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Kirkland & Ellis: BLOWING UP the lateral market
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Date: September 1st, 2010 11:36 AM Author: Abnormal Shivering Becky Business Firm 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: Vibrant cuckoldry 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: concupiscible deer antler 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: sable ape brethren 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: Fear-inspiring heady institution 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: Abnormal Shivering Becky Business Firm 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: stimulating place of business 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: zombie-like crotch round eye 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: Violent cerise church scourge upon the earth 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: Misunderstood Flesh Senate 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: Violent cerise church scourge upon the earth 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: Misunderstood Flesh Senate 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: Abnormal Shivering Becky Business Firm 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: Misunderstood Flesh Senate 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: Abnormal Shivering Becky Business Firm 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: Trip Stead Cumskin 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: Racy stubborn hominid 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: Abnormal Shivering Becky Business Firm 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: Violent cerise church scourge upon the earth 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: Abnormal Shivering Becky Business Firm *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: seedy marketing idea useless brakes 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: Fear-inspiring heady institution 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: disrespectful up-to-no-good electric furnace 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: Abnormal Shivering Becky Business Firm 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: disrespectful up-to-no-good electric furnace 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: stimulating place of business 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: Misunderstood Flesh Senate (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: Violent cerise church scourge upon the earth 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: Abnormal Shivering Becky Business Firm 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: rose bawdyhouse 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: stimulating place of business 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: Misunderstood Flesh Senate 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: stimulating place of business 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: Misunderstood Flesh Senate 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: stimulating place of business 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: seedy marketing idea useless brakes 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: rose bawdyhouse 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: Violent cerise church scourge upon the earth 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: frozen clown 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: stimulating place of business 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: frozen clown 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: rose bawdyhouse 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: rose bawdyhouse 2000 hrs was not easy to bill last year friend.
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Date: September 1st, 2010 1:57 PM Author: Violent cerise church scourge upon the earth 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: rose bawdyhouse 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: stimulating place of business 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: Abnormal Shivering Becky Business Firm 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: swashbuckling bearded set (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: Fiercely-loyal pit 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: Bateful gay lodge 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: stimulating place of business 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: Bateful gay lodge 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: stimulating place of business 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: Bateful gay lodge 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: stimulating place of business 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: Bateful gay lodge 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: stimulating place of business 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: cowardly mediation 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: Fiercely-loyal pit 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: rose bawdyhouse 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: Fiercely-loyal pit 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: Bateful gay lodge 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: Fiercely-loyal pit 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: hyperactive box office 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: Fiercely-loyal pit 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: Fiercely-loyal pit 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: Trip Stead Cumskin 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: stimulating place of business "top firms"?
atrocious cadwalader and cahill trolling. |
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Date: September 1st, 2010 11:55 PM Author: Titillating Forum 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: Rambunctious diverse hissy fit 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: confused market genital piercing (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: Titillating Forum 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: Razzle Station lol u glad? (http://www.autoadmit.com/thread.php?thread_id=1411463&forum_id=2#15944505) |