We all know PE firms first objective is to cut costs for a quick turn, so no doubt the number of people becoming “partner” will be minimized to maximize margin.

Senior managers+ looking to become partner in public accounting firms that have a PE investment, what’s your plan?

Stick around and hope to eventually make it?

Jump to a smaller firm who will make you partner now so you have equity at the first PE investment?

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

Our small firm was acquired by another firm which is PE backed. Existing partners dangled the partner carrot long enough to keep us on board and eventually sold with no warning. If you plan to go to a small firm, go to a firm with young partners and negotiate to come in as a parter right off the bat if you can. Otherwise, you’ll just waste your time.

like

I disagree with you on the Partners piece, most of the accounting firms with PE investors have too much debt at the moment and will need capital in a couple of years as such I think they will make more partners who will supply the capital through partnership buyins rather than the PE firms putting in more capital. The question is it a good idea to become a partner in the firm with the amount of debt the firm has.

like

Agree with Audit SM 1, I just join a small firm as a tax “partner”, at partner level with partner pay, but no equity. Still w2.

I don’t think the outcome is less partners, but that partners in a post PE transaction are going to make less. Those who have equity at the time of a PE buy in are going to get a bunch of money at the expense of future earnings. Good for them…not for future generations of partners.

It makes sense for firms who have outsized retirement obligations they can’t meet or don’t have the debt capacity to invest.

like

Related Posts

Anyone from Nationwide? I’d like to hear feedback from current and old employees about the work environment, salary (G3), development, diversity etc. I completed an interview for Claims Manager position.

like

I’m in my 2nd year in audit. I want to pivot into management consulting within a big 4 or MBB. Has anyone seen someone make this lateral movement? I’m not sure how feasible that is and what steps to take. I’m also down to discuss further with whoever is comfortable in connecting.

like
like

LinkedIn is going full boomer-Facebook complete with pictures of a computer screen rather than a screenshot or “share” 😐 comments were fun too.

Post Photo
funnylikeupliftingsmart

Should I invest in Tesla or Apple? Looking at least 1+ yr to hold

like

Anyone joined top social clubs (i.e. Zero Bond, Norwood, Metropolitan)? Why were you accepted in & did it meet your expectations?

like

Anyone looking for a referral on a construction assistant superintendent role?

like

I have recently joined EY.
@can someone help me how to fill time sheet
And how to connect to EYRC Accenture EY

like

Does anyone have any insight on picking up a J2 while working for the US Federal Government? Does holding a high security clearance play a role in maintaining a J1&2; as in, will periodic clearance checks for J1 hit on J2?

like

My LWD is 9 nov

My supervisor has been including me in WFO roster since August, but neither did I go to office nor I cancelled the roster.
I didn't received call from the supervisor or the HR also to come to office.

Now as my LWD is near so will this create any problem in FNF ?

funny
like

Sad that I missed out on this deal 😭 brand new & tax free

Post Photo
like

What's expected CTC for lateral hire in PWC AC for a guidewire business analyst? Yoe is 7.. 5 for BA, 2 for other.

Thanks in advance!

like

Does anyone have Skype for Business installed on their personal device to receive notifications?

like

Regarding purchasing coins is it better to swap BTC/Coin or BTC-> USDT ->Coin

like

When law firms lay you off, do they always give the standard 3 months salary and 3 months on the website? I’m looking at very likely being let go I think and I’m trying to plan ahead.

like

How's FDD market in Philly? Is it much smaller than Dallas and LA? Want to know especially EY's presence on the market.

like

Salary vs rent poll: Salary / Monthly Rent / Living Situation (roommates, apt type, borough?)

like

I have applied for Associat Product Consultant at Cvent . Can anyone help me out with interview process and starting salary they offer? I have left my previous job like 2 months back. Desperately looking for a change.

likesmart

Additional Posts in Accounting

Thinking joining Deloitte New Jersey office… any thoughts/reviews from anyone that works there on culture/people/workload/etc?? Deloitte

like

Shot in the dark- has anyone obtained their CFF? How did you study?

like

Is it possible to transfer from Risk Assurance to Tax as a senior and keep your title? I have my CPA and one year exp in audit and tax

like

I feel like I've been listening to Lookin Exotic all day today....such a good jam

like

How do i see my utilization?

like

Advice for someone having to audit in an arm sling the next three weeks?

like

When is the best time to leave and go to another big4? I am at PwC and I knew the reputation they had and Some people said It may not be for me because of it. Ive been here a year and I feel as there right. My busy season is starting and I want to leave (not just because of my team) but as some of you may know getting along with the people you work with is a big part of wanting to stay at your job. I want to try to quit end of December and hoping to start a new position February.

like

I am WAY TOO nice to be in public accounting….

likefunnyhelpful

If I’m getting dragged heavily for my performance and am completely overloaded with work, is it best to start looking for another job? I suspect I might get PIP’d this summer unless our abysmal staffing issues prevent that.

like

Boomerangs, did you guys come back to a different firm and/or group after your industry detour? How hard was it?

like

Constantly bugging partner to sign off my CPA experience... what's the point of incentivizing the license to get promoted if I have to keep nagging you to sign off

like

One of my senior managers is a boomerang and told me she was laid off when she was 7 months pregnant about 10 years ago. I think she was a senior or manager. She was in a specific group and everybody was laid off. It wasn’t performance based.

Would you work at your company again if you were laid off?

like

How prevalent it is that folks have anxiety depression at big4 nowadays.

like

How do you know if you’re considered a value employee?

likefunny

Anyone from EY-Parthenon, what does a typical senior consultant look like resume/experience wise? If I have audit and FDD experience as a Senior for 3 years (currently in FDD), a CPA, no MBA, is that enough to get in to EY-P? Or is the MBA basically required? What would I be missing? Thanks!

like

Nervous to make industry jump bc I’m not an excel wiz. Obviously depends on the role but curious if anyone else in a similar situation?

like

What level do I need to be before I can block off time in my calendar to watch the Champions League with impunity?

like

Can you get fired for having low utilization as a senior? My billable hours this busy season have been much lower than my peers.

like

Anyone have their CCIFP certification? If so, how difficult and time consuming is the process of getting certified?

like

Does anyone else feel like their anxiety levels are high? I feel like I have so much work but I just want to have a chill summer and relax before things pick up again in the fall. But it’s causing me anxiety knowing that I have so much to do.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
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

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal