Why are we still using the partnership model? Made sense when it was a small group of professionals but most firms are too big now

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

The problem is that the alternative is going public. I’m not sure that is legally even allowed as an audit firm, and on the consulting side going public destroys the culture. Quarterly revenue is all that matters, cost control, etc. All public consulting firms quickly go heavy into outsourcing / managed services because of the predictable cash flows. I would never want to work for a public consulting firm.


Hey ouch


Totally agree. Too democratic to make the big decisions. We’re basically a group of independent individuals duplicating too much work.


I don’t think it works the way you think it works.

We are ultimately corporations with a few individuals in leadership positions. None of the B4 partnerships are open, ie I don’t know what my fellow partners bring to the firm. Yes, we vote on a few matters, but it is very few key decisions; the rest is decided by that small group we elect. So from an operational standpoint, it is very similar to a regular company. The only area that is true partnership is client service, where it makes the most sense because you need the flexibility and agility to respond.

And I agree with sentiments above on going public, no thank you.


I think your modern day partnership of the Big4s are different from when it started or smaller law firm partnerships

What model would you recommend? Public?

ESOP- just kidding works great for us but at the scale of a Big4 might not be as good a deal for employees.


Related Posts

Anyone work at Palo Alto Networks in sales? Wanted to see what the pay is and different levels. Palo Alto Networks how's the sales culture?


Hi guys, so I just started working at a company (today is day 2) at a package of 12 LPA. (No offer letter signed yet, as they said the company is not registered yet). Today, I recieved an offer from a much more established company, at 16 LPA.
What should I do?


If I dont start til later in the month, can I submit receipts for WFH stipend? Or do the purchases have to be on the google card?


I got the mail to work in shift from 2 pm to 10:30 pm. Should I ask for shift allowance for this to my manager or he will provide me by himself ? And what we would be the per day allowance for this timing ?

Hi folks,
Do HCL give joining bonus?
I had HR discussion today. He said as of now we are not giving, will let you know.

If yes, then how much joining bonus can I ask for?
I have 4 years of working experience.


Any non surgical ways to get rid of deeper pitted acne scars?


What time do you start/stop working and how many hours do you bill per day? It seems like such a normalized thing to eat hours..


Hi 👋 I’m a Bank Manager with 12+ years of banking experience looking to transition in fintech sales. I don’t have software exp but banking sales and business development exp. I’m looking for midmarket or enterprise sales executive roles? Ive been applying with no call backs. Any referrals or suggestions please.


I have 10 years of experience in SAP HANA and have offer from Globant, Medline. CTC is same but I am looking for WLB and good work with benifits. Please help me choose one


I got an offer from Deloitte UK in the month of May . I am still waiting for official letter from the UK firm. Is there anyone else who is having the same issue - the HR says it is usual because of year end in the UK.

Is this a usual pattern ? Is it happening with anyone else as well ? @deloitte UK


42F dating 42M for 9 months. We used to live about 30 minutes away from each other and saw each other once a week, but I moved a few months ago (now10 minutes away) and we still only see each other once a week. He calls me every night and we talk on the phone for 1-2 hours. We do lots of fun stuff together- art fairs, sporting events, and just relax and cook together and watch some movies. He sees his friends once every couple months. Am I wasting my time with this guy? No kids/don't want kids


I can’t help but notice recently how much plastic surgery and fillers/Botox has taken over these days (maybe it’s because I’m a woman approaching my 30s idk). But is this what people truly want to look like now? Is this the new standard of beauty? Is this what men like to see on female partners? For example, I saw photos of Megan fox recently and was shocked at how much she’s changed over the years. I feel like everyone tries to look like a kardashian! Straight men: is this what you like?


Happy Monday…grateful for another beautiful morning expressing gratitude for all the wonderful a d amazing things we got in our lives.


Ok so I work for a Contract Review AI. It’s amazing but we’re trying to build brand awareness. I’m a Business Development Manager who has been leveraging cold calling mostly, but I suck at email writing. How would you really boost your engagements in the Legal space?


If I join LTI in October will I be eligible for variable/incentive payout?


what’s mother ny up to these days?


