The Smart Way to Pay Partners Transitioning into Reirement

How to create a win-win.

By Marc Rosenberg
Partner Comp: Art & Science

Years ago, I had a consulting project that involved interviewing the firm’s eight partners in December and convening a group meeting in January. One of the partners was retiring, cold turkey, December 31.

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He had been a great partner for 40 years and had successfully transitioned clients throughout his two-year notice period, so well that during the last month or so prior to his retirement, the gentleman literally had nothing left to do and was no longer coming to the office. But he was willing to make a special visit so I could interview him.