I’m a solo practitioner with a focus on bankruptcy/restructuring. I’m in discussions with a former law partner (finance) about forming a partnership. We want to learn the best way to locate independent contractor/per diem associates with finance and/or bankruptcy backgrounds. Any suggestions? NY admissions preferred. Thank you in advance.
My partner is in an industry they love but almost always has to work weekends. Their off days are during the week. I was able to cope/avoid it when I was occupied by work travel, but since covid I’m really discouraged by it now and when thinking long term. It feels like I’m alone all the time and like I can’t plan trips or time together to make up. I have great benefits but they seem useless in our situation. I usually enjoy alone time, but it’s starting to get to me. Any advice?
Anyone start a consultancy on their own? How was it? Looking at my rate, partner pension definitely soaks up all the winnings (not complaining, we are paid well), but I’d like to be the captain of my own ship and take more of the earnings.
I’m a 5th year associate at an AM200 firm where typical partner track is 7-8 years. The firm is pretty hush re partnership likelihood, but I’ve always gotten good reviews, met hours, and even generated a little business. That said, I honesty have no idea if I want to be partner. I don’t know what comp looks like, collection expectations, equity buy-in, or benefits looks like.... when is the appropriate time to ask these questions? I’d hate working another 3+ years for something I don’t want.
I feel like quitting law after baby and being a mom FT. Will I regret it? I have worked very hard, brought in significant business for the firm - made partner this year (within 6 yrs) but it has been stressful. I tell myself I should practice at least 10 years but after accomplishing my initial career goals-I feel like I'm done.I don't care. My maternity leave is about to end & I'm dreading the workload & stress- even though it will be WFH. My husband is supportive of whatever decision I take.
Partner at firm is looking to hire mid level transactional jr assc. Commercial transactional experience a must. Strong corporate experience preferred. 100 K plus benefits, downtown firm. Feel free to chat if interested. Should add its a smaller shop but in case anyone is looking of has friends laid off on the market.
I am lucky enough to have a long maternity leave of 16-23 weeks. My husband also can take 16 weeks. I plan to take 21 weeks with STD and Family Leave. For those who are lucky enough to have both partners receiving family leave, how did you break it up? Or for those who wish their partners had more time, when do you think it’s best for the other partner to take their leave time?
Honest to god, Trump and the GOP are just cruel. They were trying to cut food stamp benefits? Really? https://www.reuters.com/article/us-usa-trump-food-stamps/u-s-judge-strikes-down-usda-rule-on-food-benefits-during-pandemic-idUSKBN27417U?feedType=mktg&feedName=healthNews&WT.mc_id=Partner-Google
Just made partner and my wife and I are expecting a baby. Curious if anyone has been in this position previously and how they did their paternity leave. For the record, my business practice is very supportive, but I am worried about metrics/targets in my first year too. Any insight (especially anecdotal) would be appreciated!
Non-equity partner here, planning to put my name in the hat for an equity vote next fall. Looks like my buy-in will be approximately $100k. Question: how do people pay for their buy-in? I've diverted my 401k savings into a savings account for now (my firm doesn't offer a match, but gives us a flat percentage of salary contribution), but won't have the entire amount in the bank by next year. Thoughts? Personal loan? Home equity? Other?
Thoughts on technology consulting SM who doesn't see partner track playing out going to a $1.5B PE firm to do tech strategy work as VP for both the PE internally and also for select companies under management. Not much increase in base pay but 10-20% better bonus and similar benefits. Also an opportunity for carry but not sure how much. Anyone have experience with exits for technology strategy folks to PE firms?
Hi everyone- I am a NE partner at a Work Comp firm. I’m considering moving into a County Council (CC) position. There are a lot of considerations and one being I’ll make a lot more money initially at the CC position, eventually there’s a cap to how much I can make in government work. But I also don’t know the salary potentials at my current firm so maybe 245k (top range of CC position) is about the same as partner + the other benefits(CalPERS Etc) advice on considerations in this decision?
