Partner One

Is it worth it to grind out to become a B4 partner?what are the upside,e.g., 1m+ salary, pension component, etc. and what are the risks? Should you try to switch to PE or do entrepreneurship?

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No

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You get a pretty nice paycheck at MD, and then as Partner, more still, but it takes a while to get to $1MM unless you’re in Deal Advisory. If that’s what it’s about for you, you might want to reconsider it. The juice is in running your own franchise; whatever that is. I don’t think many spend a lot of mental time thinking about the money if they hit Partner at the right age (50+ or minus 2 at KPMG minimum). It’s about the freedom to do what you want and building a business with significant resources supporting you. Some people will take that at even 54 because there aren’t too many places where you can do that. The pension bit is what it is as long as it is, but there are lots of other savings opportunities that accumulate pretty quickly even net of the buy-in. But again, it isn’t about the money. It’s about how you want to be spending your time. But that comes with big time stress, maybe the biggest consideration. How much and how long do you want to deal with crazy stress?

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Yes

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You are not going to get to $1M for a few more years . So use that in your computation Also the way professional services work - I am no longer sure if pensions are going to be sustainable for more than next two decades at most

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P1-3, what firms?

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Maybe - only for KPMG!

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OP what level are you? New joiner?

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Director - probably 1-2 years from MD

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No

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Partner is a pretty lucrative and stable gig. It’s all about risk reward preference. Also, our firm has moved to a defined cash benefit plan for new partners (in addition to 401k). It’s slightly less than prior generations received but it’s also guaranteed...

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Which firm?

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It depends ...

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