I have had this detailed discussion with the partners in our practice, and those numbers are in the range for year 1. Obviously it is highly dependent on firm annual performance, but it will be a good baseline to use for planning.
New equity partners maybe. Canada big 4 have the income partner model. Meaning you’re on salary for a few years until you hit equity. Then your total comp likely approximates the range you mentioned. Probably a bit lower
Think there are big differences in approach to comp. I’m told PWC has a cohort model with tight banding and the above is a very frequently quoted for them. For us, depending on where you’re coming in off MD (both in practice and in last MD year comp), much much wider range. Don’t remember EY, which has changed since I was there long ago, nor Deloitte which I would assume is also a really wide range. Thus the futility of using averages to compare.
There is. Heck I didn’t end up picking pwc in Canada because they couldn’t even match my base based on their tiers (the role was first year partner and I’m not)
That numbers not surprising based on what I’ve seen but I’ve heard of some that make less based on units/value and the loan to get them. That’s just anecdotal though so really bad data quality and I’m not a P.
Not true in Canada for sure.
I have had this detailed discussion with the partners in our practice, and those numbers are in the range for year 1. Obviously it is highly dependent on firm annual performance, but it will be a good baseline to use for planning.
🥕
New equity partners maybe. Canada big 4 have the income partner model. Meaning you’re on salary for a few years until you hit equity. Then your total comp likely approximates the range you mentioned. Probably a bit lower
Seems very similar to AU. I presume it should be similar in Europe.
So it's only the US firm is an outlier! (Maybe UK too)
Coach
Think there are big differences in approach to comp. I’m told PWC has a cohort model with tight banding and the above is a very frequently quoted for them. For us, depending on where you’re coming in off MD (both in practice and in last MD year comp), much much wider range. Don’t remember EY, which has changed since I was there long ago, nor Deloitte which I would assume is also a really wide range. Thus the futility of using averages to compare.
There is. Heck I didn’t end up picking pwc in Canada because they couldn’t even match my base based on their tiers (the role was first year partner and I’m not)
That numbers not surprising based on what I’ve seen but I’ve heard of some that make less based on units/value and the loan to get them. That’s just anecdotal though so really bad data quality and I’m not a P.
This is very helpful. Thanks all.
Is it 550-600 base or net (incl bonus)?
Net
This comp is similar to mid level management in a tech firm
Not even close. Mid level managers in a tech firm are closer to $150k-$200K.