Up for partner this year at EY. Is it true I should expect net pay cut or neutral for the first two years?

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True story, buddy; you’ll most likely be net neutral.

Our distributions are made after the fiscal year end, in October. During the year, we withdraw estimated earnings from the firm and then they net it out in October.

So the first year you make it, you don’t have the prior year, so you’re given a number that’s basically keeps you cash flow neutral. On paper you will make more but it’s because of taxes. Next year is fixed raise, which I believe is 5%. Then October 2021 is when you get your first real raise. Now the nice thing is new partners have a ramp-up program to catch you up, so 2021 and the next 3-5 years should be pretty good, and then after that you go through the normal process and it’s all about how the firm does and your performance.

They will walk you through all of that if you make it. Good luck!

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P2, thanks a lot for your response. Can you please elaborate on how big4 partner remuneration is structured?

Depends on your comp at Senior Manager. The firm keeps you on a “guaranteed” income versus distribution your first year.

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You would definitely get an increase from that, but the real money comes at 5+ years

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Your expenses will go up for benefits though. No more subsidies from the firm. Btw, good luck in the process and I know how lonely this time can be till you get the call in mid May

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OP - Are you in a specialty group? What LOS? I am very surprised and happy to see that high ranked SM are making 290 base.

Don’t want to say specifics as it may give away some anonymity but it’s within advisory / high growth area

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