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Why do Partners move from one Big4 to another?
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So, first, it’s not forced retirement, we agree to withdraw at a certain age.
Second, I think it’s good because it creates capacity for others to move into the partnership.
Also, it keeps us from having deadweight partners that hang on until the day they die sucking cash out of the firm. (Instead, the dead weight just does it until age 60!)
Finally, and perhaps most importantly, I think it gives us another milestone to aim for and a chance to go do something else in the last phase of or career.
I do think that the age should move out to 62 or 65 as we are all living longer. But, that’s another story...
I owned an independent boutique before I rejoined the top tier firm I’m now with. Have plans to re-ignite my previous brand at age 65 and work 3 days per week as a c level advisor to mid size firms in my industry which are not served by the big strategy houses.
I know that this model works
Getting “ off the road” as soon as possible, and definitely trying to figure out the “ next Chapter”. A constant diet of airports and airplanes gets more difficult as I get older... 51 years old and counting down....
I’m trying to retire before that age
Our retirement is at age 62... do you really want this lifestyle past that age?
I plan to go at 57 or 60 but I’m sure by the time I get there I’d like the choice to go longer. I’m not a line partner and I love (really LOVE) my client roles so I could easily go past 62 with this scenario
We don’t have such a thing. Work as long as you want
I plan to retire at 55
P2, is that because the work interests you vs a financial need to do so? If not financial, why not get on some Boards?
Can you retire before 60? I don’t see the benefit of working that long
At PwC, you can “retire” without a reduction in benefits at 55 assuming you’ve been a partner for at least 10 years.