Biglaw

Kirkland Uses Its Immense Wealth In Pursuit Of Associates

It's the hottest associate lateral market in history, and Kirkland is making moves.

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We told you the associate lateral market is hot like fire rn. And boy, we weren’t kidding. We all know — and have covered ad nauseam — that special bonuses are sweeping through the elite of Biglaw, which are likely part of a calculated move to keep associates happy enough to stay put at their current firms. And other perks are being thrown into the mix — like $1,000 worth of takeout or $1,500 in exercise equipment.

But Biglaw giants looking to entice associates away from their firms are also here to play. And Kirkland & Ellis, the firm consistently taking in the most money in gross revenue, has plenty of money to throw at new hires. As reported by Law.com, they aren’t shy about it either:

For instance, Kirkland offered a third-year associate at another firm a $150,000 signing bonus; offered another candidate $50,000, plus a possible top year-end bonus and an earlier path to partnership; and offered a retention bonus to a current associate to match a signing bonus from another firm, according to a source familiar with the bonuses.

In fact, Chicago-based recruiter Kay Hoppe characterizes this as “the most aggressive associate market in history,” so it’s no wonder firms are doing everything in their power to woo the best associates:

“I handle elite partner [moves]. Everybody wants them, But more than them, they need associates,” Hoppe said. “There’s more need than there is talent. And I wouldn’t fault Kirkland or anybody else for doing what they are doing for bringing in top associates.”

“The whole thing is upside down right now,” she said about the demand for associates compared with partners. “I have no problem with a firm offering a great associate the world, because they’re needed. And the best of the best provide something that is invaluable to the clients, to the partners and to their peers.”

It’s good to see firms realizing they need to up their game to keep their associates or to attract new ones. And for all the associates out there, go find your bliss (or at least the Biglaw firm that can give you the nearest simulacrum of happy).

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headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

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