Managing Partner Q&A

A managing partner at a large Public Accounting firm is answering your accounting related questions!

Is there a change in health care coverage when you become a partner? And does it extend into retirement or is that just a rumor?

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New to the roll of Partner. Any advice on transitioning? I’ve hit a few speed bumps since the retiring partner is not letting go of his clients and they don’t know I’m the new partner.

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What’s your opinion about employees attending training “school” but not attending classes because they partied too hard the night before? What if they got the code and reported as if they attended?

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Why aren’t there greater initiatives to include older Staff/Seniors? While D&I is great, an entire demographic is severely being overlooked.

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I own a small, 4 accountant shop. How do you larger firms manage employee risk as far as making mistakes is concerned? I know we all make mistakes and I'm not afraid of honest mistakes. However...

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12+ years experience in top 100 firm (not b4). Thinking of making the move to b4 and curious if there is still a chance for partner or not enough time left to make it economical. I'm over 40.

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Does anyone have the cohort model for Assurance?

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Where do you see future of accounting and auditing in 10years from now especially with emergence of digital audit and automatics tools.

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Thoughts on compensation transparency? Wouldn't everyone benefit from being more transparent on compensation?

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Eating hours. We are told to never eat hours and to bill time accurately. But then managers tell their staff (per many posts on FB) to not bill all their hours because the staff took too much time…

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From what I understand there is a partner buy in requirement. Obviously those will vary from the firm. What was your experience, as in how much did you have to pay to buy in? (Continued)

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To the partner answering these questions - Thank you! To partners reading these posts - please recognize the need for better communication, honesty, & mentoring. Just my honest reaction to this bowl.

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Incoming associate starting in a few weeks! I come from a poor background so I definitely excited for the opportunity. If you could go back in time & give yourself (1st yr) advice what would it be?

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How would you recommend doing upward feedback without having it come back to bite you? I know mckinsey has a freamework, State the facts, how it made you feel and state a solution

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How would you compare the road to Partner in a mid size office vs a large office?

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I am a manager currently working 7 projects, owning them as if they are mine, increasing revenue, managing and growing my teams. Partners give me too tier ratings, 1mil wins 3 mil pipeline. CRT feedba

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Thanks for your feedback and your ongoing patience. I got through some more questions today, but still have a handful to go. Having fun and hope that everyone finds my answers helpful.

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Do you have kids? How old were you when you had kids & at what level? How did you manage with young kids? I’ve a 2yr old and being a Senior makes it incredibly difficult to have balance at this level

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How do you know who is crushing the job vs. who is cruising by? At one point or another, we have all had experiences where someone above us gets the credit for accomplishing a job when (cont’d)

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I left EY where I had very good relations with people and built a good reputation. My destination was another big4. Three things influenced my decision to leave - inability to get off big client (cont

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