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Kirkland & Ellis: BLOWING UP the lateral market
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Date: September 1st, 2010 11:36 AM Author: Learning Disabled Dragon Stag Film new laterals joining the ranks every day, hours up across the board for associates, literally beating partners off with a stick to take on new matters. could this signal a return to MARKETSHATTERING bonuses? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938260) |
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Date: September 1st, 2010 11:37 AM Author: Flesh Market wut (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938263) |
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Date: September 1st, 2010 1:23 PM Author: arousing infuriating dopamine really tough guy Literally? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939007) |
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Date: September 1st, 2010 1:42 PM Author: apoplectic station I reread the op and LOLd at this picturing the office as a zoo where the animals had escaped (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939123) |
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Date: September 1st, 2010 11:55 PM Author: burgundy histrionic tanning salon I pictured something like that ESPN Y2K commercial. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944397) |
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Date: September 1st, 2010 1:44 PM Author: Learning Disabled Dragon Stag Film the complimentary bludgeon is, by far, the best perk for incoming associates tyvm. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939141) |
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Date: September 1st, 2010 1:49 PM Author: Trip Wine Deer Antler i like this flame (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939168) |
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Date: September 1st, 2010 11:54 PM Author: navy university the "with a stick" part ruined it for me (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944378) |
Date: September 1st, 2010 11:44 AM Author: crusty elastic band It's genuinely disgusting how much responsibility I have, how much money I make, and how much prestige I oozes from me. Bonuses are going to EXPLODE ALL OVER THE PLACE. Oh, unless you're in the class of 2004, because THAT MEANS YOU'RE ABOUT TO MAKE PARTNER!!! (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938308) |
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Date: September 1st, 2010 11:45 AM Author: slimy quadroon potus non-equity (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938319) |
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Date: September 1st, 2010 11:46 AM Author: crusty elastic band OH NO I DON'T MAKE MILLIONS I ONLY MAKE SEVERAL HUNDREDS OF THOUSANDS AND MY RESUME AND BUSINESS CARDS READ "PARTNER" AND I'M ONLY 31. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938326) |
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Date: September 1st, 2010 11:46 AM Author: slimy quadroon potus everyone knows youre a fake partner though (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938333) |
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Date: September 1st, 2010 11:48 AM Author: Learning Disabled Dragon Stag Film a "fake" K&E partner >>>>>>>>>>>>>>> your firm's namesake (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938348) |
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Date: September 1st, 2010 11:48 AM Author: slimy quadroon potus ding son (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938353) |
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Date: September 1st, 2010 11:54 AM Author: Learning Disabled Dragon Stag Film no u (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938399) |
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Date: September 2nd, 2010 9:12 AM Author: laughsome sexy black woman not sure "3" means "several" in English son. But those business cards will be mad prestigious...after all, nearly one person in a thousand even knows what the fuck a "kirkland" is... (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15946420) |
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Date: September 1st, 2010 11:45 AM Author: Twisted Resort Coffee Pot Date: September 1st, 2010 11:44 AM Author: kirklandshatters
It's genuinely disgusting how much responsibility I have, how much money I make, and how much prestige I oozes from me. Bonuses are going to EXPLODE ALL OVER THE PLACE. Oh, unless you're in the class of 2004, because THAT MEANS YOU'RE ABOUT TO MAKE PARTNER!!! |
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Date: September 1st, 2010 11:46 AM Author: Learning Disabled Dragon Stag Film MISINFORMATION ALERT! calls already when out to the class of 2004 in my office.
