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How do i see my utilization?
I am WAY TOO nice to be in public accounting….
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How do i see my utilization?
I am WAY TOO nice to be in public accounting….
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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.
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.
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.