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$210/hr on 1099 in NE? 12 YOE... Take or stay?
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Nope, partners’ salaries are typically tied to profit margins (and not just pure revenue). With that being said, you can probably imagine how much higher the margins are at MBB vs. big 4 consulting (excluding S&, EYP), much less audit and tax
Here’s the ROM for one of the big 4:
- you buy into the partnership on a firm-funded low, interest loan for $450k giving you 450 shares (@1k par value)
- assuming a normal year, you make >$450k year one (target is ~110-130% of pat value)
- you accrue units based on performance; average partners make ~$1m by year eight
- your pension is a percentage of your highest earning years (capped)
You can look up the most senior partners’s salaries online and back into what is normal for senior partners. MBB comp is definitely higher.
Very close for EY, except the pension part isn’t accurate any more. That was phased out years ago.
How is annual and longer term term performance eavaluated at the B4? Is there a process to differentiate partner pay in a transparent manner?