Which Biglaw Firms Are Using ‘Golden Handcuffs’ To Keep Partners From Making Lateral Moves?

Ed. note: Welcome to our daily feature, Quote of the Day.

[They] think by holding on to your money (assuming they have an agreement that says they keep it if you leave before it gets paid out) that that will trap you in the firm. It is not a common approach, and frankly those firms tend to have other problems they aren’t dealing with, hence they think they need golden handcuffs to keep people there.

— Blane Prescott, a managing shareholder at MesaFive who consults with firms on compensation, in comments given to the American Lawyer, on one of the methods Biglaw firms may use to discourage partners from making lateral moves. Prescott went on to say he isn’t a “big fan” of this technique and doesn’t see its use increasing in the future. Is your firm using golden handcuffs to keep partners in place? Please let us know, either via text (646-820-8477) or email.

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.