{ "media_type": "text", "post_content": "Partner question: is it true that your first year as a partner you take a pay cut because of you buy in? Someone told me that first year partners make a low compensation amount their first year cont..", "post_id": "5d39fc22e6e8460030208664", "reply_count": 20, "vote_count": 3, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }

Partner question: is it true that your first year as a partner you take a pay cut because of you buy in? Someone told me that first year partners make a low compensation amount their first year cont..

like
Posting as :
works at
You are currently posting as works at

I am exactly break even year 1

like

There is a lot of confusion. A new partner ALWAYS has a comp increase vs their prior year as a sr manager director. People on this thread are referring to cash flow. And the cash flow situation is different in different firms and for different people. There are several references in this thread to cash outflow for capital buy in. A few comments. First, this becomes savings for the partner. In many cases this investment earns interest. It is then paid back at retirement. This is simply redirecting cash and alters disposable income. Second, some people need loans and other dont. This is a personal cash issue partner by partner. The need to borrow money isnt about comp. Its about cash flow. The bottom line, all new partners. earn more money (and if anyone nets less after self employment tax and self funded medical insurance, then its an anomoly or their firm made a comp error with new partner comp).

like

A lot of times it is the same cash flow, or a little less, then senior manager for the first few years, even though comp rises on paper. This is because of the buy in, becoming taxable in every state the firm practices, losing 125 plans, becoming taxable on medical insurance, etc.

like

Remember that none of us are complaining here. We are answering questions that are being asked by people who have not yet joined the ranks, and are looking for information

like

And even take a huge pay cut that could be compared to a manager 1 salary. Is this true or Nah? - heard it around my office at EY

you take a loan

Related Posts

Hi everyone.. I have a question about salary expectations- I would love your insight! I’m an EA with 6+ yrs experience, most of my experience is from working at companies located in the Bay Area (California). I’m currently an EA to CEO at a small but very successful start up based out of the Bay Area, most of the founders were previous execs at Deloitte. There’s a lot I love about my job but I can’t help but feel I’m underpaid. I make $63k. Im the only EA there and no other admin.. thank you!

like

I am a Finance Professional with 1.5 Yrs Exp and Getting an Opportunity for a FP&A Analyst role for the first time. What is the minimum compensation one should aim for, providing the large amount of responsibilities one will handle and to start in this role i will have to transit from a Well Known MNC to a intermediary Startup although in a good growing stage?

like

Partners. If your law firm is paying 60k below market in the wild corporate environment we are in, what would you do and say to the comp committee come those Q4 discussions, I am a junior associate and have not really proved a whole lot but I do want to leverage the market if I can. Thank you all so much.

like

Out of curiosity, why does everyone on here seem to want to work at a V10? Aside from Wachtell and Kirkland, they pay the same as a ton of other V100 firms. I just don’t get the allure (prob more hours?). My colleague just left the firm I’m at (market paying firm that potentially pays above market bonuses) to go to a V10, and his response to why he’s leaving was “it’s a V10.” FWIW, I’m at a V20. He’s not in a practice that would get him a big bo us either. Just curious why people are obsessed.

like

Salary since college in Project Management 2016 Technical Support Specialist 37.5k 2018 Project Manager 46.5k 2019 Project Manager 57.5k 2020 Project Manager 60.5k 2021 Engagement Manager 120k (new job) 2021 Engagement Manager 132k 2022 Engagement Manager 160k (new job) 🥳🙌🏾

likeuplifting

Let's do a salary thread for Account Management pros: Post your - Salary - Title - Years of experience. Fishbowl will circulate the data once we've reached 100 responses, so make sure to share with your coworkers.

like

How much should you expect your salary to increase yearly as a fund accountant compared to a public accountant?

like

What should be the compensation for a Principle Consultant role (YOE - 9.5) in Informatica Corp. in India? Please help with what should be the minimum Base Pay and Performance Bonus?