Dear sharks!
Help me with online/ classroom MBA program that could be attended during weekends.
YOE: 6.5
Role: Project Manager
I don’t want to quit my job and pursue full time.


Has anyone used Done or those other adhd services? How is it that keeping up with appointments and getting prescriptions filled for adhd is such a huge issue… the irony is just 🤦‍♀️


Flying out of MSP. Lady ends her call saying “Go Vikings! K bye.” Interesting...


Hi fishes, I have having following offers not sure which one to pick.
Hashedin by Deloitte: 12.25 (10.5 fixed+1.75)
Publicis Sapient : 11.2 Fixed
Mphasis : 12.5-fixed.

I have heard good things about Hashedin so slightly leaned towards it.


Additional Posts in Partner One

How bad are the big4 really doing this year? Starting to see cost saving maneuvers I have not seen in 11 years in public….


P1 - Can you explain the various ways that partners are measured and primary drivers are for compensation? Curious how much selling, utilization (individual and group), delivery, etc impacts comp


How is it ok to have an age limit on entering partnership? I know - been told outright - that nobody over 50 is admitted (and not just at PwC). How is this justified?

What are the US fdd revenues of each big 4?


At a large firm, how much influence do partners have over decision making/how much do they know about the business? I sometime feel like they get info at the same time as everyone else


Any suggestions on executive coaches who have experience with scaling startups?

Question for B4 PPMD 🐠: what would be some tenets of your approach / experience you would share with someone entering at SM level and aspires to play long and make partner? I understand there isn’t a “formula” or a “playbook” and that the question is purposely open ended, but anything that jumps to mind beyond the obvious would be most helpful. As you can tell, I’m looking for a senior mentor who can share their experience and help avoid some common pitfalls. Thanks in advance 🙏


Got email to put my counselee on PIP. His performance is top mark, but bc the panel aren’t factoring in his paternal LOA and his overall utilization. I’ve notified of the need for adjusted (cont’d)


Any tips on improving your public speaking skills? I have trouble engaging people during presentations and meetings, no matter how well I know what I'm talking about.


I've heard a couple of things about how the partner pension amount @ PwC is determined, both similar in approach.

Both calculations I have heard of result in an annuity paid until death, at which point a surviving spouse (if any) receives the annuity.

The first calculation I have heard is that you get 80% of your highest earning year as a partner (e.g. If your best year was $1M, you'd get $800k as an annuity).

The second calculation I have heard is that they look at your three highest earning years as a partner, and take the second highest and you get 100% of that. (e.g if your three highest earning years were $1M, $800k, and $1.2M, you'd receive $1M as an annuity).

Is ANY of this true, or just all rumor? Any PwC partners that can chime in and explain the pension plan fact for fact? Perhaps with sample numbers?


Partners - What truly makes an entry level stand out? Excellent work is just a baseline expectation. The whole “I’m not intimidated, let’s have a coffee?”


I don't know if renaming bowls is possible, but it feels like "Ready Partner One" is a missed opportunity here 😁


Anyone from deloitte got details on the MD pension plan? (Not partner)


Do white papers do anything more than just make subordinates work unnecessarily?
Has a client ever said “Thanks for the white paper, now I want to give you work we had never considered giving your firm?


I am naturally a grinder (this seems lazy ) with an Ivy MBA (maybe this is working smart).

Currently lead an ERP & WFM practice for a top ranked healthcare focused boutique. My background of many industry verticals is now single threaded and looking to open up that back up with ESG as a passion of mine.

Day 1 of seriously looking for opportunities and before I enlist the headhunter and alumni circle to do the lifting, thought I'd see if anyone was looking for a digital transformation leader.


Ready to boomerang back after a stint in industry. How do I approach this? I realize now the perks of consulting and I miss it.


Thoughts in taking cpa exam just to be able to have partner title instead of principal. In tech consulting and don’t need nor will use cpa but I’m eligible to take it as I have acc undergrad / masters


Partners, what are some of your favorite sources to keep up with business and industry news?


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


Embed this post

Copy and paste embed code on your site


Download the
Fishbowl app

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

A phone with Fishbowl app

Send download link to your phone


Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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