Biglaw

World’s Wealthiest Law Firm Announces Colossal Partner Class

With more than 150 new partners, how many of them will enter the firm’s equity ranks?

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There’s no denying that Kirkland & Ellis is one the nation’s greatest law firms. Not only does the firm offer a compelling combination of prestige, profitability, and pay (including special bonuses, even for non-share partners), but now it’s once again shattering the market on partners.

Bigger is apparently better at Kirkland, because late last week, the firm announced its largest-ever partner class. We’re not exaggerating when we say this class is huge. This year, the firm welcomed a partner class of 151, up from 2020’s record class of 145, 2019’s class of 141, 2018’s class of 122, and 2017’s class of 97.

But how many of these new partners will enter the firm’s equity ranks? Last year, the firm had 476 equity partners and 682 nonequity partners. The American Lawyer has some information on the firm’s successes throughout the pandemic:

With talent at an all-time premium, Kirkland has set the pace in multiple respects, emerging as a top competitor for associate bonuses and incentives and outpacing most of Big Law in associate laterals in and out. …

Kirkland’s overall lawyer head count increased by 4.9% last year, while its gross revenue increased by about 16.3% to $4.83 billion, and its profits [per partner] grew more than 19%, to about $6.2 million, according to American Lawyer reporting, as the firm benefited from a mergers and acquisitions and private equity comeback as well as a surge in restructuring matters.

As far as diversity is concerned, Kirkland opted not to show photos of its new partnership class, but from what we can tell, once again, the firm’s new partners are once again looking mighty male and mighty white.

It continues to be important for firms to know that these subjects won’t go unnoticed. Diversity and inclusion matter — to a firm’s current lawyers, to potential recruits, and perhaps most importantly, to clients.

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Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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