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

Blane Prescott, a managing shareholder at MesaFive, commented on the practice of Biglaw firms employing 'golden handcuffs'—a tactic where firms retain a partner's money to discourage them from making lateral moves. He noted that this approach is uncommon and often signals underlying problems within those firms. Prescott mentioned he does not favor this method and does not foresee its increased use in the industry, indicating a shift in how firms may retain talent in the future.

They think by holding on to your money... 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.

I’m not a big fan of this technique and don’t see its use increasing in the future.

Read at Above the Law