What does K&E NEP comp look like for the years where peers are also making NEPs (i.e., 8th-11th year lawyers)? And what are the billable expectations for NEPs at that level?

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So eighth and ninth year are still on the scale, I don’t know what you’re talking about …

But for years not on the scale, then it’s on a case by case basis. Note that there are not many corporate NSPs who are permanent NSPs (it’s an up-or-out model). The permanent NSPs that you’re alluding to are largely specialists who don’t have a path to equity (labor, benefits, environmental, etc.), and they are working substantial hours as deal support.

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P2 Houston, but maybe other offices too idk

Immediately off grid (10th) there's a bump but not incredible. Think 5%. Billing expectations depend on what you want. Wanna make shares? Work your ass off, 2400+ easily. Probably still won't make it but you'll get a nice 4 sentence review and a pat on the head at worst. Don't care? Something over 2100 if you do good work.

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To add some more info, for the permanent NEPs (which can happen as soon as end of year 9, or as late as never), I’ve heard multiple reputable sources mention comp as high as $2m fixed. Same with NEPs that aren’t permanent but are on track for shares but can’t make it quite yet (so they give a huge pay bump to keep you from leaving, but less than equity).

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8-9th year no, 10-11th years yes if the situation calls for it. Remember that minimum equity value is approaching $4m so retaining valuable talent for half that is still a great deal for the firm.

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