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Why don’t you start with your firm’s?
Congratulations on your promotion. I don’t believe that you don’t have any idea of what you can expect
Big 4, National, Regional, or local firm? What market? What book size and/or role?
Congrats on making partner! I think most firms build up the comp so the jump in comp to partner is not tremendous. There is an adjustment to equalize the comp from employee to partner (self employment tax, differences in insurance payments, state taxes, etc) and then an increase for the promotion (maybe 10-20%). I would expect the comp and taxes to get a lot more complicated quickly and the payoff to come more in the following years.
Is it nonequity/low equity or full equity partner? What practice group? 250-400k is the range for non-big 4 new partners, assuming not a lateral hire or extremely experienced (>18 years) and not advisory. Equity partners would be higher in that range but with more required capital to pay back.
Normally you would get a raise of at least 20% plus the incremental cost of being self employed for tax purposes (thats another 13-18%).
This is more accurate than the range above.