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Subject Expert
Anyone taken a 3week vacation before?
Coach
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someone posted 2y. Not sure if true.
A3, you think it’s now longer or shorter?
K&E also has promoted associates to NSP while simultaneously telling them to look elsewhere. They promote if they like you but don’t think you’re cutting it and they are also relatively generous about website time thereafter to give these NSPs time to find another job.
what is not cutting it at that level?
Coach
I’m at K&E. They will never arbitrarily ask you to leave after a certain amount of time. NSPs are extremely valuable assets because they bill like partners and do the work of partners but get paid like senior associates (unless they’re 9+ years in and became our equivalent of counsel - those people can make $2m+ which is still good value for the firm since SPs make $3.5m+ now). It would be very financially silly to fire someone who brings in dramatically more money (and saves SPs from work) than they cost, and K&E is all about the money.
I really don’t think most people get pushed out, but when they do it’s more about failing to make the transition from mid to partner/senior-level matter-running responsibility. You don’t have to already be operating at that level to make it but if it’s been 2 years and you’re hitting a ceiling (that doesn’t allow the firm to justify treating you like the front-line day-to-day partner on matters and the rates that come with it) then they’ll start to think it won’t work long-term. Another scenario is laterals that get brought in as NSPs or like a 6th year who soon after becomes NSP, and fail to live up to expectations.
I’ve heard that NSPs who get asked to leave tend to get an even longer exit period than associates - like 6 months heads up and then 6 months of severance and website time to find the next gig as if it’s voluntary.
Like I said though I think most exit are voluntary. Some people think they want to gun for equity but then get into the most important and intense NSP years (you don’t have to be an extreme gunner to be an NSP, but if you’re chasing shares that’s when the big crunch happens) and decide it’s not worth it. A lot of people also start having kids around that age, and that’s both a huge career disruptor and also a “wow, holy crap let me reevaluate my life priorities” catalyst. These people are also still marketable to in-house or other firms (especially further down the PPEP ladder) and appealing opportunities may come up.
Subject Expert
I think it’s likely the second or third scenario (but first scenario also possible). I have in mind what I’d like to do, but unclear where they’ll slot me.
Thanks for the insight. What do homegrowns generally think about people like me who lateral in? Any political issues I’d need to look out for?
Depends heavily on the practice group.
M&A?
Mentor
I know some corporate NSPs who left months after the title. Not sure if asked to leave or simply burn out and were simply waiting for the title for better opportunities (could conceivably be both). I did hear through the grapevine of one NSP being mid-yeared.
Subject Expert
How many hours do people bill at KE?
Subject Expert
There’s no minimum but you start getting calls from senior partners if you fall below 1800 12 months trailing.