One of the biggest challenges for managing partners, other partners, and firm administrators is to figure out how to design a partner compensation system that is effective, yet fair.
I hope you will join me on Wednesday as I discuss the most common compensation systems in use today and provide my perspective as a former managing partner of a top 200 firm. I will help you determine what is right for your firm and how a firm evolves from one system to the next as it grows. I will also give you some tips on setting up a performance-based system in your firm and how to align your compensation system to your firm’s strategic plan.
Wednesday – – September 4, 2019 – 1:00 to 1:50pm ET
The webinar is in conjunction with CPA Leadership Institute and is free to members. Become a member for only $49 and have access to all webinars.
Click here for more information and to register.
There is a constant topic of conversation both inside firms and at almost every conference. It is the age old question of partner comp and “how do you do it”. As our firm grew, we evolved from everyone is even, to the slip of paper approach, to a more goal driven, performance based system. Every firm is a little bit different but the issues surrounding how you split the pie are pretty consistent.
How you choose to solve the partner comp question in your firm depends on a number of things including size, number of partners, where you are on the firm age/evolution spectrum, etc. There is a movement to more performance and goal driven systems even in smaller practices, and moving away from the “we’re all the same”. We all know that the reality is that we’re not.
I have developed a one page checklist tool on Partner Comp to help get you thinking and hopefully to review your current process.