things are going full tilt in all departments so there is really no excuse for them not to pull out all the stops on bonuses this year. K&E is pwning souls right now. |
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Date: September 1st, 2010 11:47 AM Author: crusty elastic band YEA YEA YEA (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938340) |
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Date: September 1st, 2010 11:48 AM Author: Learning Disabled Dragon Stag Film *chest bump* (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938350) |
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Date: September 1st, 2010 10:42 PM Author: Magical Corner Dog Poop this is indeed a heartening schtick (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15943637) |
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Date: September 1st, 2010 11:58 PM Author: burgundy histrionic tanning salon Nothing sadder than seeing a Kirkland "partner" (who was partner for 1 year) at a shit law firm. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944438) |
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Date: September 1st, 2010 12:25 PM Author: cobalt library kirkland has lost a lot of their NY IP rainmakers (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938603) |
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Date: September 1st, 2010 12:38 PM Author: Learning Disabled Dragon Stag Film MISINFORMATION ALERT! True, Desmarais left to become a patent troll, and a handful of shares have expatriated, but the IP department remains a powerhouse and has a big slate of cases coming up. The IP attorneies are billing like mad men and K&E is turning away tons of IP work. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938681) |
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Date: September 1st, 2010 1:20 PM Author: cobalt library they've lost several others to quinn's NY IP department. not saying its not still a strong department, but as a whole, the NY IP dept has been losing more than they're gaining. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15938973) |
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Date: September 1st, 2010 1:22 PM Author: Trip Wine Deer Antler uhh like one person... (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939002) |
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Date: September 1st, 2010 1:23 PM Author: slimy quadroon potus (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939010) |
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Date: September 1st, 2010 1:38 PM Author: crusty elastic band Dale Cendali's pinky does more work than most of the departed K&E IP attorneys. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939099) |
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Date: September 1st, 2010 1:41 PM Author: Learning Disabled Dragon Stag Film this (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939115) |
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Date: September 1st, 2010 1:51 PM Author: overrated pistol parlor lol @ below market bonuses last year unless you billed 3000 hrs. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939180) |
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Date: September 1st, 2010 1:52 PM Author: Trip Wine Deer Antler you're a fucking idiot http://abovethelaw.com/2009/12/associate-bonus-watch-kirklands-unhappy-campers/ |
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Date: September 1st, 2010 1:54 PM Author: slimy quadroon potus u mad? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939192) |
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Date: September 1st, 2010 1:55 PM Author: Trip Wine Deer Antler v5 secure brah. how can i be mad? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939200) |
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Date: September 1st, 2010 1:55 PM Author: slimy quadroon potus oh u mad (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939207) |
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Date: September 1st, 2010 1:56 PM Author: Trip Wine Deer Antler hokay chief (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939221) |
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Date: September 1st, 2010 10:43 PM Author: Magical Corner Dog Poop mad. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15943644) |
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Date: September 1st, 2010 1:57 PM Author: overrated pistol parlor what? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939227) |
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Date: September 1st, 2010 1:55 PM Author: crusty elastic band Market was 2000, chief, and everyone over 2000 beat the market. And there was never a salary freeze. U mad? |
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Date: September 1st, 2010 1:56 PM Author: soul-stirring naked garrison boistinker how come law pays such insignificant bonuses relative to salary? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939220) |
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Date: September 1st, 2010 1:56 PM Author: Trip Wine Deer Antler because hte market leaders can get away with it (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939225) |
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Date: September 1st, 2010 1:57 PM Author: soul-stirring naked garrison boistinker no but how come as an industry? this doesn't happen in other professional services industries. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939231) |
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Date: September 1st, 2010 1:58 PM Author: overrated pistol parlor salary is higher. used to be a very static risk averse profession. random associate peons want to know exactly how much they are making and get paid exactly as much as the next guy. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939240) |
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Date: September 1st, 2010 1:56 PM Author: overrated pistol parlor 2000 hrs was not easy to bill last year friend.
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Date: September 1st, 2010 1:57 PM Author: crusty elastic band You're just pissed because your "BLOODBATH" thread was an epic failure. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939233) |
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Date: September 1st, 2010 1:59 PM Author: overrated pistol parlor lol sure, though they did fire a shit ton of people either at the end of last year or beginning of this year. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939246) |
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Date: September 1st, 2010 2:01 PM Author: Trip Wine Deer Antler wats the word on BP? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939264) |
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Date: September 1st, 2010 2:02 PM Author: Learning Disabled Dragon Stag Film the word is "billables." (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15939269) |
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Date: September 1st, 2010 10:48 PM Author: Chestnut hairy legs (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15943712) |
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Date: September 1st, 2010 11:26 PM Author: Bisexual pocket flask NY office is insanely busy. Like 2200-2300 avgs cross the board. Not surprisingly since they fired like 1/4-1/3 of my remaining class (6 that I know in corp). They were doing 3l hiring. About another 6-7 in my class have left in the last year on our own accord so we are down from 40 starting to about 10-15 left by year 3.
One thing kirkland knows what to do and that's how to run a tight ship in a down turn. |
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Date: September 1st, 2010 11:42 PM Author: chartreuse metal psychic What firms aren't busy right now? In any event, if you're crowing about how busy you are, how jealous are you of Cahill associates? That firm is crushing right now. |
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Date: September 1st, 2010 11:48 PM Author: Trip Wine Deer Antler how jealous can you be of a TTT??? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944317) |
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Date: September 1st, 2010 11:51 PM Author: chartreuse metal psychic You must have a very narrow definition of "TTT" (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944355) |
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Date: September 1st, 2010 11:54 PM Author: Trip Wine Deer Antler whatever it is, there are plenty of firms that are not busy right now. it's pretty worrisome for the associates i know working at them. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944382) |
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Date: September 1st, 2010 11:55 PM Author: chartreuse metal psychic Now you have me confused. Cahill is extremely busy. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944388) |
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Date: September 1st, 2010 11:57 PM Author: Trip Wine Deer Antler not talking about cahill anymore. talking about your first, rhetorical question:
"What firms aren't busy right now?" |
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Date: September 2nd, 2010 12:00 AM Author: chartreuse metal psychic Gotcha. Yeah, if your firm isn't busy now, you're fucked because the economy is going to get worse before it gets better. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944457) |
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Date: September 2nd, 2010 12:02 AM Author: Trip Wine Deer Antler i have been, and am still, envisioning an L shaped recovery.
until then, there's a race to the top for legal services. clients who can pay top dollar are going to pay only for the firms that are worth it. ITE has chosen those firms. the rest will suffer. |
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Date: September 1st, 2010 11:56 PM Author: purple doctorate titcr (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944411) |
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Date: September 2nd, 2010 12:49 AM Author: Bisexual pocket flask Plenty of firms are not averaging 2200-2300 right now (like my current firm). Also kirkland had nowhere near the sort of mass layoffs like other firms.
