Latham’s New Big Law Partner List

Ben Thomson, LawFuel contributing editor

Kirkland & Ellis, widely regarded as one of the most prestigious and profitable law firms in the United States, has announced the promotion of 200 attorneys to partner effective October 1, 2024, opening the doors to potential major earnings.

Lathams are regarded as one of the top-earning law firms in the world with our LawFuel partner earnings list showing Kirklands at the top with earnings of $7.3 million.

The latest partner round for Lathams marks another year of substantial growth for the firm’s partnership ranks, though slightly lower than the 205 promotions in 2023, which may demonstrate a minor reduction in the firm’s aggressive growth strategy.

Kirkland & Ellis has consistently expanded its partnership in recent years, as the figures below demonstrate:

2024: 200 new partners
2023: 205 new partners
2022: 193 new partners
2021: 151 new partners
2020: 145 new partners

Equity vs. Non-Equity Partners

While Kirkland & Ellis is known for its generous partnership promotions, questions remain about how many of these new partners will enter the firm’s coveted equity ranks pulling in the big bucks.

In 2023, Kirkland reported 539 equity partners (a 6.7 percent increase from previous year) and 969 non-equity partners (a 10 percent increase from the previous year).

The firm recently reduced the time required for non-equity partners to become eligible for equity partnership from four years to three, potentially accelerating the path to equity status.

Financial Implications

Kirkland & Ellis’s profitability and huge global footprint continues to be a major draw for attorneys.

In 2023, the firm’s profits per equity partner reportedly reached close to $8 million, placing at the forefront of the world’s most profitable law firms.

Equity partners are expected to bring in significant business and revenue for the firm with equity partner ‘candidates’ being able to demonstrate they can generate and maintain a book of business that justifies equity partnership.

They should also be able to show their skills in their leadership and their potential to contribute to firm management, according to insiders.

Prior to entering the lucrative inner haven of Lathams, senior members of the firm discuss and nominate candidates for promotion in formal meetings, where the full assessments are made and input from other offices is sought.

But the lucrative elevations are not the end of the story for the equity-sharing partners. Reviews are held every two years to ensure the blessed partners are still due their rewards of equity partnership.

Practice Areas and Locations

As for the 2024 partner class and its equity-sharing aspirants, the practice areas and office locations include –

M&A and Private Equity
Litigation
Debt Finance
Intellectual Property
Tax
Restructuring
Investment Funds

The 2024 partner cohort saw new partners promoted across multiple offices, including Austin, Chicago, Houston, London, Los Angeles, and New York.

The behemoth that it is continues to exert both influence and intrigue for the big law business as they eye what is happening and what the big money is being paid by the biggest, big law firm.

The Top Earning Big Law Partner List –

What Are the Profits-per-Partner For Big Law Partner?

Citations:
[1] https://www.kirkland.com/news/press-release/2024/10/kirkland-and-ellis-announces-new-partners
[2] https://www.kirkland.com/news/press-release/2023/10/kirkland-ellis-announces-new-partners
[3] https://www.kirkland.com/news/in-the-news/2024/01/partnership-for-new-york-city-announces-2024-class-of-david-rockefeller-fellows
[4] https://abovethelaw.com/2024/10/worlds-richest-biglaw-firm-announces-another-huge-partnership-class/
[5] https://www.law.com/americanlawyer/2024/10/01/kirkland-keeps-new-partner-class-at-200-lawyers/
[6] https://www.juve-patent.com/firm-rankings/kirkland-ellis-uk-2024/
[7] https://www.linkedin.com/posts/kirkland-&-ellis-llp_partnership-for-new-york-city-announces-2024-activity-7158099533527240704-U8gA