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When I left my B4 firm as a SM, they were telling me target comp for partner was $500k by 5th year as partner. Where it goes from there I really have no idea.
I moved to a regional firm fully expecting to make less $ but looking for something different, not realizing our avg partner comp was $1m at the time. Ended up hitting 500 in my third year and hit our average in the 6th year.
I like the OP assertion that the incremental $ after $500k isn’t worth compromising other needs for.
Personally I loved my B4 firm, still do. But I found a situation that is great for me. And the $ ain’t bad. Probably everyone in my family before me worked a lot harder for a lot less $. But they gave me a stable and supportive family structure. I try my hardest to do the same, for my family, I have the luxury of not having to worry about $ at the moment
There is no single answer.
Some non B4 partners average more, some similar and some less. It's not a perfect bell curve. More firms average a little less than B4. But depends on the firm and it does vary across the board.
There are many other things to consider as well: perks both monetary and non monetary, lifestyle, culture, autonomy, support, risk, and more, etc.
Some of the above may be better at B4 and some at non B4. Some are intangible and "better" depends on the specific person.
Bottom line - partners in top 10, top 20, top 100, top 200 firms, and so on etc, can all have amazing careers making a boat load of money. And some are happy and love their job and some are miserable. Depends on the specific person and the firm , and sometimes the match of the person and the firm. And some are poorly run firms with a very low average.
Once we put aside rooting for our our team and brand, the reality is that there are a ton of great opportunities across numerous firms of all sizes. And there are a lot of pitfalls too.
Mid tier firm partners don’t have better work life balance unless it’s more like a local firm.
partners at BDO start at $250. Not sure what our senior partners make, I’m sure some of the ones on the verge of retirement are around $400. What do B4 start at?
Sounds like living the dream.
I’ve heard 400-500 range for midsize audit partner and 700-800 for B4 audit partner. Both seem like sweet paychecks to me.
1st year Partner comp for GT Target is $300k, Several partners at around $500k after 1st tier increase (3rd-5th year) based on “contributions” to the Firm. Regional managing partners and service line leaders range $1-1.4M
You can work by yourself and make a lot of money. The amount of money someone makes has less to do with the name of their company and more to do with the abilities, personality and luck of the individual.
So you think it’s more than 50-60% of big 4 comp? IMO, The marginal benefit of compensation in excess of $500K isn’t much and therefore it may be best to have more of a work life balance at a smaller firm
Seriously 250k 1st yr partner at BDO . That is all for the stress, politics, hours .
I know a senior partner who males around 1.5 million
So if BDO1 is right that first year partner is making $250k and that’s before paying for the buy in, the health insurance costs and a couple of other expenses, why would anyone even want to do it? You would be making more if you stayed a director. And all the aggravation of PCAOB inspection, internal inspections, peer review and getting punished/penalized for the results monetarily. All the politics, drama and expectations.... it doesn’t pay off for many years - not worth it in my eyes.
Ey op. No BDO is a partnership not s cotp.
Friend of mine is a partner in a small firm. Pulls close to a million/yr. He's a rarity but the size of the firm doesn't really fully dictate what a partner can make
Yes but could be higher than 500K
B4 partner I know in an eastern large metro area started his first year at 400
Much higher for B4 senior partners!
The managing partners at my last firm (75 professionals) were well over $1M.
I’m looking for the average partner compensation. Sure there are outliers all over the place. But what would an average 10 year partner at EY expect to make vs a 10 year partner at Mid tier. No speciality roles, just your day to Day partner level professional. If mid tier is in the ballpark, then makes no sense to stay unless you truly care about B4 prestige
It’s not in the same ballpark! Not even close.