[johnrgrace]

you have to buy a partnership. The firm usually makes you an interest free loan to buy the partnership. Some people bought into arther anderson right before enron blew them up.

The partnership is often the most valuable single asset a partner owns. It prevents them from jumping ship and taking clients. And it acts to hopefully prevent a partner from taking risks that could destroy the firm. Even senior people who might become partners in the near future will not want to put that partnership at risk.

When you retire, they'll buy your partnership out - often paid out over a few years.