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How does a partnership work?

 
#1 How does a partnership work?
01/03/2013 11:33

abc123

Can someone explain how an equity partnership works in the big 4?

When you are promoted to partner, how much equity do you have to put into the firm? Does the firm lend you money to do this? How do you increase your ownership as you progress?

And then, when it comes to getting paid...how are profits shared out?

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#2 RE: How does a partnership work?
01/03/2013 12:27

DCF to abc123 (#1)

You have to put capital in. I assume the amount varies from one firm to the next. At this particular Big 4 firm I understand it is a bank that lends you the money rather than the firm.

It is not your "ownership" that changes as such. Rather there is a points system in operation and you earn more points based on your sales and various other metrics. But mainly your sales. Your profit share is then in proportion to your points total, or according to the band in which your points total places you.

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