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Starting partner "salary" across lines of service is 350k. Echo ey4 that every first year partner will tell you they made less first year than last year at director because of all their new expenses (healthcare, buying in, taxes in every state, etc.)
It very much depends on your specialization and client/delivery capability. MBA or not you're likely at SM in Advisory a minimum of five years. Almost all new EY PP promotes make the same thing 400k less healthcare, taxes, equity buy in, etc. After three years (buy in completed), you're eligible for partner distributions based on performance (firm and personal). Assuming you meet your numbers each year and drive the market, you are looking at high six figures maybe low 7s after 10 years as partner.
Oh my....😳😳this is very eye opening
7 years, after being a partner for a few years avg comp is $1.5M
Lol the low salaries scared away McKinsey OP
15 years?! Whaaaaaaaaaaaaat???? That's insane.
It honestly is kinda bullshit if you think about it. No wonder why so many leave for industry
Oops, not big 4
KPMG please explain how in slightly over a decade making almost 7 figures is bullshit. Just curious where your thought process is
^^^lol. Happens all the time
OP, I know quite a few Engagement Managers who made a lateral over as Partner or MD in Big 4. If for whatever reason you can't make it at MBB just come to big 4 as a Partner
Real money is PE money
On average advisory partners first couple of years will actually be making less than their sen mgr salary, no way they start anywhere near 650k try 250-300k minus pay back
Clearly a lot of people have no idea. 8-10 years, $1M is about average. McK1, what's the MBB rundown?
650 seems low for average partner comp. we start as senior associate from Mba. 3 senior. 3 Manager. Director 3-5+?
First year out of MBA is a second year senior associate for us. Can make partner in 8-10 years. First year partners make roughly half a million but it can go up very quickly.
^he said post MBA. So you'd start at senior associate
12-14 years (3 at senior, 4 to 5 at manager, 5 to 6 at senior manager) for post-MBA. I've heard $650k is avg. "starting salary" for partners in Advisory. I don't believe that is total compensation
For MBA hires at EY, which will be nearly identical to the other firms, it'll take between 8-12 years(could be longer). The pay stated above is probably accurate, but EY does have a very generous partner's defined benefit plan that is definitely the best of the big 4 which helps compensate for the salary differential.
Yeah 13 years was nothing for audit partners that age. Nowadays that would be very fast for audit but for bomo's age group that was nothing