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K&E bonuses this year
| curious site toaster | 09/05/10 |
| Erotic Theater Generalized Bond | 09/05/10 |
| aromatic lay | 09/05/10 |
| cowardly hyperactive state patrolman | 09/05/10 |
| curious site toaster | 09/06/10 |
| zippy gaping private investor | 09/06/10 |
| vermilion juggernaut | 09/06/10 |
| zippy gaping private investor | 09/06/10 |
| talented quadroon resort | 09/06/10 |
| vermilion juggernaut | 09/06/10 |
| tantric useless brakes | 09/06/10 |
Poast new message in this thread
Date: September 5th, 2010 6:50 PM Author: curious site toaster This is mainly directed at kirklandshatters. What do you think kirkland's bonuses will be this year? It was surprising that they followed the market the past couple years given that they used to be so committed to beating the market (why spend all that money to build a reputation of top-end comp. to just turn around and go cheap to save a few million in one year?). Given how busy they seem, how much better will things be than the last couple years? (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15972493) |
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Date: September 5th, 2010 9:07 PM Author: Erotic Theater Generalized Bond 1st place a brand new Cadillac El Dorado 2nd: Steak Knives 3rd: Your fired |
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Date: September 5th, 2010 9:08 PM Author: aromatic lay first thought that came to mind (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15973564) |
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Date: September 5th, 2010 9:59 PM Author: cowardly hyperactive state patrolman given how much everyone is working, they better beat the market and make a splash. (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15974014) |
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Date: September 6th, 2010 4:37 PM Author: curious site toaster (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15979563) |
Date: September 6th, 2010 4:42 PM Author: zippy gaping private investor They basically cheaped out because they could. Now, plenty of people beat the market, but lots of people didn't. I was happy with mine, but I know others who weren't (some very dissatisfied).
Uncharacteristic for Kirkland, but I think ITE just gave them an opportunity and they went along with it. They didn't defer associates, and they didn't cut or freeze salaries. They stealthed a few first years and were fairly aggressive in reviews. Meanwhile, they were expanding to a new office and paying double-rent in Chicago for a full year. Expenses up, revenue down, but largely status quo. But cheaping on bonuses was pretty much the one down side.
I don't know what it'll look like this year. Everyone's been working more. It's been obvious for months now. I'm inclined to think it'll be back to a more normal SHATTERING THE MARKET bonus, but I couldn't say. I'd just be speculating. |
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Date: September 6th, 2010 5:02 PM Author: vermilion juggernaut just to add on more info and speculation (I dont work at KE):
KE also no offered a fair % of 2009 summers and halved their 2010 summer class (not sure about offer rate; expect it's 100% again). Both possibly prudent moves but also very ITE-motivated moves. They did it cuz they could get away with it. The % of 6th years making NSP is also far lower-probably 50% in 2009, probably like 70-80% this year. It's not longer taken for granted. NSP compensation is a black box, but I've heard a large portion is discretionary. ITE it's probably way down.
Not sure if bonuses will go above market again. First, they never had to pay SHATTERING bonuses pre-ITE, but they did anyways. Second and related, I think the firm's new managing partners who started taking over since 2006/07 is more NY-centric, greedier and more content to follow the market, rather than lead. They're also more corp/M&A-focused and neglecting KE's traditional strength in most things non-M&A like IP, bankruptcy, and general lit. |
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Date: September 6th, 2010 5:08 PM Author: zippy gaping private investor I was going to nit pick some of your points, but they're all pretty good, so I won't. (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15979856) |
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Date: September 6th, 2010 5:20 PM Author: talented quadroon resort NSP? (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15979978) |
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Date: September 6th, 2010 5:29 PM Author: vermilion juggernaut non-equity or non-share partner (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15980068) |
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Date: September 6th, 2010 9:10 PM Author: tantric useless brakes what were k&e's bonuses like pre-ITE? (http://www.autoadmit.com/thread.php?thread_id=1415311&forum_id=2#15982092) |