{ "media_type": "text", "post_content": "How does Partnership work? Do you really need to buy into it, if so how much is the buy in and what are the perks of getting admitted to the partnership? Asking for both, Big4 and/or MBB.", "post_id": "5d2ce593d9fe20001b180a15", "reply_count": 13, "vote_count": 3, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

How does Partnership work? Do you really need to buy into it, if so how much is the buy in and what are the perks of getting admitted to the partnership? Asking for both, Big4 and/or MBB.

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You’re buying in to the privilege of earning a percentage of profit and a stable pension. Spending $400k now to get close to that amount every year in retirement isn’t a bad buyin

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You have a 10 year vesting. So if you make partner early enough, you can retire at 55. Most people make partner around 40, latest age is by 50 because of mandatory retirement at 60

It’s not secret. Ask a partner you know to explain the basics to you, as every firm is different. When you’re elected “partner” you become eligible to buy an ownership stake in the business, which grants you various rights and obligations as set out it the partnership agreement. For example, you can vote for the chairman, you get 0.056883255% of the profits, and you are liable for certain things. It’s usually a pretty good deal, otherwise no one would do it!

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From what I’ve heard, yes you really need to buy in and I’ve heard it can range from 300k-500k amongst the big 4.

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Lol a partnership without having to buy-in wouldn’t be a partnership.

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Really? That’s interesting? So the firm gives you a loan to buy in or something. I wonder why

Yes I’ve heard they offer interest free loans you pay back in your early years as a partner

What’s the benefit of this unnecessary debt for someone who can’t afford it? Or even otherwise, why would you pump fluid assets into a partnership? I’ve heard once you enter the partnership, you basically start from the bottom with the senior partners making the shots on who gets how much funding per FY. I’m genuinely curious about the benefits, the whole partnership process is so shady, no one talks about how it works and I didn’t find any internal documentation either

Well you wouldn’t want your newly elected partners leaving immediately. Don’t know the buy in across firms, but if it’s about 18 months worth of salary or so seems like a fair risk reward, especially if they start at the bottom of the totem pole again.

I’d imagine MBB firm capital to be a worth while invest. Heard it could potentially fetch 20%+ returns

ATK is not a bad place to be a partner either

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