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600k is not close to new partner average for any firm
In addition, a smaller % of partners retires from the firm in the year of their choice, or on the mandatory retirement date. Circumstances change of course, but barring multiple divorces, or horrific spending habits, most partners won't be poor if forced out at 53-58.
This "all new partners make a minimum of $600,000" at your firm is very much like
"leprichauns and unicorns are real". Do you have
Access to such info? No leader of a large firm is here on fishbowl making these statements.
Deal advisory. But should not be way off from other bu. The bump from md to partner is good. Get the partner title and comp, and of you are not happy you can easily move on. But again the first 5 years are great increases.
If you perform, compensation will be good at most places. Factor in the buy-in portion as well as it varies. More important to see where you are happy and will be successful. After a certain point 50k difference in comp won’t matter that much.
It’s just not the capital requirement, look at how quickly it’s distributed. A lot of variables but when capital is anywhere from $200-$500k it can be a big difference.
My first year partner at big 4, 5 years ago, was at that level. So I would stay. Comp increase in first 5 years are great!
Md to partner
Stay with Big 4. You know the people, you have a network and a bit of a safety net. Also your future earnings will be better if you perform. Lots of turnover at partner level at non big 4.
Look at the pension and whether you will be there to collect. Certain firms have better partner protections than others to maximize your pension.
Yeah the price of losing the network, non compete/clients etc will hurt you in the first few years else where. They may even give a teaser starting comp to dampen you next for a while. When I made partner in 17 I had the same number from your offer in advisory. And fast growth ever since.
What BU and service line? $475k sounds solid for a new partner
Accounting Consulting..
New partner at a certain big 4 is 600+
If you have spent all your life at a big 4 so far, then it may be difficult for you to adjust to a non-big 4. Good luck whatever you decide. $475K is low.
I think what K3 means is that 475K is not enough to lose out on your big4 network, career and future earnings potential
Is it the same buy in for an internal promotion as for a direct admit?
Don’t know the answer to that, but if it helps buy in for the offer was $150K..