Lateral Partner Career Considerations & Deferred Compensation Trends
November 2016 ~
Dear Friends and Colleagues,
I hope this finds you well and a bit less stressed post 10/17 deadline and post "The Election". I can't recall a more tumultuous election and am hopeful of a long term positive outcome.
Thinking about the time of year and what's happening in the public accounting profession, I want to share the following observations.
A post regarding what CPA Partners Must Do If Considering a Change
If you are considering a change, I want you to have all the tools and facts you need.
CPA Partners - Get the Facts First: The 8 things You Must Do If Considering A Change
If you're a partner in a CPA firm, you are now part of the "1%" in the accounting profession and have achieved the pinnacle of success. Like most CPA partners, you have probably made only 2-3 job changes in your career (maybe none), and have likely been where you are now 10+ years. You're fairly conservative and somewhat risk averse. See more.
Two key takeaways:
Deferred compensation is generally for equity partners only, though I see a movement of firms offering it now to non equity partners, but at a lower valuation formula.
The trend is toward a lowering of the compensation multiple, but there are some firms offering higher including up to 3 times the recent average compensation.
If you would like to discuss this or any other issues related to your practice or career, please don't hesitate to contact me. My direct line is (212) 490-9700. Or email me at firstname.lastname@example.org. Absolute confidentiality always assured.