Partner Compensation, Peformance and Current Trends
I had the distinct pleasure of attending The Advisory Board’s Partner Compensation conference in NYC September 20 and 21. The Advisory Board is comprised of industry leaders Allen Koltin, Gary Boomer, Rebecca Ryan and Gary Shamis. It was a fantastic event and I recommend it for the future. Their conference listings can be found here.
Regarding partner compensation, let me share just a few items of note:
- Less than 50% of surveyed firms have formal partner evaluations. (This is even more startling in an era of much concern re: unproductive partners.)
- There is a silent crisis brewing. Industry experts recommend having two high potential future partners for each current partner. Very few firms have that and we all know the age demographics of the current partner group.
- Closed compensation systems are becoming more of the norm.
I can provide more details on the above points and more if interested. E-mail me at email@example.com or call me directly at 212-490-9700.
I also recommend The Advisory Group’s 10th annual "Winning is Everything" Conference in Las Vegas January 2011. I will confess that this is a shameless plug for these events because I have attended and they are great. - Robert Fligel, CPA