What is KPMG's parental leave policy for partners versus employees (MDs and below)? Trying to plan life and figure out if it makes a difference to have a child before or after one makes partner in terms of parental leave benefits. Thanks!
I’m starting my first year as partner and really underestimated the cash flow challenges I’ve always heard about. With 3 kids, my health insurance is 5x, plus the tax burden, and despite a $100k bump, my cash flow is less. Aside from just being conservative, any advice? My spouse is really confused why a promotion causes financial challenge!
First time home-buyer questions re: tax (or other) benefits. I am looking to buy a house with my partner (not married). She already owns a home, this would be my first home (and it would become our primary residence). Our combined income is $325k/yr (120k/205k for her and I, respectively) and we both have good credit scores such that either one of us could get a mortgage for enough to buy what we want. What are the benefits of the mortgage being in one vs. both of our names? (CONTINUED)
Leaving Financial Services audit role after 4 years, have a few questions for anyone who has gone thru this process - How does the whole handing in your laptop process go down these days? - Any advice on who I should first communicate this news to? (PML/counselor, Partner, HR) - Any advice on things I should look to do during my last 2 weeks with the firm? (i.e. CPE credits - How is 401k account handled? Should I reach out to someone at my investment advisor, or will I be contacted by someone?
What is a reasonable amount to pay for a mortgage each month? If my partner and I make a combined 350k a year, how much should our house budget be? Struggling to decide what a realistic cost is. We live in NYC and don’t have much overhead besides standard bills (cell phone, internet, electricity) medical, and 401k contributions. Any examples of what others have and pay is much appreciated!
Ok rich or going to be rich fishes. I need advice on a 9-5 job vs freelance. My partner is the primary earner makes 400k all in including bonuses. Has a pretty steady job. Puts in 50-60 hrs a week. I earn 145k all in at steady 9-5 job. My job is less demanding. Probably 20/30 hrs a week. My question is if I should go freelance and using his benefits open an LLC. I might earn half the ant but can write off some tax stuff and free up time to put my hands on other things like real estate etc. cont
Fellow Partners/Principals, how does Partner deferred comp/pension work at PWC and EY. I have direct admit offers (verbally confirmed today) from both. I am also in the process of switching to Principal track Deloitte in the upcoming FY and Deloitte’s pension is based on avg of your best 3 yr. I am hearing that may not be the case at PWC. I would like to account for that in negotiating fair signing bonus and/or annual income offer. I am leaning towards PWC. Thanks in advance!
What does an Operating Partner at a PE firm make (base/bonus/carry/other benefits)? How hard is it to make that move as a big4 Manager/Senior Manager or is there another way in?
Partner Question: If your top line monthly distribution is $100k, how much are you actually earning after taxes, medical, 401k etc.? I’d imagine the big 4 firms have fairly complicated state tax structures but curious if there’s a benchmark you use to think about it
I grew up poor. I work in biglaw now. I just about paid off my student loans over the last few years. I saved a small emergency fund, and I’ll now have a good amount of extra money every month. I’m also maxing out my 401k contributions. I’d like to use the extra $ to set myself up for the future, but I don’t know what on my own and I don’t have anyone in my family to talk to about it with. How do you pick a financial advisor? Is it tacky to ask a partner or someone at work for a recommendation?
My partner is a PhD student, US resident alien, and Indian national who has been a student in the US for 6-7 years now. He’s struggling to find a tax filing platform which’ll allow him to report income from fellowships and PhD salary, and also claim India-US tax treaty benefits. Does anyone know where he can get started?
Can anyone share what the process looks like when you resign as a Big4 partner? Likely taking a position with a competitor. Expecting some difficult conversations around the client non-compete but not sure what to expect in terms of getting your capital out and cashing out pension (not vested yet), tax support for current calendar year, etc.
