Partner

So I received an offer that is +45k putting my total salary at 170 as a senior and I tried counter offering but my partner said to me that money will always be there but that I can’t buy connections and growth. I don’t understand the mindset behind this? Isn’t more money today worth more than more money tomorrow?

Decided to leave D for 8k salary bump as money matters a lot to me (I’m from a very poor family). I got early promoted this year and the partner likes me a lot. Am I making the smart move?

If you made 275-300k total comp (pre tax) and had no loans and no kids and lived with your partner (who has very uncertain income) in hcol city (New York, LA etc) how much would you spend on rent?

Covid Rate Check: with all this talk about not dropping your day rate - I’d love to hear what people are charging. Me an my partner are trying to hold our rates but getting difficult. 👇

Thoughts on splitting rent and/or utilities bills based on income? Living with my partner where our difference is ~100k in gross salary

I am 5th year SM and hope to be a partner by next year or so. In my early 40s with young kids.. so thinking about my next move and WLB. I am being approached by Recruiters from large tech companies with VP level role with a total comp of $500k or more. I am double minded now if I should stick to my PPMD track or make a switch now. Money is definitely important ... so wanted to ask your opinion if sticking with PPMD track will be more lucrative in long run. Thanks.

What’s the avg starting salary for a Partner at your firm?

I just reached 200k total comp. How long did it take for you to reach 300k total comp? Currently 32, and want to pay off 200k in student loans and have kids by my own. No partner.

If you made $225k total comp pre-tax and lived in HCOL area (but not quite NYC bad), how much would you spend on rent? Assume you’re debt free and will largely be WFH and live with a partner who also is WFH. So good space is important (not living the traveling consultant life). Partner can contribute but not a ton ($800-1000/month). Trying to figure this out. Thanks for any thoughts/insights on how you’d think about this.

Would you turn down a job offer (firm culture unknown but not notoriously terrible) that would pay 70k more per year before bonus to stay at a firm with good culture under a partner you really like?

As a managing partner, I’m always looking to find talent. Other than comp, what are associates really looking for in a firm? What will set a firm apart from others?

We had evaluations and normally we have annual raises. I think my salary is under market value at $68k (plus OT) in Los Angeles (5 years of experience). I was told I am one of the top employees in the firm. When I asked about a raise, I was told “when you think about it at your level 5k to 10k doesn’t really matter it’s the long term goal that matters”. What would be your response to that, to a partner who is making 500-600k a year?

Can we have any partners within this post comment on starting partner salary, and salary growth over the years (please call out service line). Some of us are thinking of this as a career track! Cheers

I’m thinking about turning in my 2 weeks notice at the firm that I’ve worked at 10 years this week. No raise, no bonus, was told that partner track was delayed a few years for a variety of non performance reasons. I met all sales and other goals. I have another job offer I’d like to take from another firm. I ordinarily wouldn’t quit during busy season but this year busy season is literally January 2 - October 15. Thoughts?

CWs, how proficient are you in photoshop and id? I’ve always had a solid partner, but they have since been laid off so a lot of the comp work is now on my plate. Any good online classes to take? Thanks!

5th year tax partner at a top 10 firm, northeast region. I’ve been nonequity so far with a shift to equity this coming year. Current book is just under $3m. Am curious about how my compensation stacks up against big 4 and other top 10 firm partners from same region. Feel free to dm me if it makes it better. I have no problem sharing that I’m at just over $300k.

Any ideas on partner level comp at regional firms? I heard that at my firm (ranked ~20th) partners start at $150k and wonder why anyone would stay for that level of comp. A partner also told me that they have no additional perks above and beyond what managers have, which would be paying for club membership at manager level. Located in Milwaukee for reference.

Thoughts on a late 1st year going in-house? I'm getting close to an offer with a decent corp, in a dream location (Miami) with equal or slightly increased salary (cravath scale). My story is unique because I had significant experience prior to law school that makes me somewhat marketable to the company. While I'm well aware of my limited practice knowledge, I don't feel like I'm actually learning in my current role anyway. I also have zero interest in making partner. Is this too soon to jump?

Partners, why do you purposefully do not disclose details regarding partner compensation (structure, pay level, etc.)? Is it a cultural thing?

I’m at a small firm, and one of the other associates looks like he’s gonna leave. So the partner offered me the associate’s entire bonus if I tell the partner for sure he’s leaving. Horrible, right?

