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1st 5-10 years of partner is an investment. You make the big bucks after year 10. Not worth the stress of partner if you are above 45 if you have to retire at 60. MD has no retirement age and you can work till 70. I am speaking from what I know of KPMG, EY and PwC
At GT, if you are not a CPA, you earn the title of principal instead of partner. Of course comp is different - partners are not salaried, they get paid based on units they are responsible for (people). MDs are salaried. Workload is also different, MDs have higher utilization. Partners are tiered so you need to do more in order to move up the partner ladder. Sales, ability to sell the business, executive presence, etc, really are deciding factors.
Partners in Big 4 have to be CPAs - MDs not necessarily
Partners need to have CPAs, correct. Principals which also own equity in the firm, do not need a CPA. MDs can have either. Big 4 Partners are the only ones allowed to sign PCAOB statements and give final sign offs on financial statements
Sales goals and age
Age in what way?