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Constantly resisting the urge to quit
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Do we get dividends over vested RSUs?
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Subject Expert
Lots of valid points above but also remember K1 vs W2 differences.
Yes, our on paper $ are much higher but we have to pay partnership taxes out of those. You really need to compare cash flow vs comp.
I’ve had approximately 4X in appreciation which obviously isn’t sustainable but I am expecting a $4500 share price given current cloud adoption vs projected adoption which we’re tracking to. Thats great for what I currently have vested or vesting but it’s foreseeable that my TC falls this year as a result (salary is 160k, so vast majority is RSU).
The risk there is also anti-trust but now on the AWS side, it would be the most valuable company on the exchange.
I’m not tied here though either so it’s more straightforward for me to exit to other companies as well so I could boomerang back to consulting or other industry at anytime in fairly senior roles (based on my current role and infatuation/fear of Amazon)
Our proserv practice and similar entrants in technology are taking some marketshare but similar to SAP or Oracle create an ecosystem. I do expect consulting to continue to get more crowded especially given the challenges of the pandemic and companies looking to expand their portfolio, but especially after covid, its what I can’t see coming and having so much equity tied up in the partnership that would give me pause.
We also seem headed for another major accounting scandal given what we see with WireCard then the likes of WeWork, Theranos and the lack of due diligence right now.
Average partner comp at EY and KPMG is maybe 825 to 850k. Anything above is increasingly rarified air.
Deloitte is similar.
ACN depends a lot on your RSU grants at promotion or if you were recruited in. I moved in the past six months and the two grants were above 1M.
PwC probably pays the best, on average, of all firms.
How many tears to average, 5/10?
ACN and IBM are publicly traded companies using shareholders’ capital. That has to be returned to the shareholders and comes out of the partners’ pockets.
Subject Expert
This. The margin to pay shareholders comes out of what could otherwise have been paid to partners.
IBM/ACN are not advisors, they are vendors. Very big difference.
Which is true, IBM 1
Lol A2. ‘Post you don’t understand B4 income without saying I don’t understand B4 income’.
You should just post the average partner incomes for 2021 if you are so well informed. Everyone will know you are the master, because each B4 P knows the average for their firm.
Go for it. 22, 21, 20. Any year.
Coach
Why don’t you start, P2? We know DIPP for K in FY ‘21 is north of $975k. What’s yours?
Partnership has levels. An MD can be making more than a new B4 partner, especially considering the buy-in and compensation structure.
1.2M is for established partners, generally 5+ years in depending on firm. MD also has bands as you move up the ranks.
Also - consulting partners/principals at B4 on average make less than the firm average and more in-line w ACN/IBM
Coach
As have I and I also concur. The mere fact that the average age of a first year partner is so much lower is a sniff test.
Accenture MD salaries seem to fall in an enormous range. Each year, they poach an early partner or two and I’ve never heard of anyone’s TC going down (so, ahem, >$500k).
There are a good number of partners here including me who make 7 figures including base , bonus and RSU/PSU . It depends on the role and band . However , vast majority of the early tenure partners are in the 500-600 range
Same for B4
This number is both over and understated. Last years averages were crazy high skewing the cash income up, so you can drop that number 10-20% depending on which Firm. This number also doesn’t include interest income on required and optional capital, which can be very significant, and pension benefits which are much more generous in B4. In short the wealth creation opportunity and net worth at retirement is a multiple for B4 vs ACN/IBM.
So yes, there is a large difference between the averages, and an even larger difference at the higher levels.
What is the take home cash on the $1.2 m?
Must be hard - I mean the Aston and Range Rover alone cost an arm and a leg! 😉
Your numbers for ACN are just not accurate. Can’t speak to kpmg.
Coach
How many of those are there?
Coach
I don’t agree with those averages, A2. But we’ll see soon enough.
P4 - K was lower out of FY20, but numbers are in this morning and new target comp comes in November.
I have no real Lens to EY outside or what a few friends share.
Deloitte, I have heard over and over is a huge bimodal distribution. New partners struggle to get to 850. Those who made it in early 2010s or earlier are well above 1M. Has created a large have/have not dynamic.
Remember, last year was an outlier with high revenue and low cost bases. Next year will be closer to the overall trend line.
A2 what you heard is patently false. Not going to explain the mechanics here but that would be simply impossible mathematically. Back to the original question, B4 partners do way better than Ac and IBM both initially and over time. D & P do materially better than E & K.
P2 - I am not sure why this has become a “jihad” of sorts for you, but I was a former B4 partner who is now an SMD at ACN.
I know the numbers directly.
Your overall point is correct with PwC doing better than D due to the very profitable Audit and Deals business.