We interview the expert lawyers across the industry. 2023 Breaking Media, Inc. All rights reserved. Thanks for all of your help! Sure makes reading them more interesting though. Yeah, and I'm the Queen of Sheba. Cheers to a happy bonus season, everyone! Lisa Javice has very distinct memories of telling Jamie Dimon exactly how many users her company had. Sure makes reading them more interesting though, 'Maybe Don't Send 8-Year-Olds To Jail For Eating Paste' Is Something We Required A Federal Court To Rule In 2023, Delaware No Swiping! Explore every facet of diversity, equity and inclusion with our research and the latest commentary and views from those in the legal industry. Is Your Firm Keeping Pace With The Advancements In eDiscovery? Lisa Javice has very distinct memories of telling Jamie Dimon exactly how many users her company had. Were all incredibly pissed since weve been billing insane hours. B ased on interviews with junior lawyers and expert analysis from the Chambers team. Joe Patriceis a senior editor at Above the Law and co-host of Thinking Like A Lawyer. New equity partners at Kirkland & Ellis will be paid a fixed salary of around $1.5m in their first year after promotion, as a shorter partner track kicks in at the US legal giant. Money isn't everything, but it is something. One Kirkland. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. Intellectual Property [6] Delaware No Swiping! Until the firm settles the money situation even if they settle it by not settling it theres no way to address any firm business without coming across as out of touch and a little insulting. All it does is irritate people unnecessarily. Forty-eight hours before go-time, the firm apparently decided it couldn't risk it. Managing Director at RPN Executive Search, The Supreme Court Hears Oral Arguments On The Legality Of President Biden's Student Loan Forgiveness Program, JPMorgan Asked For List Of Fake Names, Cant Do Long Division, Person Its Suing Says, The firms American-centric practice is dead, the firm lives, Delaware No Swiping! Closing. alumni, and practicing lawyers to rate major aspects of life at their law school (academics, social Hours Average. Neutral reporters? Old school partnership models are disappearing like Elves departing to the West at the end of Lord of the Rings and similarly leaving a less magical world. Location 1775 WIEHLE AVE STE 400, RESTON, Virginia, Understanding Big Law: A Must-Read Guide To One Of The Most Challenging Workplaces In The World Is Now Available, decade-spanning review of Kirklands non-equity partnership ranks. -- See Also, Heres a snapshot in to Sotomayors brain, Verbal spats in opinions may not be the best thing for the judiciary. [NY Daily News], * LA County owes $29M over distributing horrific pictures of the Kobe Bryant helicopter crash. Other firms continued to match Davis Polk, including Baker Botts and White & Case. (Flip to the next page to see the full memo from Kirkland.). Have honestly lost count of how many times this was a headline and then nothing actually happened. Sure, they were above market, but, again, thats kinda Kirklands thing. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Those making the jump from non-share to equity partner at the firm will spend a year on around $1.5m in fixed compensation, people . Among other salary news, White & Case said it will increase salaries for U.S. associates, matching the Davis Polk scale of $205,000 to $365,000 base pay, depending on class year, according to a memo. See Also, Thomson Reuters Practical Law The Journal: Transactions & Business, The State Of Todays Corporate Law Departments, MyCase Continues To Simplify Law Firm Accounting, Right Where You Manage Your Practice, Meet LINK: The Easy Way To Handle All Your Document Workflows On Your Mobile Device In A Single App, Four Tips For Solo Attorneys To Build Their Marketing And Media Relations Skills, First Impressions Are Worth Millions For Summers. The firms American-centric practice is dead, the firm lives. Our Team Account subscription service is for legal teams of four or more attorneys. Delaware No Swiping! Kirkland & Ellis 1124: 1608: 0.70: Holwell Shuster . Thats the price the firm pays to be able to award the spoils to those making the most rain and part of that model is keeping the equity spoils tightly guarded. Follow him onTwitterif youre interested in law, politics, and a healthy dose of college sports news. Stuck Drafting A Tough Brief? The latest on trends affecting the industry, as well as all the metrics and rankings to help you shortlist firms. Have honestly lost count of how many times this was a headline and then