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

likesmart
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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.

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Hey ouch

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

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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.

likesmart

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.

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