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*Turns towards camera*
He hasn’t.
Favourite tech mogul?
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Anyone has enrolled agent notes?
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Coach
I started at $350k as a first year tax partner. I would need to confirm but I was closer to $550K by my 5th year and those were recession years. I made partner in 06.
P1 how do you get a bob like that? Was it you finding business or u just get clients from ey?
That’s probably in-line for non-equity. Numbers below are for non-speciality tax.
Big 4 first year and top 10 first year both at $350k (equity partners) for general tax.
First year non-equity partner equivalent at big 4 (eg, MD at KPMG) starts at 200k. Might seem low, but you still don’t have buy in or need to worry about health insurance, taxes in 50 states, etc. for non-equity.
d1: They tend to keep consistent across US for equity partners in a group unless they were a DEP. Only difference would be # of units since they try to keep at ~$1,000/unit.
You’d be surprised, bonuses are still relatively crappy at MD level. Think 5-8% for top rated, maybe 11-12% if exceeded plan (ha!).
I’m not a partner, but I know SM’s making close to $300k, M&A tax.
Mentor
Yes. I was making $280K as an ITTS SM before making partner. Many of us are JD LLMs too.
So do partners make 10% of their book at Big4? Would that be a fair estimate, understanding there are other factors that go into it too?
Mentor
No. Doesn’t work that way at all. Wish it did.
I would like to know this as well...
Coach
I guesstimate my tax partners in MW make approximately the same with the same book of business.
I’m supposed to be admitted this upcoming year and was told that first year comp is expected to be a shade under $500k.
3m engagement revenue and 5m overall client