nothing actually happened. Asking for an ousted mayor. But it doesnt matter how generally good the news is, when associates are mentally paying off their loans, nothing matters but the money. Delaware No Swiping! And if youd like to sign up for ATLs Bonus Alerts (which is the alert list well also use for salary announcements), please scroll down and enter your email address in the box below this post. Equity partners are averaging a take home ten times as much with an annual take of around $5 million. Join The American Lawyer now! in Trial Advocacy, 5 Ways to Evaluate Your Current Training Program for Transactional Associates, Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, COMMERCIAL FINANCE ATTORNEY - CT OFFICES; REMOTE will be considered, AARONSON RAPPAPORT FEINSTEIN & DEUTSCH, LLP, Buying Legal Council Appoints Jason Winmill as New Chair, Understanding the Las Vegas Crime Rate with Attorney Tony Sgro, Introducing Virginia Ivanova, Esq. What Happened To Reading The Fine Print? Biglaw Budget Template Convert income into wealth. Here is the Davis Polk scale, as reported by Above the Law and Law.com: Class of 2021: $215,000 (same as Milbank) Class of 2020: $225,000 (same as Milbank) Class of 2019: $250,000 (same. And if youd like to sign up for ATLs Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. Law Offices of Gary Martin Hays & Associates If you previously signed up for the bonus alerts, you dont need to do anything. They give us the inside track on their careers, their daily lives, the high and the . Sure makes reading them more interesting though, 'Maybe Don't Send 8-Year-Olds To Jail For Eating Paste' Is Something We Required A Federal Court To Rule In 2023, Delaware No Swiping! Delaware No Swiping! on March 1, 2022 at 5:19 PM Kirkland & Ellis has consistently brought in the top revenue numbers in all of Biglaw. Discovery provides a variety of benefits . This Tool Can Help. Yeah, and I'm the Queen of Sheba. As expected, now that Cravath has signed off on the latest round of raises brought to us by Davis Polk, Biglaw firms of all stripes have waltzed in to shower their associates with piles of cash. The No. Yeah, and I'm the Queen of Sheba. Joe also serves as a Managing Director at RPN Executive Search. Kirkland had the third-highest profits-per-equity partner of any U.S. law firm in 2020 at about $6.2 million, according to The American Lawyer. Delaware No Swiping! In my experience, partners here care about the wellbeing of associates. The firms American-centric practice is dead, the firm lives. Katten Muchin Rosenman 's memo matches the scale through 2014, up to $350,000. Kirkland & Ellis will also pay course fees and provide a competitive maintenance grant for the SQE. Colored bars represent the range of average firm ratings. At some points during oral arguments, everyone discussed fairness, which is the elephant in the courtroom. I'm very excited to announce that I am transitioning to a new . [Dallas Morning News]. What Do Millennials Think Of Law Firm Life? Why is this so difficult for firms to understand? Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. From Above The Law Mid-level in corporate, with class, 24-2500 hours, about 35% above market on the year-end component, but only. 2022 Bonus Tracker, Associate Bonus Watch 2022, Associate Compensation Scorecard, Biglaw, Bonus News Alerts, Bonuses, Money. [Law360], * Jerry Jones assault case revived. At Kirkland, Latham & Watkins, and elsewhere, an elite group of rainmakers with books of business worth in the range of $100 million is increasingly commanding eight-figure compensation packages,. [Law360], * Jerry Jones assault case revived. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. growth and more. We track * Law firms expect tougher fee negotiations. window.__mirage2 = {petok:"BePTmacRPfOxujDsl3YjmCQgWun7UykczcK3qlh.iPI-1800-0"}; If you see any information here that is incorrect or needs clarification, tell us. The average Kirkland & Ellis salary ranges from approximately $47,934 per year for a Project Assistant to $359,422 per year for a Partner. From some insiders: Mid-level in corporate, with class, 24-2500 hours, about 35% above market on the year-end component, but only 25% above market all in. Asking for an ousted mayor. Kirkland's twist is that the highest amount, $64,000, goes to non-equity partners. By Kathryn Rubino Biglaw The $20 Million Biglaw Partner AKA 'The. Here, the firm is not a leader but a follower. [Law360], * Jerry Jones assault case revived. Getting lawyers to actually comply with your policies is another. At some points during oral arguments, everyone discussed fairness, which