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2 years MD (total comp final year = $400k). Partner year 1 was $550k gross (ended up slightly better net than MD).
And now back to an employee post PE deal with net cash similar to partner but true equity appreciation and performance bonus that should be meaningful.
Mentor
You’re either an equity holder or not. Don’t buy into the fairy tales or the “2-5 year” conversion promises. Focus on building the book and that’s all that matters. Rest falls into place.
This isn’t about a fairy tale. I’m looking for specific feedback on the mechanics of the conversion and how it worked.
Comp was ok. They adjusted so I didn't lose out anything because of how insurance and other things change as a P. Can't say I am materially richer though. It depends on unit values
Yes, and comp is not dramatically different in total but it is in structure.
Comp isn’t the reason to consider one path over
The other
It’s real and it’s fantastic
Every P at Deloitte becomes insanely rich
I did. Deloitte.
Isn’t everyone MD to P, i mean most?
No they are completely separate career tracks at Deloitte. Not one to the other you can go from SM to either
I know 2 at PWC who converted to P, so I assume doable with the right business case.
OP- did you get any additional insights for EY?
I’ve been told no pay cut, slightly better, and years at level commensurate with PP type performance.