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Rising Star
Partners have equity and a higher comp upside. MDs are nominally easier to fire, but that’s mostly because they don’t need to be bought out. EY has shown little hesitation in letting go of Partners who aren’t hitting their numbers since at least 2018-19, and Everest demonstrated that the firm’s leaders think of line Partners as little more than employees.
Pro
Partners are owners of equity it is the top rank. Managing directors are employees and it is the second highest rank. Both are considered executives and can sign binding contracts on behalf of the LLP. Comp is completely different as partners are K-1 and MDs are W-2. Generally speaking on average the comp trajectories for partners are much higher.
Equity vs no equity is probably the biggest difference, MDs cant sign sows, MDs are easier to fire because MDs are employees
So what would be the range of base for MDs vs Partners?