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Thank you for the insights. Guess it confirms my view that there is no point leaving an equity partner role for a non-equity role.
An MD at EY has a TC between $500K ~ $800K depending on the year and seniority.
I don’t regret coming as a Direct Admit Partner but get ready for the hunger games!
MD is an employee… I understand outside the US, other Deloitte Member firms treat MDs as partner equivalent from a leadership standpoint.
Inside the US MDs are partner equivalent, pay is different structure but equal, but you are an employee not an equity partner.
Same authorities and opportunities with the exception of about 5 jobs
It depends if you are within certain age, and no runway most likely you will get offer as MD. Many direct admit (senior) will earn $1M+ and with our pension it could be worth it but it depends on where you are in your career stage.
Not very common but it happens. Especially for late career direct admits.
MD is, in essence, a non equity partner. It’s technically at the same level in the corporate hierarchy and most roles (e.g. account leadership; people leadership) are open to both Principals and MDs. At the highest echelons of roles (e.g. industry/sector leadership) you will see only Principals, generally. The starting compensation for Ps and MDs starts around the same, but it tends to start separating significantly from Y3 onwards. I’ve seen a fair bit of conversion from MD->P if you prove yourself in the market.
This . Non equity P (and actually called that in some countries)
I find the channel 1/2 thing the biggest hurdle when coming from non big4 consulting firm
You can’t have clients on the advisory side that are also audit clients.
I used to be at one of the big 4 and while building relationship with an account for a few weeks/months they became an audit client (completely different stakeholder) so we had to stop the pursuit.
MD is an employee Principle and Partner are equity positions. Pay structure is different but basically equal, we don’t treat them as different levels, there are about 5 jobs you can’t hold as an MD though