I don't and never did drink the kirkland koolaid, but I can say from an objective standpoint that the firm's management knows how to run a tight ship as a firm and uses the economy to get rid of deadweight. They didn't need to trim at all given that PPP stayed flat from for the last two years at 2 million plus (which is atrociously high), unlike other firms that dipped 20 percent. that's not exactly beneficial from an assoc standpoint, but it certainly differentiates it from ttts like cahill or whatever else who prob was too heavily concentrated in shitty areas. Also Kirkland never overhired 90-100 person classes in 2004-2007.
The reason I left was b/c all my friends left but all my friends left but if you don't care about morale it's not a bad place to be and certainly more secure that other places long term.
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Date: September 2nd, 2010 12:51 AM Author: overrated pistol parlor except that they used the economy as an excuse to cut 30% of the class and took not a thin dime hit on PPP. not sure how that is secure.
until you are a partner that makes it pretty shitty. fuck those greedy bastards. |
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Date: September 2nd, 2010 2:31 AM Author: Bisexual pocket flask um i was the first to complain that they fucking decided to screw the associates on bonuses this past year and paid market despite the PPP going up 1-2% and revenues staying flat.
but it's certainly a very secure place to be during the recession as long as you're not a lazyass billing 1300 hours like my friends. nobody was worried about losing their jobs at all for the past 2 years. there was enough work that nobody had any excuses to bill 1200-1400/year when others were billing 2500+.
even my friends billing 1500-1600 were not fired. it's not like other firms where there wasn't enough work to go around. they just used the recession as an excuse to trim the fat when they didn't have to to make sure everyone is now billing 2200+. |
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Date: September 2nd, 2010 1:10 AM Author: chartreuse metal psychic Huh? Cahill is more profitable than Kirkland. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15945174) |
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Date: September 2nd, 2010 2:26 AM Author: Bisexual pocket flask i think i might've confused them w/ cadwalder or another firm then.
if cahill's PPP is $2M+ and stayed flat during the recession and they didn't need to get rid of anybody, then obviously they're doing something right now in terms of making sure the firm stays strong and that is something to "brag" about for a firm. |
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Date: September 2nd, 2010 4:27 AM Author: Razzle Old Irish Cottage Cadwalader is also more profitable than Kirkland. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15946026) |
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Date: September 2nd, 2010 4:43 AM Author: Bisexual pocket flask cadwalder's PPP dropped something like 30% for 2008 and they had well publicized layoffs. hardly the type of situation where PPP stayed flat and there was no need for any type of layoffs but the firm nonetheless used the economy as an excuse to get rid of people. also, kirkland is one of the few firms where gross revenue actually went up slightly in 2009 and PPP went up 1-2%. most firms had a drop in gross revenue but up in PPP b/c they got rid of people.
my only point is that kirkland has weathered the economy exceptionally well (unlike most firms). they've used the economy to get rid of deadweight as well as gyp assocs on bonuses when they could've paid above market bonuses in 2009. there's no question kirkland is not a great place for associates, but it's certainly a well-managed firm if you care about being secure (which means billing 1500+). |
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Date: September 2nd, 2010 4:50 AM Author: Bisexual pocket flask dp. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15946111) |
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Date: September 2nd, 2010 9:10 AM Author: laughsome sexy black woman You cannot even keep top firms straight, but want to pontificate on the overall legal economy?
You sound stupid. (No offense - I am sure you are a good person, just not very smart) |
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Date: September 2nd, 2010 9:15 AM Author: Trip Wine Deer Antler "top firms"?
atrocious cadwalader and cahill trolling. |
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Date: September 1st, 2010 11:55 PM Author: Spectacular Shrine how many entry-level associates with no experience do they need? I mean, my we is not EXPLICITLY corporate related, BUT my work at the pine tree legal defense fund provided experience that i think translates well. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944392) |
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Date: September 2nd, 2010 12:49 AM Author: henna lodge I don't know but I think they are hiring c/o 2010 grads right now. (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15945000) |
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Date: September 2nd, 2010 1:00 AM Author: light wonderful place of business (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15945090) |
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Date: September 2nd, 2010 1:13 AM Author: Spectacular Shrine Pretty nice. If things don't work out, I'm considering Yale forestry. Then I'll be MAD prestigious (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15945202) |
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Date: September 2nd, 2010 12:04 AM Author: lake territorial sanctuary lol u glad? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2,#15944505) |