecedented question how many of the BYU biglaw-bound 2Ls would elect to stay in SLC to work at a V10 and make NY market salary and above-market bonuses. I assume many of them would have a shot at KE SLC though if that office is really trying to grow to 200 lawyers.

[Anonymous User]

Anyone think other big law firms will follow?

[Anonymous User]

Foley just opened an office in SLC with a handful of attorneys from Maschioff Brennan. It feels like this will not be the last.

[Anonymous User]

Foley just opened an office in SLC with a handful of attorneys from Maschioff Brennan. It feels like this will not be the last.

Foley is starting at $202.5k in all markets, too. It breaks from market pay after year 3, but you'll still have a chance at making more than you'd make in midlaw.

[Anonymous User]

Foley just opened an office in SLC with a handful of attorneys from Maschioff Brennan. It feels like this will not be the last.

Foley is starting at $202.5k in all markets, too. It breaks from market pay after year 3, but you'll still have a chance at making more than you'd make in midlaw.

Wow, I didn’t realize Foley had moved to New York market in Madison and Milwaukee. That’s huge.

[Anonymous User]

Are Greenberg and Dorsey paying NY-market scales too?

[Anonymous User]

Delete, double post.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Shocking that the firm that pushes aggressively for 10b-5 reps isn't market.

[Anonymous User]

Sorry I meant Dentons, not Dorsey.

Did any firm in SLC survive the associate exodus to K&E? Crazy to see such a shake up in what was always a small and quiet market.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Kirkland hired or offered almost every person I know with ties to Utah, they've been incredibly aggressive.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Kirkland hired or offered almost every person I know with ties to Utah, they've been incredibly aggressive.

My theory: they start by staffing the place with a bunch of associates and NSPs (all of whom, note, are effectively short-term investments: if things go south they just attrite out naturally after a few years). Step 2 is to start finding mormons with clients who want to move home and give them equity along with a staffed office.

These offers to associates and NSPs really don't cost money -- there's enough work to go around (until a recession). The question is how many SPs end up there.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Kirkland hired or offered almost every person I know with ties to Utah, they've been incredibly aggressive.

My theory: they start by staffing the place with a bunch of associates and NSPs (all of whom, note, are effectively short-term investments: if things go south they just attrite out naturally after a few years). Step 2 is to start finding mormons with clients who want to move home and give them equity along with a staffed office.

These offers to associates and NSPs really don't cost money -- there's enough work to go around (until a recession). The question is how many SPs end up there.

I am a partner at KE (non-share, so not much more insight than any other associate). I think the goal here is simply to attract good lawyers, not to break into the SLC market from a business development front. On making shares, if you are a good lawyer, bill enough and become the go-to for enough clients, there is room to make shares no matter the office. You might not be at an advantage like the NSPs who opened the TX offices, but it feels like there is room. The more associates that are busy the more room there is for additional SPs. Now a crash in M&A/PE activity and no one is making it, but you can't predict the future and it definitely doesn't feel like it is slowing down.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Kirkland hired or offered almost every person I know with ties to Utah, they've been incredibly aggressive.

My theory: they start by staffing the place with a bunch of associates and NSPs (all of whom, note, are effectively short-term investments: if things go south they just attrite out naturally after a few years). Step 2 is to start finding mormons with clients who want to move home and give them equity along with a staffed office.

These offers to associates and NSPs really don't cost money -- there's enough work to go around (until a recession). The question is how many SPs end up there.

I am a partner at KE (non-share, so not much more insight than any other associate). I think the goal here is simply to attract good lawyers, not to break into the SLC market from a business development front. On making shares, if you are a good lawyer, bill enough and become the go-to for enough clients, there is room to make shares no matter the office. You might not be at an advantage like the NSPs who opened the TX offices, but it feels like there is room. The more associates that are busy the more room there is for additional SPs. Now a crash in M&A/PE activity and no one is making it, but you can't predict the future and it definitely doesn't feel like it is slowing down.

I think that this is correct. There is not really value in the SLC market. But Kirkland realized that there is a big ol' batch of biglaw attorneys who would rather live in SLC. They can work for the same clients that KE lawyers in Chicago and New York are working for. Kirkland is basically trying to collect all of those lawyers. There is a talent crunch right now. And moving forward, even if the market cools, Kirkland is well positioned to be as busy as any firm.

[Anonymous User]

Not sure who will be left for Foley after Kirkland gave an offer to an overwhelming majority of the associates in the market.

And Kirkland is basically putting out the bat signal in SF/NY/etc. for lawyers who want to be in SLC. They still are way above the rest of the market there.

Wow, had no idea Kirkland was being that aggressive. I believe Dorsey isn’t NY market-paying anywhere.

Kirkland hired or offered almost every person I know with ties to Utah, they've been incredibly aggressive.

My theory: they start by staffing the place with a bunch of associates and NSPs (all of whom, note, are effectively short-term investments: if things go south they just attrite out naturally after a few years). Step 2 is to start finding mormons with clients who want to move home and give them equity along with a staffed office.

These offers to associates and NSPs really don't cost money -- there's enough work to go around (until a recession). The question is how many SPs end up there.

I am a partner at KE (non-share, so not much more insight than any other associate). I think the goal here is simply to attract good lawyers, not to break into the SLC market from a business development front. On making shares, if you are a good lawyer, bill enough and become the go-to for enough clients, there is room to make shares no matter the office. You might not be at an advantage like the NSPs who opened the TX offices, but it feels like there is room. The more associates that are busy the more room there is for additional SPs. Now a crash in M&A/PE activity and no one is making it, but you can't predict the future and it definitely doesn't feel like it is slowing down.

I think that this is correct. There is not really value in the SLC market. But Kirkland realized that there is a big ol' batch of biglaw attorneys who would rather live in SLC. They can work for the same clients that KE lawyers in Chicago and New York are working for. Kirkland is basically trying to collect all of those lawyers. There is a talent crunch right now. And moving forward, even if the market cools, Kirkland is well positioned to be as busy as any firm.

At K&E and this is exactly what I’ve heard internally. We already do tons of cross-staffing and post-Covid it matters even less where someone physically sits. I’m sure landing some big Mormon clients in the area would be a plus, but this is mostly a talent play and it seems to be quite successful so far. I believe we’re already up to like 40 attorneys in SLC, and growing.

The firm is also well-hedged against economic downturns at this point so nobody seems worried about a cooling market.