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Additional Posts in Partners in Accounting
What does everyone think about the EY news?
What are the partner buy in at the B4?
What is the comp model for partners at A&M
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Resigned as a partner from a PA firm and joined as partner in another PA firm. New firm gave me credit for years at prior PA firm and I will retire with full benefits at new firm. Comp is comparable and much better culture. Win win.
Here for the comments. Mostly curious if firms ever actually enforce noncompetes.
Also here for the comments, but I have heard firms do enforce non competes depending on the significance of the client and the departing partner’s involvement.
Do partners who switch firms typically get signing bonuses from the new firm or are signing bonuses not a “thing” for owners?
Noncompetes aren't valid in California, but it feels like partners still abide by them in public accounting. Seems like attorneys have no problem moving from firm to firm as partners though.
They are 100% valid in CA and enforceable between partners. I am a partner in a firm who successfully sued departing partners to enforce the non compete and we won and we were awarded the full damages plus attorney fees.
Yes. They all enforce it. It’s business. Unless you are getting counseled out or not producing. Stay true to your agreements. Good luck.
PwC2
This is not accurate. Please see my other post on this thread.
A superior court judge enforced the non compete in a case where I was involved. This was in CA which is considered to be liberal and individual friendly.
Supposedly noncompetes are not legally binding for attorneys. Generally at the partner level you might lose your capital and have some restrictions that can be negotiated even if there is a standard policy in your agreement.
How do you explore opportunities at the partner level? It’s such a small world, seems you can’t really explore” unless you’re committed to moving since word of exploration may be a kick in the rear out the door