Hey All, Will be joining EY GDS soon. There's a component "Advanced Statutory Bonus" in my CTC. Any idea what this is? Thanks!

like

Anybody wanting a pivot away from advertising? I’ve been in media buying for 3 years and although I’m really good at it and make a pretty high salary I just can’t see myself doing advertising for my whole life.. I feel that it is a arbitrary industry in some senses and that I should be using my skills/time to more important causes.

like

Just started as an analyst in fdd. Whats the average salary increase rate YoY at a non public accounting firms?

likehelpful

Once again I must thank KPMG for allowing me the privilege to qualify for the third stimulus.

likefunnyupliftingsmarthelpful

Accenture Riga salary band for senior software engineer and team lead

like

Having a tough time balancing staying at pre-IPO late-stage startup for 4 years for share vesting vs applying to new jobs to move up in title/salary/responsibilities. Base is low compared to what I could be making but major upside post-IPO on what my shares will be worth. Was anyone else in a similar position early in their career and have any thoughts?

like

What was Deloitte Severance bonus for layoffs? Is it negotiable? If so - by how many weeks?

like

CD salary in LA? I have awards, 10 years of experience dealing with clients.

like

I don't know about other Big 4's. But, - EY saved on earned leaves by directing no carry over - EY saved on virtual counselling sessions, virtual new promotions program and other virtual events - EY saved in electricity, water and other office consumable services - EY earned extra from Salary cuts - EY supplied zero WFH essentials - EY garnered extra profits and broke last year records So where the hell are the employee monetary profits? Feels like EY is mimicking PM cares fund. #PeanutBonus

likefunny

Thinking of moving from NYC to Florida Office, does anyone have experience with this/will salary be adjusted down for lower cost of living?

like

Are there women here that have a significantly larger income than their male partner/ spouse? My husband used to make a little more money 10 years ago when we first met (when we were both making under 60k). Then I started climbing a fast track career ladder and now make a total comp of close to 300k and he is still under 80k... (which is totally fine with me btw). But I have noticed that this has caused a lot of serious issues for our relationship. any advice?

like

Additional Posts

like

Product tip: upgraded my 2011 car with a CarPlay enabled car radio

I know y’all are headed to some pretty fancy schools. But I got accepted in to Emory’s Executive Program! As a 40-something working mom, I’m terrified- this is the biggest thing I’ve done for just for me - but also super pumped. And I wanted to humblebrag and share for the other fishes who are exploring this idea. Wish me luck!

likeuplifting

Having a tough time balancing staying at pre-IPO late-stage startup for 4 years for share vesting vs applying to new jobs to move up in title/salary/responsibilities. Base is low compared to what I could be making but major upside post-IPO on what my shares will be worth. Was anyone else in a similar position early in their career and have any thoughts?

like

Anyone in a condo need to get walls in insurance? Please explain this to me, thanks so much. First time buyer here

Can anyone help me by referring to SAP Basis domain with 2 YOE in Walmart. Please let me know the prerequisites.

Those who read of Mayfield, KY, via Instagram there is a thought experiment being done where longform.org will be given a send-off as Roxanne Aalders will be working with Blurb via blurb.com/bookstore/c-blogs where examining where science and social studies education is often scarce. I have been a vendor with Barnes & Noble now off-n-on going on 11 years one of the places I do graphic design work with ended up getting Smashwords so those who are wanting to test the idea of being #published in print..

Post Photo

What are your writing pet peeves BESIDES the Oxford comma?

like

Hey folks, introducing myself as a new bowl leader 👋🏿👋🏿. I'm a copywriter over at Forsman in NYC and I'm currently based in LA. Excited to be part of the community. 🙏🏿🖤 Don't hesitate to reach out if you have questions, suggestions or just wanna talk. Thanks!

likeuplifting

Ya’ll I just got done reading in another bowl about how much money people have saved at age 25... $96k, $2.5m, $375k, investments etc. Meanwhile I’m sitting here like, where my next meal coming from 🤦🏽‍♀️? Why black parents put they kids out at such a young age? I’m traumatized y’all 😭😭. I need to build wealth and leave my kids something. Just now at age 34, I’m learning about money and all the things they talked about. 😣 I feel so ashamed and unprepared for life.

like

How much did you make your first year as a recruiter?

like

Please like my post to enable DM. Need 11 likes I read somewhere. Thanks in advance

like
like

I’m so miserable every day is painful. I want to go tell pre-law school me it’s not worth the debt because you will hate this career and then feel trapped by the debt. And then I want to come back to present day, quit this life-leeching, soul-sucking job and start over doing something else entirely. Too much? Oh well. Thank you for coming to my TED talk.

like

If you know, you know

Post Photo
likehelpful

Any of y’all do HiTrust? What’s your experience been like? Just got pulled into helping out an engagement.

like

Anyone have deets on Oberland in NYC?

like

Have you ever known of an intern who didn't get a full time offer? Why didn't they? I always see more interns who don't deserve offers but everyone almost always gets one

like

What was Deloitte Severance bonus for layoffs? Is it negotiable? If so - by how many weeks?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal