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Move dilemma:
Currently @ Arthur D. Little Limited Dubai as SE Manager w/ base comp of 285k $ + 10-15% bonus. Vert limited fit w/ people & projects in the region (MEI) & not motivated by seniors. Not happy w/ the job but good WLB. Very likely to promote to Pr which would include a 20-30% jump in total comp but shift to more variable
Move to MBB as PL. Projects & people are supposed to be great and he could see himself in the long run. Comp is 170k $ + 60% bonus. Will take 1.5y to move to Pr
bonus letter received?
Pinnacle Home Care is hiring home health RN's and LPN's for the Pinellas County area in Florida. We are offering a $20,000 sign-on bonus to RN's and $2,500 sign-on bonus for LPN's! Please reach out to me at jgranese@pinnaclehomecare.net for more details, answer any questions, etc...
Look forward to talking to you :)
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I would definitely not expect it to be a 1:1 assessment based just on the numbers. I am at a big firm, but I would expect it to be the same anywhere - there is a lot more that goes into being an owner of the firm than just your current collections. And collections change year to year. I’d expect they will look at your performance over a number of years, as well as the intangible investment time/efforts of all of the equity partners.
My experience is that it would typically be take it or leave it. If you think you can continue the practice for long term, then definitely take it!
At bigger firms, it will be take it or leave it. I don’t know how small your firm is, so maybe there is room for negotiation. But, just remember, whatever more equity you could get, means someone else has to get less equity than they have now - and in a small firm, all equity partners likely have a vote in that. Also, equity is only as valuable as the firm is profitable. If the firm is super profitable, it’s worth a lot. If the firm barely makes budget, equity status can be more risky than beneficial. And if there is another pandemic or other crisis, equity partners are the ones that will take the hit. So, I would be asking more about the firm’s history of profitability/overage for the past few years and what they are expecting this year and also assume that if you are coming in sort of middle of the pack, you probably won’t have much say/negotiation power.
Thanks so much for this response. Super helpful. Certainly understand that my vote won’t mean much out of the gate. Will probably start to learn more about the arrangement in the next few months.. and will be particularly interested to confirm whether votes re equity elevation require unanimity.
In light of your comments, I also can’t help but think that it might be worth starting my own firm.. or at least considering how that would work. I’m basically already siloed and completely self reliant. Business is fully portable. I’d bill less, make quite a bit more $ and de-risk exposure for ‘down’ years at the firm (I believe that my clients have a strong pipeline of continued work).