The Biglaw lateral market is always competitive. Now the world’s richest law firm — Kirkland & Ellis — is extending their play to get the best and the brightest talent. As reported by Bloomberg Law, amid an uptick in demand for associate hours, the firm has extended (through January 2025) its referral bonus program. That means associates who successfully recommend a lateral candidate will be $50,000 richer.
Last year, Kirkland upped the referral bonuses from $25,000 to this $50K number. However, according to Bloomberg, the bonuses were initially only for litigation candidates. Now that the firm — and the market, generally — is seeing an increase in corporate work, the lateral referral eligible for bonuses has expanded.
Yes, sigh, the firm is, in fact, looking for a man in finance.
Lateral Link’s Summer Eberhard said Kirkland’s move is a good sign for the industry, “This suggests that corporate transactional work is increasing, which is a welcomed sign that the tides may be turning.”
While these bonuses are impressive — and welcome, I am sure — they aren’t the top of the market. In 2022, Willkie rolled out a referral program that gives out $50,000 when the firm initially makes a hire, and an additional $25,000 when the candidate has been at the firm for a year. Which means we’ll know that associate demand is back to the pandemic heights when we start seeing the $75,000 number come around again.
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. 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 or Mastodon @[email protected].
