Kirkland and Ellis Partner Salary Forum

[mardash]

To continue my analysis from above, here are the outcomes for Chicago litigators from 2015:

11 NSPs originally
1 has PC on their website
3 remain at the firm, but no PC
7 other outcomes:
Redgrave
SEC
DOJ
Moore Tax Law Group
GC for Incloud Counsel
Eimer Stahl partner
ADM

So one of 11 in this case.

Or maybe litigation SPs don't make enough to warrant PC?

1 in 11 doesn’t seem bad vs the average biglaw litigation group, if you’re thinking associate->partner. But the fact that that’s NSP -> equity partner is kind of shocking to me at least.

NSP to share partner is the same as associate to partner in other firms. You "make" NSP just by sticking around long enough to be a 7th year. It's not a funnel in and of itself any differently than the 6th to 7th year funnel would be at Other Biglaw Firm LLP.

True, but a fair amount of people drop out before they reach 6th year, too.

[Anonymous User]

To continue my analysis from above, here are the outcomes for Chicago litigators from 2015:

11 NSPs originally
1 has PC on their website
3 remain at the firm, but no PC
7 other outcomes:
Redgrave
SEC
DOJ
Moore Tax Law Group
GC for Incloud Counsel
Eimer Stahl partner
ADM

So one of 11 in this case.

Or maybe litigation SPs don't make enough to warrant PC?

1 in 11 doesn’t seem bad vs the average biglaw litigation group, if you’re thinking associate->partner. But the fact that that’s NSP -> equity partner is kind of shocking to me at least.

NSP to share partner is the same as associate to partner in other firms. You "make" NSP just by sticking around long enough to be a 7th year. It's not a funnel in and of itself any differently than the 6th to 7th year funnel would be at Other Biglaw Firm LLP.

I'd characterize it as a mild funnel. The firm culture does take the associate --> NSP transition seriously in the sense that you'll be scrutinized before getting the promotion and if the NSP committee thinks something needs to be improved beforehand you can be held back. So there's something more to it than just an ordinary year x, year x+1 progression. But like I said I agree it's a mild funnel not some arduous test; maybe the inverse of the NSP --> SP odds e.g., 90% odds you get to NSP; 10% odds on you get to SP (after waiting a long time to be told "no").

[lurkinassociate]

The outcomes for corporate NSPs from 2011 & 2012 seem quite good to me. Probably skewed by M&A/PE strength before other firms had fully invested in building out their PE capabilities. I imagine the NSP outcomes weaken as you get into the mid-2010s (everything after that is likely too soon to tell).

[Anonymous User]

The outcomes for corporate NSPs from 2011 & 2012 seem quite good to me. Probably skewed by M&A/PE strength before other firms had fully invested in building out their PE capabilities. I imagine the NSP outcomes weaken as you get into the mid-2010s (everything after that is likely too soon to tell).

Kirkland was a very different firm 10+ years ago; arguably in 2010 there was still a cultural sense of "we're all in this together; our NSPs are our future SPs." Litigation also had much more dominance at the firm back then.

[Anonymous User]

Does anyone have any insight on what a long-term NSP (not on track for shares, with 10-12 years experience) in a transactional-based practice should expect to make?

[Anonymous User]

Does anyone have any insight on what a long-term NSP (not on track for shares, with 10-12 years experience) in a transactional-based practice should expect to make?

600-800k

[Anonymous User]

Does anyone have any insight on what a long-term NSP (not on track for shares, with 10-12 years experience) in a transactional-based practice should expect to make?

600-800k

Thanks, that's consistent with what I expected. Not a bad way to make a living if shares aren't in the cards.

[Anonymous User]

Does anyone have any insight on what a long-term NSP (not on track for shares, with 10-12 years experience) in a transactional-based practice should expect to make?

600-800k

Do these partners get annual comp increases or is it pretty much that set amount of comp year-in year-out?