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Aspiring Lawyers - Applications & General Advice
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Watson Glaser and Case Study Resources
Law Firm Insight: Kirkland & Ellis
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<blockquote data-quote="Jaysen" data-source="post: 15507" data-attributes="member: 1"><p>Here's the summary:</p><p></p><p>The article begins by talking about Kirkland's former reputation as a litigation powerhouse with a 'decent mid-market private equity practice'. Since then, aggressive lateral hiring and growth in PE has led to Kirkland becoming the highest grossing law firm in the world. The firm has grown alongside its private equity clients (Kirkland says it works for over 450), which has generated a variety of legal work, from buying and selling businesses to drafting finance documents and advising portfolio companies. There are questions, however, over what will happen to Kirkland if PE work dries up.</p><p></p><p>The article also discusses Kirkland's strategy of hiring star partners who were at the bottom of the lockstep, promising high pay and autonomy to bring them over. The firm has also done well to attract junior lawyers, promising a shorter partnership track (although they start as a salaried partner). On the other side of this, however, the article notes how retaining talent has been a challenge for Kirkland. The firm's culture is not for everyone and lawyers may be asked to leave if they aren't meeting expectations.</p></blockquote><p></p>
[QUOTE="Jaysen, post: 15507, member: 1"] Here's the summary: The article begins by talking about Kirkland's former reputation as a litigation powerhouse with a 'decent mid-market private equity practice'. Since then, aggressive lateral hiring and growth in PE has led to Kirkland becoming the highest grossing law firm in the world. The firm has grown alongside its private equity clients (Kirkland says it works for over 450), which has generated a variety of legal work, from buying and selling businesses to drafting finance documents and advising portfolio companies. There are questions, however, over what will happen to Kirkland if PE work dries up. The article also discusses Kirkland's strategy of hiring star partners who were at the bottom of the lockstep, promising high pay and autonomy to bring them over. The firm has also done well to attract junior lawyers, promising a shorter partnership track (although they start as a salaried partner). On the other side of this, however, the article notes how retaining talent has been a challenge for Kirkland. The firm's culture is not for everyone and lawyers may be asked to leave if they aren't meeting expectations. [/QUOTE]
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