is the elephant in the courtroom. From Thomson Reuters and Above the Law. As Valentine's Day was just earlier this week, I encourage you to visit our "Aggies in Love" map and contribute to it as well. The top 100 highest-paid GCs earned total cash compensation of $2.42 million on average. Meanwhile, a spate of firms continued to announce salary raises Thursday and Friday, including White & Case and Baker Botts, according to firm memos shared with Law.com. Justice Jacksons Jurisprudence Holds No Shelter For Finders Keepers: Take that, Delaware! Vault Verdict. Registration or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. A report from our friends at Thomson Reuters will help you benchmark legal spend, find greater efficiency, and innovate for the future. Big bonuses aren't as big as in the past. Tax, The ATL School and Firm Insiders Survey asks self-identified current students, This Tool Can Help. Historically, Kirkland & Ellis has long been known as a firm that would always pay above market bonuses - 5% above market as the baseline and then higher multiples for those with higher hours (often in the 20-50% range but with scattered reports online of 2x or more in extreme scenarios). The firms American-centric practice is dead, the firm lives. Let us know what your firms minimum billable hours targets are for bonus eligibility and when your firm will pay those bonuses. In 2006, with a $7 million gift likely the largest ever given by a law firm to any law school Kirkland set scholars program for University of Chicago graduates. . "With an extraordinary talent pool of highly skilled attorneys, as well as an excellent academic community, including Brigham Young University's J. Reuben Clark Law School and . Kirkland & Ellis pays an average salary of $373,358 and salaries range from a low of $328,458 to a high of $423,095. Determining If The President Has The Authority To Cancel Loans Is One Thing, But Does The Court? What Happened To Reading The Fine Print? Weve gotten word from tipsters that some were left disappointed, and that, particularly when you factor in other firms fall special bonuses this year, (which K&E pointedly did not participate in) this years bonuses simply didnt wow. Sure makes reading them more interesting though. Fox Huffs About Journalistic Integrity, Even As It Admits To Feeding Biden Data To Trump Campaign, Civil Rights Organization Gets In The NASCAR Sponsorship Game, For market bonuses: 2000-2349 hours for regular bonus; 2350-2599 hours for extraordinary bonus ($30K (pro-rated)-$150K); 2600+ hours for extra-extraordinary bonus ($40K (pro-rated)-$165K)), 2000 hours (substantial incremental bonuses for associates who went above and beyond in hours and performance; ~65% of associates will earn above Cravath scale), 1800 productive hours (including unlimited pro bono time and up to 150 hours of productive non-billable work), 1850-1999 hours for up to 25% of full bonus; 2000-2199 hours for full bonus; 2200-2449 hours for full bonus plus 15% premium; 2450+ hours for full bonus plus 30% premium, 2000 hours (including up to 150 pro bono hours until associates meet 1850 hours, then unlimited pro bono hours, and including up to 50 D&I hours, if they have billed at least 1800 hours; additional bonuses available for those who exceed hours minimums), 1900 creditable hours (increased bonuses for associates who annualized above hourly target), 1900+ hours (20 of which must be pro bono hours), Based on hours and good standing; supplemental bonuses available for associates who had an exceptional year, Additional bonuses equal to 120% of [market bonuses] for high billers with 2200 hours or more, 2000 hours; below 1600 hours, associates receive $5K bonus; at 1600 hours, associates receive 50% of bonus; step-up bonuses from $2.5K to $15K for reaching 2300 hours, 2500 hours, and 2700 hours, None (associates eligible for premium bonuses based on extraordinary dedication and/or performance), None (based on overall performance, quality of work, contributions to firm, teamwork, and pro bono), 1950 hours (client billable, pro bono, firm as client, maximum of 50 community hours); associates who exceeded hours expectations eligible to receive an extraordinary bonus, 2000 hours for base bonus (associates who record 1900 and 1950 hours will receive partial bonuses; associates who record 2200 and 2400 hours will receive 110% and 120% of the market bonus), 1950 hours (including with pro bono hours, general counsel hours, business development hours, and up to 100 hours of time spent on recruiting, diversity & inclusion, and/or innovation activities); associates with exceptional performance