Edwards Gibson quoted in Financial News: “Kirkland & Ellis’s ‘up or out’ culture is getting more complicated”

Edwards Gibson director Scott Gibson has been quoted in a new Financial News article by Adam Mawardi examining how Kirkland & Ellis’s recently introduced “senior income partner” tier may complicate the firm’s traditionally clear-cut “up or out” career model.

Historically, Kirkland lawyers who fell short of equity could take comfort from the strength of their external marketability. The article examines whether the firm’s new senior income partner tier may make that proposition harder to sustain in future.

Commenting on the issue, Scott Gibson warned that, if the senior income title becomes more widely used, ordinary salaried (non-share) partners risk being “automatically devalued” in the lateral market, potentially weakening their bargaining position when seeking opportunities at rival firms.

The article explores how the new tier could help Kirkland retain experienced lawyers who do not immediately progress into the equity partnership, while raising broader questions about the status and external marketability of those remaining at ordinary salaried partner level.

Read the full Financial News article, “Kirkland & Ellis’s ‘up or out’ culture is getting more complicated” here (paywall).