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Do we get dividends over vested RSUs?
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No equity program for MDs at PwC.
When we make partner, we are granted an initial set of units that we have to buy. Based on performance, you get granted additional units each year that you have also buy. Your comp is the number of units times the firm’s unit value. We also get paid a return on our invested capital (prime plus 1). When we retire or leave, you get your capital returned you. In our case, we also have a deferred tax liability that grows over the course of your career that will have to paid when you leave. That will reduce your capital payback. It’s a little more complicated than that but is the general gist.
Deloitte’s partner pension is the mechanism for capturing equity upside over one’s career. Your capital in the firm is like a bond - you put it in, get paid interest every quarter, and then get it back when you leave.