Partners: anyone approaching retirement or close to it? Based on your pension/retirement scheme, how much gross $$ do you expect to get in Year 1 of your retirement from your pension plan?

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How does the pension work? I’ve heard 60% of avg of 3 best years. So assuming you hit $1M (average for a consulting partner), that would mean $600k pension every year until you die.

And then when you die, your spouse gets it until they die.

Is this true?

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It appears to be sustainable based on projections of future growth rates and actuarial predictions around how long people who are currently middle aged will live. Those projections are quite conservative. If something happens to drastically change either of those assumptions — if people suddenly start living to be 200, say — then no, it’s not sustainable. Otherwise it is.

As for the labor market, I don’t see any sort of fundamental change. Staff in this business have literally no concept of how overpaid they are even at entry level. Wages haven’t gone up meaningfully on a real dollars basis, and they won’t going forward. Paying a (very smart, hard working and capable) 23 year old kid with no actual experience more than the US median household income (low 60s, in case you were curious) in their very first job out of school is always going to attract good talent.

It depends on your firm and the specific plan you’re under. For me, it will be $400k a year until I die. It is a very nice benefit.

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Are you worth a Big 4 or one of the top 3? Or another?

Close enough. Probably a bit over $200k.

How many years with firm, and at MD level?

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