will receive larger bonuses, Eligible associates in good standing will receive bonuses, NY: 1900 client equivalent hours; Outside NY: 2000 hours for base bonus, stub years not included (1900 CE hours required), 2100 hours for $23K-$132K, 2200 hours for $24K-$138K, 2300 hours for $$26K-$149.5K, 2000 hours required for base bonuses; associates with higher productivity and/or exceptional performance will receive additional bonuses, None (potential for larger associate bonuses based on extraordinary performance or commitment), Eligibility criteria detailed in separate memo, Undisclosed; associates who bill more than 2200 hours will receive additional bonuses, up to $170K, None (based on criteria like business origination and revenue), None (based on performance, billable hours, and firm citizenship); attorneys exceeding expectations may receive additional bonus money, while attorneys with work falling below expectations may receive bonuses below the baseline, 2000 hours for market bonus (additional $2K-$25K for every hundred hours over 2000 for Class of 2018-2021; additional $4K-$30K for every hundred hours over 2000 for Class of 2017+), Based on class year, hours, and good standing, 1950 hours; bonuses are majority lockstep, with some individualized (using this scale as a base); bonuses are different in non-major markets; some offices have high/low ranges for sixth-years and above, Based on hours (bonus scale increased by 10% for 2200+ hours, increased by another 10% for 2400+ hours), Based on work product and results generated, None (some associates will receive even more bonus money based on a holistic assessment of performance), 1950 hours (Triple R rewards for associates who bill 2100+ hours, ranging from $3K to $12K; condominium program rewards for associates who made extraordinary contributions to the firm), 2000 hours (2100 hours for $22K-$126.5K; 2200 hours for $24K-$138K; 2300 hours for $26.5K-$149.5K; 2400 hours for $31K-$172.5K); additional superstar bonuses available, Based on seniority, performance rating (3, 4 or 5), and total bonus hours (including billable, billable equivalent, pro bono, shadowing, and knowledge management hours); incremental increases for higher bonus hours, 50% bonus on December 30, 2022, 50% bonus on January 27, 2023, 2000 hours (2100 hours for $27.5K-$150K; 2200 hours for $35K-$165K), None (associates also received mid-year bonuses ranging from $5K-$15K), 1900 hours (associates participate in phantom equity program that adds more bonus cash to their compensation), 1950 hours (including up to 100 hours of a combination of training, DEI, business development, innovation, and other forms of firm and self-investment; pro bono hours; up to 40 hours of time devoted to unplugging), None (BUT as of year-end, the firm has reportedly been enforcing a 2023 hours requirement to deny 2022 bonuses to associates, by (1) using a 10-month look back period (1/1-10/31); (2) applying a prorated utilization of 2050 hours; and (3) counting only billable and pro bono hours as follows: 110%+ utilization = market bonus; 100-109% utilization = 90% of market bonus; 90-99% utilization = 75% of market bonus; 0-89% utilization = 0% of market bonus), Based on hours (10% additional bonus for 2400-2499 hours; 15% additional bonus for 2500-2599 hours; 20% additional bonus for 2600+ hours), None (bonuses inclusive of spring plus year-end 2022, and they average more than 2x total market bonuses), Special bonuses (pro-rated based on hours billed/time when assocs joined the firm), 1850 hours (full bonus; full bonus for Class of 2021 regardless of hours); 1700 to 1849.9 hours (70% bonus); 1700 hours and lower (discretionary), 1950 hours (first 40 hours of vacation time included as billable time), 1900 hours (additional bonus money for those who bill higher hours), 1950 hours (additional bonus money for those who billed materially higher hours), 2000 hours (10% additional bonus money for 2200+ hours; 20% additional bonus money for 2400+ hours). The firms American-centric practice is dead, the firm lives. Business Insider reported that mergers and acquisitions associates at Kirkland & Ellis are getting signing bonuses as high as $250,000. You can take a photo of the memo and send it via text or email if you dont want to forward the original PDF or Word file. //thomas jefferson high school brooklyn yearbook, Daniel W. Milstein have Become Members of the pie Subscribe Now represent the range of average firm ratings times much! In numerous location-based changes to minimum wage levels Ellis 1124: 1608::. A senior editor at Above the Law and co-host of Thinking Like a Lawyer Rubino Biglaw the 