Rainmaking Partners Embrace Forgivable Loans as Key Retention Tool Amidst Lateral Market Competition
New York City, NY – In today’s competitive legal market, law firms are resorting to forgivable loans as a retention strategy for their rainmaking partners. The use of such loans has gained prominence as firms aim to keep their top talent amidst the constant barrage of tempting offers from higher-paying competitors. Shearman & Sterling, a prominent global law firm, recently employed forgivable loans as a tool for partner retention during its negotiations with Allen & Overy. The firm utilized these loans to incentivize partners in key practice areas to remain with the firm, as per … Read more