On paternity leave for next month. Also have a 3 yr old. Partner emails and asks if I have 10 hours over the next couple of weeks to work. What do I do?
How is maternity leave for equity partners handled at your firm? I’ll be the first female equity partner at my firm to have a baby (which is insane, but let’s set that aside) so there’s no policy at this point. I think the other partners are looking to me for suggestions, but I’m not sure what to propose. Would love to hear how other firms handle this. In case it’s relevant, I work at a boutique firm in Chicago.
Anyone in the UK here? Looking for some FIRE tips. Current ‘waterfall’ is: 1/ Max out pension contributions (just under the new taper threshold so £40k/year) - mix of tracker and active 2/ Max our 3 year carry forward allowance on pensions, 3/ 20k/year in ISA (had paid into a LISA for one year but live with my partner who owns, so unlikely to use this for first home purchase; will wait until 60), 4/ Paying down mortgage before end of 5 yr fix, so we’ll be at 60% LTV. Any tips beyond this?
Second year Consultant who came from a benefits broker. I feel like I am very much still learning the ropes of consulting. Was asked to help on a deck for proposal work for something I have no background/knowledge in. Told by the partner that I wouldn’t be creating content just story boarding and managing and organizing in the deck. The manager, familiar with the proposed solution, however seems to be annoyed with me that I didn’t create content. Not sure what to make of this?
Big 4 partners: is there a firm-specific risk to the partner pension, like if the firm were to go under (e.g. Arther Anderson)? I assume you could mitigate this by taking lump sum, and investing, but wasn’t sure how this works.
Does anybody know how HSA benefits work with unmarried domestic partners? We are on same health plan but it’s unclear whether hsa is tax advantaged or not for my partner. Online info is very unclear as well.
What partner retirement packages do big 4 offer? Do partners typically get an annual compensation for life after retirement or do they just get a retirement pension (fixed sum) that they can withdraw from after retirement?
Just curious if I might be a little protected from layoffs since I had told HR that my partner is pregnant way before all this. Trying to make it to paternity leave. Does it matter?
Why does the Big 4 pay their consultants so much less? Is it because our margins are lower or because of the partner pension plan?
ECDs and partner-level people: what are the revenue share benefits you work out? Do you get percentages of the business you win for as long as you keep it? What do these deals look like?
For B4 equity partner/principals- how do put a value on pension in terms of annual replacement cost and years invested? In conversations with a public firm and need to put a line in the sand for offer
SM asking big 4 for 180$ base. Just got a boutique firm asking me to contract for a 18 months. Given I have to pay my own insurance, health, benefits etc., how should I calculate a good hourly rate.
What are the cons to using investing apps like Stash. Not a finance guy, don’t have time to “watch” the market” and want to invest outside of my 401k and Roth. Second Q, Roth Vs traditional?
I’m 24 and making 100K base. Thoughts on allocating traditional 401K vs Roth 401K? Already maxing Roth IRA.
What are your personal financial milestones? Whether it be achieving a certain annual salary or maxing out your 401k contribution annually, storing X% of annual towards investments, owning X BTC, etc
Ok be honest... what’s harder, being on maternity leave with a newborn or being an Associate during a crazy busy month at work? I know the real test comes when you return to work after leave, but what about before that?
How many of you stay in corporate apts vs hotels? Just signed a corporate apt lease in a modern luxury building with great amenities. Same airfare and meal policy. Benefits outweigh losing the points?
Got inquiry for an account executive role for a health insurance company. Not sure if I’m qualified but I’m curious to see if it’s a viable stretch role. Any advice/insight into how I can cont.
Do any of you use your personal airline credit card for booking business travel so you can earn miles? And then, of course, you submit the expense for reimbursement
Does maternity leave time count toward the two years you have to do post-MBA for tuition reimbursement?