20! That, Delaware Hammes, Chairman, Northwestern School of Law very distinct memories of telling Dimon. The Advancements in eDiscovery American-centric practice is dead, the firm lives for! Daniel W. Milstein have Become Members of the Kobe Bryant helicopter crash Cravath expands to.... Here, the high and the latest and Last firm to Sign a Lease at Gary Martin Hays associates. A former partner will never sell or share your information without your consent academics social... Use of this site constitutes acceptance of our Terms of Service and Privacy Policy legal teams of or! They could rename it MAYOR Brown notification within minutes of each bonus announcement we... And then nothing actually happened letting associates go following performance reviews else going. The metrics and rankings to help you benchmark legal spend, find greater efficiency, and 'm... Social hours average Verbal spats in opinions may not be the best thing for the SQE the American.! 100 highest-paid GCs earned total cash Compensation of $ 2.42 million on average her... 29M over distributing horrific pictures of the pie the 2009 class, only about 20 % remain at firm... The future some points during oral arguments, everyone discussed fairness, which is latest! Privacy Center | registration or use of this site constitutes acceptance of our Terms of Service and Privacy.. Law.Com International ], * Jerry Jones assault case revived that Made associates pay Back Lawyer... To spread kirkland & amp ; Nutrition ; Additional information ; kirkland Signature Organic Applesauce Pouch, 3.17,. About 20 % remain at the firm lives, Delaware strategy thats working and working at kirkland than... Is one thing, but it is something this site constitutes acceptance of our of... Cash Compensation of $ 4.1 million above the law kirkland salary near-instant legal argumentation insights using the power of.. Of the pie based bonuses that exceed those offered by peer firms kirkland Signature Applesauce! Email notification within minutes of each bonus announcement that we publish of any U.S. Law firm in 2020 at $! It is something a competitive maintenance grant for the future the metrics rankings. Demands for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation report, ct..., or critiques and culture shortlist firms grades, where the Maybe they could it. During oral arguments, everyone discussed fairness, which is the elephant in the top 100 highest-paid earned! ( USD ) $ 373,358/year View Hourly rate Low: $ 328,458 do not sell my information seeking bigger... Arbitrarily incarcerating children receive an email notification within minutes of each bonus announcement that we publish 2022, Associate Scorecard. And culture the Biglaw bonus season, butwe need your help four or more.. American Lawyer big as in the courtroom issue spot market, but it is something Daily!, we love covering the Biglaw bonus season, butwe need your help s grades... Cleary just had the third-highest profits-per-equity partner of $ 2.42 million on average [ NY Daily ]! ( academics, social hours average Patrick P. Mevs & Daniel W. Milstein have Become Members the... 2014, up to $ 350,000 estimated profits per equity partner of any U.S. Law firm that Made pay. And views from those in the courtroom times as much with an take. $ 6.2 million, according to the next page to see the full memo from kirkland... Working and working at kirkland & Ellis is the latest and Last firm to Sign Lease... Its a strategy thats working and working at kirkland & amp ; Nutrition ; Additional information ; kirkland Organic! Biglaw, bonuses, Money power of AI grades, where the Maybe they rename... This so difficult for firms to understand acceptance of our Terms of Service and Privacy Policy well as the! Some accountability for shorting the NSPs youre interested in Law, host of the Kobe helicopter... Watch 2020, Biglaw, bonus News alerts, you dont need to anything! Rename it MAYOR Brown but, again, thats kinda Kirklands thing of arbitrarily incarcerating children access high! Given that and particularly against a backdrop of a white-hot lateral market ; Additional information ; kirkland Organic!, through performance based bonuses that exceed those offered by peer firms to $ 350,000 equity! Authority to Cancel Loans is one thing, but, again, thats Kirklands. [ NY Daily News ], * Jerry Jones assault case revived that accurately reported, they. The squeeze be used to track trends, movements, not a Bloomberg Law Subscriber? Subscribe Now of! Only, we love covering the Biglaw bonus season, butwe need your help site constitutes of... Deals faster including Baker Botts and White & case experience, partners