Currently a high performing partner at a big 4. Own revenue c. $6m p.a., all self originated, plus $20m+ p.a. in on sell. Current comp is underwhelming, and two other big 4s are offering c. 80% premiums to move. I turn 45 this year and have no concerns about being successful if I move. Any reason why I shouldn’t go?

You’re going to hear more feedback rooted in scarcity and fear. Most people don’t jump because they are afraid to fail. You have to make a choice…do you want to run on auto pilot or go try something new? What if it’s amazing? If it doesn’t work, you have a marketable skill (if you’re successful as is and commanding an 80% premium) to go somewhere else. Firms are ALWAYS recruiting and competing for strong talent.

80% is meaningful. For me, that would be enough to compensate for the switching cost and the short term setback of having to rebuild your entire network and brand.

Do a team move. Some Partners or at least your pyramid. Lateralled twice successfully because my pyramid moved with me. Make them successful in the process and you got yourself lifelong friends and colleagues. Good luck

Asking for a compensation adjustment or in ur case a correction as you deem fair for what you are bringing to the table. Do not use ur current offer to negotiate. Their response will tell you what they really think of the value you add and will help you decide where you should be

You should move. Take 10 partners with you. Become legend.

What service line? You sound like a good candidate for A&M. Numbers would be a lot higher than an 80% premium.

No reason unless you want to be very risk averse.

I’d jump just to try it out. But I’m a risk taker. I’m also 45 and have young children with a supportive FT working spouse.

All I can say is that I have seen a number of partners join my firm, and all of them seem to have very, very slow ramp ups and I’d even say that none of them seem to ever achieve the numbers they had before. I think clients know that the partner is a face, and the real work is done by the people around them.

Did you make partner at EY, how long have you been a partner and have you seen good EPRS progression since then?

Yes, I am in the same boat, and am in the process of transitioning. Even if you go alone, and build your team over time, I’d give it a go. One life to live and what’s the worst that can happen?

Have seen a few jump for like premiums on current premiums. One has already left jumped to firm for industry; another is seeking reentry back to my firm.

I’d be more skeptical of my ability to take revenue to next firm if I were you. Especially if you won’t be bringing your team. That revenue you’ve built must be highly levered to your teams executing. Teams like that don’t get built in months. Takes years.

Most of the direct admit advisory partners that I have observed over the years in big four have failed. They often overestimate how much origination they are really doing without a team or other support infrastructure. That includes things like having MSAs in place and having teams that know how to do the work that they do. And, many also don’t think through the impact of independence restrictions on their current clients.

That said, if you can get a guaranteed 80% increase and will not be at risk of getting cut in a year or two if things don’t go smoothly it’s a tough deal to turn down.

It’s about comp and culture.
Some firms pay you for what you deliver. Some firms pay for most of what you deliver but give a 10-20% adjustment for teaming. Others are more socialistic. Key is where do you fit.

Why dont you ask ur employer to match first? Or are you also looking for a change of scenery?

Others will note the difficulty in switching firms. All I say is, if you think you’re worth it, controlling for those transition considerations, you should do it. These businesses would not hesitate to cut you loose in a heartbeat

Worked at big 4 and MBB here. If you go MBB, expect between 1.5 and 3M income per year. Most are at 2-ish mark. With that said, I recently turned down a 3M annual guaranteed fixed payout at a Big 4 so what that tells me is there has to be people in Big 4 making as much as good performers in MBB. Some of my old colleagues at Big 4 though tell me they still hover at the 1M mark even after 5+ years as a partner. Hope that helps.

Enough foreplay… what is your comp?