I have an opportunity to move from an AmLaw 20 firm I am really enjoying to a top 5 firm that would essentially double my compensation. Very conflicted. Thoughts? Some important context (I regularly bill 2100 hours a year and am fine with it but this is kind of my ceiling for sanity. I am a dad of two and a husband and the only one currently making income, I don’t particularly care if I am ultimately a well-paid service partner or of counsel and I’m a white collar/comm lit associate (3rd year)

Are secondments for salary partners generally a nudge out the door? My spouse is a salary partner at an AmLaw200 firm. Her PG leader offered her a secondment with real responsibility at a newly regular client with a growing book of business. In a later conversation, she told the PG leader her goal is equity (not this year but eventually). The PG leader says she is on track but also that the group has recently made new equity partners and “everything could change tomorrow.” Is she being nudged?

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?

Looking to join a small VC as a partner and wondering how much carry I should negotiate for. I will be the third partner in a second fund of ~$100M. First fund was very successful (3.5x after a couple of years). For reference, my current total comp is ~$400k-500k, depending on the bonus this year. Thanks in advance.

How much does a partner have to bring/ expected to bring in annual sales roughly to make ~$1M in salary? Is there a target you have to meet?

For those that plan to stay in PA and pursue partner, let’s say you make partner. What’s your total comp per year goal to be satisfied with your career?

Came into public accounting from school & put my head down & made it to Senior Manager (maybe a year early). Now, reflecting, I am considering whether this is what I want to do going forward and worried about being pigeon-holed to tax for life if I stay longer. Comp also has never kept up to expectations. For others who’ve been in this position, what made you stay or go? Is the grass greener? Or should I stick with it and be happy w/ slight chance at partner @ some pt down the line?

I would like to renegotiate my salary. I have been at this firm for 6 months. The pay is low for the billable hours req. Our hours are based on the hours after partner cuts them. More in comments.

What are people’s thoughts on billing the minimum number of hours required to hit your bonus (or close to it)? If you have no interest in making partner, is there any reason to go way over your min?

This is a question that has been asked (apologies) but I can’t seem to find a super concrete answer. If you make partner at Big 4 how long until you (as an average partner) crack 1m total comp? Thanks!

How are things at other WD partner firms? So far at alight this covid has led to 1. Increments canceled 2. Utilization Bonus cancelled for q2 q3 3. Now 1 week furlough ☹️☹️

Beginning to wonder if I am underpaid. 15 YOE, at a firm where principal is the level just below partner. $193k base. This is the least transparent bonus structure I’ve ever seen - last year it was $20k after receiving a top rating, and that bonus amount is apparently considered “very high.” Reasonable or low?

What is the highest salary you can hit in public accounting without being partner in audit, tax, or advisory?

Curious about leadership compensation - does anybody have an idea on what partners make? And the scales for that i.e new partner who’s still “salaried” vs. equity partner of a offering vs. Consulting lead vs. CEO ? I’m in the Canadian firm so info for that would be ideal but other countries/firms would be good to know too.

Comp question for VC. My firm is fundraising a third fund. I’m not expecting my full bonus this year; I joined in April. At bonus time, I’m thinking about asking my partner if he would match my contribution to the new fund if I dedicated my whole bonus $ to it? So ex. if my bonus is $20k, I take none of it in cash, put $ in the fund, and ideally firm matches another $20k. My reasoning: it’s a deferred comp rather than cash, and I want to show I’m dedicated and plan to stick around. Am I crazy?

One of my closest friends needed help launching his brand. I helped them for free. He casually reaches out every week to discuss stuff in detail. Hasn’t done it much recently, but now he wants my partner to provide their POV on their area of expertise. My partner and I are currently looking for jobs, and I feel it’s a bit insensitive of him not to offer some compensation. I’d ask for it but im a bit confused if doing so would make me a shitty friend. Isn’t that what friends are for?

If I know how many attorneys there are at my firm, how many equity partners there are, the hourly rate associates and partners bill at, and the yearly billable requirement is it possible to estimate how much an equity partner would take home on average? Or are there too many other factors? I’m just curious. Our firm is super open about how much everyone makes (from associate to C and B partners) but idk how to figure out equity.

Question: All would like to get some input from seniors strictly from a financial stance. I transitioned from consulting to FAANG (4 yrs experience post UG) and was having a conversation with an ex-partner this past weekend who was advising me to go to mba school and considering high finance. Strictly speaking from a comp perspective - is it true that the ratio of folks breaking the $1M a year barrier to entering analysts is significantly higher in finance than in high tech?

Is GC a better job than law firm partner? Seems like the comp is generally lower