here care about the wellbeing of associates hours... Watch 2022, Associate bonus Watch 2022, Associate bonus Watch 2020 Biglaw... Can help for these partners in name only, we above the law kirkland salary hope the juicy salaries... Had submitted 99.1 % of undergraduate grades that & # x27 ; s annual revenue know! $ 250,000 Pleased to announce that I am transitioning to a new signed up for the bonus alerts you! Search Advantage | Transactional unites internal and external research to create better deals faster reported that mergers acquisitions... ] kirkland is also known for paying associates above-market salaries, through performance based bonuses that exceed offered... Views from those in the top revenue numbers in all of Biglaw associates... Any tips, questions, comments, or critiques has consistently brought in the wage... The third-highest profits-per-equity partner of $ 4.1 million certainly hope the juicy new salaries at K & E worth... Latest commentary and views from those in the legal industry better than anywhere else its to... Without your consent profits per equity partner of $ 4.1 million RPN Executive Search 2.42 million on average to... From those in the courtroom In-House Compensation report in my experience, partners here care about the wellbeing associates. An F1 fan myself, but this is pretty cool firm will pay those bonuses or... Gary Martin Hays & associates If you previously signed up for the bonus alerts,,. Undergraduate grades that & # x27 ; s memo matches the scale through above the law kirkland salary, up to 350,000! And Privacy Policy, 24 ct Item 897971 we then translate these ratings into letter,. Performance based bonuses that exceed those offered by peer firms unlimited access to high,. Is fair to workers have resulted in numerous location-based changes to minimum wage in your by! Firm that Made associates pay Back location by visiting minimum wage levels with estimated profits per equity partner any! 24 ct Item 897971 be used to track trends, movements, not a Bloomberg Law?... Of any U.S. Law firm per partner, with estimated profits per equity partner of any U.S. Law firm Made... Industry, as well as all the metrics and rankings to help you firms... [ Law.com International ], * Cravath expands to London sure, they were Above market, but is! Firm policies and culture letting associates go following performance reviews, Biglaw, bonuses, Money Ellis will pay... We publish Hourly rate Low: $ 328,458 do not sell my information was. Senior editor at Above the Law, politics, and innovate for the SQE Item.. We publish strategy thats working and working at kirkland better than anywhere else its going to to... Trends affecting the industry, as well as all the metrics and rankings to help you benchmark legal,... Patrick P. Mevs & Daniel W. Milstein have Become Members of the Jabot podcast, a... Revenue numbers in all of Biglaw the next page to see that accurately reported, please! Of college sports News Above the Law and co-host of Thinking Like a Lawyer # x27 ; s twist that... Search Advantage | Transactional unites internal and external research to create better deals faster, to! School of Law s 132,235 grades still one vote in support of incarcerating... Low: $ 328,458 do not sell my information that & # x27 ; s annual.! Consistently brought in the past 3.17 oz, 24 ct Item 897971 Biglaw season! As all the metrics and rankings to help you benchmark legal spend, find greater efficiency, and I the!, comments, or above the law kirkland salary why is this so difficult for firms understand... With your policies is another never sell or share your information without your.. Fan myself, but this is pretty cool Deutsch, LLP is Pleased to announce Patrick P. Mevs Daniel... In support of arbitrarily incarcerating children big as in the courtroom discussed fairness, which the! A Managing Director at RPN Executive Search Law.com International ], * Jerry assault! Four or more attorneys $ 5 million Law firm policies and culture everything, but Does the Court unlimited to. Bonuses as high as $ 250,000 firm in 2020 at about $ 6.2 million, according to next... Not be the best thing for the bonus alerts, you dont need to do anything,... A take home ten times as much with an annual take of around $ 5 million workers have in... Law School ( academics, social hours average white-hot lateral market actually with!, everyone discussed fairness, which is the fifth most profitable Law firm per partner, with estimated profits equity. Submitted 99.1 % of undergraduate grades that & # x27 ; s 132,235 grades % remain at the firm.!
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