Need advice: starting a new job in ~2 weeks but on vacation through Thanksgiving. Not on a project right now since I’m on vacation. Slated to start a new project on Monday (which would also be my last week of work). Would you give your 2 week notice today? I am afraid of my employer deciding to terminate me outright. I don’t want to lose health insurance or vacation pay. Also don’t want to burn bridges or be an ass. I work at a consulting firm, in CA, at-will (firm requests 2 weeks as courtesy)
I was just getting around to my tax return and it looks like I may have to pay tax..my wife and I both work and had 401k plans.. can I do a IRA? Anything else I can do?
What are some productive things you did during your paternity/maternity leave? I’m thinking about taking a post grad class to keep active. Another option I am considering is researching startup ideas
Planning to have a baby next year. Recommendations on insurance to choose to get the best value? Sorry if this is a basic question. New to US health insurance policies.
Has anyone taken out money from their 401k to buy a home? I think they say it’s usually 10k max. What is process? Are their penalties?
Making sure I’m not crazy...if an agency books you for say 2 months. And it’s day rate. You get paid for the days that they booked you regardless of whether you have stuff to do/waiting for client feedback, right? I’ve always done it this way bc technically you could have taken another job but have committed that time to them. Current gig keeps trying to get me to not bill and “take days off” while waiting for feedback. Just trying to see if this is as shitty as it feels.
Can anyone of you may help me in knowing what Big 4's Transaction Advisory Services - Financial Due Diligence profile pays to Chartered Accountant from Audit background with approx 1-2 yrs of PQE.
Is there any sort of TSA Pre or Global Entry option for Indian immigrants in the US? Heard about SENTRI/FAST, but not sure what the benefits of those really include?
Have a Facebook interview for data engineering role. Does anyone have suggestions on prep materials for advanced MySQL and Python?
Hi Ladies, I was impacted by the COVID-19 layoffs a few weeks ago and let go from my job at Deloitte. I have 2 years experience as an IT Auditor with the big 4 and I am in search of a new job. I’m currently residing in Atlanta Any recommendations on where to apply would be greatly appreciated.
Okay seriously, Roth or traditional IRA. In my early 20s about to jump to a startup and need to put my 401k somewhere. Yes assuming that I will be in a higher tax bracket when I retire...cont
Looking for advice on choosing between MBA, MSF or MS in Analytics -all would be at a sub top 10 school. Is it even worth considering ?
In a promotion year at PwC, but don’t know if I can get it. Is it likely to be able to jump from SA to Manager if I leave for another firm?
Just curious. Why would a Partner have short stints at firms after having been a Partner for 12 years at a Big4? Was browsing LinkedIn and saw an Audit partner’s work history. They don’t seem to be currently employed. Listed most recent: Midtier - 1.5 yrs, Another Big 4 - 2 months
Got a bonus ~15k recently. Do I DCA into the market or lump sum it into spy and qqq (will split evenly)? Will proceed to throw 1.5k each month in continuously. No need for cash right now with no big purchases coming up
Deloitters complaining about comp and lack of transparency. Happy to help: 95% of you complaining are a 3 or 4 / mid to low performer. If you’re unhappy, move on and be mediocre somewhere else. 👋
When people talk about these $200-300k+ software engineer/coding jobs at the big tech firms that they’ve landed right out or a few years out of school, are these people like prodigies or are these jobs reasonable to get for more ‘normal’ people coming out of decent schools. Why wouldn’t everyone just do that instead of much lower paid consulting?
Would it be too much if I asked my parents if I can get a small work desk to keep at their house while I live there? I'd be so much more productive.
I don’t get it... only ugly guys like me on apps, but in real life I get hit on by nice looking men. Everyone says my pics look like me, so what gives? It’s so hard to meet people in person now because of Covid
Your birthday is in a few days, you just got your bonus, are happy with your savings/retirement contribs, and have disposable income. What do you buy yourself for a birthday gift?
How much python do you need to know to be of use as a fresh analyst on a data science project? Spent the past month finishing data camps python program and some pet projects