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Coach
Damn. This post is making me appreciate PwC even more than I did!
Actually looking at my K-1 summary for this year my second year number is closer to 700k but my cash flow was not that high. Beauty of being a partner I guess, I have no idea what I’m actually making but making enough that I am not too stressed about it….
A few things to consider:
- compensation trajectory. Some firms promote earlier to partner too with a decent comp ramp-up over 4-5 years
- chances of getting counseled out due to unrealistic sales goals
- line of service and where you fit into potential future leadership roles or positions
Author, it is hard to conclude you are underpaid based on the responses. There are compensation differences based on internal vs. direct admit partners and consideration has to be given to your level of responsibility as well as the size of your book. Only after assessing these factors can you conclude if your are underpaid.
Agree with this books are all over the place and also responsibilities. Partner comp is the largest spread of all levels. My book is twice the size of of some 10+ partners and I probably make 40% less than them - however I also am seeing 40+% bumps each year.
Coach
I’m a second year partner in B4 at 725,000.
What is the partner comp at non-B4? What about RSM? CLA? BDO?
Year 4. tax. T15 firm. Equity partner. HCOL. 700k+ with capital/equity appreciation.
Year 4 Audit Big 4 $420k
How does this match up to PWC 1st year $600K….hard to get motivated
Year 4. $680k. Big 4. Guess I’m underpaid.
Ok… looks like I’m really underpaid. thanks for the insight.
Lol well you're not alone. I'm 4th year, about the same comp, top ~12 firm.
4th year tax at large regional - $1.2M. Really surprised by all the low Big 4 comp numbers. Always heard big 4 partners were minimum of $1m.
Tax Partner 1 … which firm, and can I join?
Year 3 -400k
Year 5 Audit HCOL, will be ~$730k.
Question for OP. If you had 50-60 k increases every year and now you are at 365k. What was your starting draw? That seems you made less than 180k as partner.
Year 6 Big 4 tax. 600k.
P1 - not the right one for best comp apparently! 😀
Any 5+ year partners here in leadership roles at B4 or non-B4, and is your comp less than revenue-producing partners?