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 and profitability, but now it’s shattering the market on partners.
Earlier this week, the firm announced its largest-ever partner class of 141, up from 2017’s class of 97 and 2018’s class of 122.
But how many of these new partners will enter the firm’s equity ranks? Last year, the firm had 430 equity partners and 566 nonequity partners. American Lawyer has some information on the firm’s tiered-partnership structure:
The firm is also known for an “up or out” approach to partnership, which means large-scale promotions to its partnership don’t translate into a top-heavy structure.
Back in 2012 The American Lawyer found that about 20% of Kirkland’s income partners became equity partners after they finished a roughly four-year eligibility requirement. A more recent look at promotions at Kirkland from 2013 to 2017 found that only about 43% of the attorneys promoted during that period were still at the firm by the end of it, although the percentages varied widely from class to class.
As far as diversity is concerned, Kirkland’s new partnership class (seen here), is looking mighty male and mighty white. Forty-six of the firm’s new partners are women, and minorities seem to be disturbingly underrepresented. You’d think that with a group this large, a little more attention would have been paid here.
It’s important for firms to know that these subjects don’t go unnoticed. Diversity and inclusion matter — to a firm’s current lawyers, to potential recruits, and perhaps most importantly, to clients.
Kirkland Announces New Partners [Kirkland & Ellis]
Kirkland Announces Partner Mega-Class With 141 Promotions [American Lawyer]
Staci 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.