November 21, 2018

CONFIRMED: Public Accounting Firm Partners Are Filthy Rich

Hear that squeaky, rattling sound? That’s a partner pushing a wheelbarrow full of cash through the hallways of your firm.

Accounting Today has some highlights from the latest Rosenberg MAP Survey, which includes this tidbit:

This year, the survey found that income per partner increased to $441,000, or 3 percent higher than last year. However, this year ended a trend where the growth in income per partner was catching up to firms’ net fee growth. “We hope to see a time where the IPP growth is at least the same as the net fee growth as it was in 2006,” said the survey.

More good news for partners: Income per partner has increased each year since 2010, according to previous years’ Rosenberg MAP Surveys (2013 data N/A):

  • 2017 (based on 2016 data): $430,000
  • 2016 (based on 2015 data): $406,000
  • 2015 (based on 2014 data): $392,000
  • 2014 (based on 2013 data): N/A
  • 2013 (based on 2012 data): $386,000
  • 2012 (based on 2011 data): $366,000
  • 2011 (based on 2010 data): $360,000

You can purchase the full survey report for $500, which is a drop in the bucket for you public accounting firm partners.

Related articles:

How Are Public Accounting Salaries Stacking Up for 2019?
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Image: iStock/ZargonDesign

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BDO, Looking to Spread Out Some Liability, Admits New Partners

BDO_International.pngAs you probably know, BDO Seidman is having a rough year. Tax shelter prosecutions and trials for the International Global Coordination firm that now falls on the U.S. make for some big liability exposure.
The obvious solution to this conundrum? Spreading the love!

BDO Seidman, LLP, is pleased to announce that 10 new partners have been admitted to the partnership, effective July 1, 2009. Five of the new partners are in the tax practice, four are in the assurance business line and one is in BDO Consulting. BDO Seidman, LLP is a leading national professional services firm providing assurance, tax, financial advisory and consulting services to private and publicly traded businesses.”I am very proud to welcome each of these very deserving individuals to our partnership,” said Jack Weisbaum, CEO of BDO Seidman. “The key to maintaining momentum in our profession is a commitment to recruiting, training and retaining superior client service professionals. Each of these new partners is an example of our commitment to human capital development.”

What are the chances that these new partners are some of the most hated people in the firm? C’mon, $520 million judgment hanging out there, the bigwigs have to be thinking, “well, as long as we’re screwed, we may as well stick it to some people within the firm we don’t like.”
Congrats to the new partners!

BDO Seidman, LLP, Admits 10 New Partners
[BDO Seidman Press Release]

Grant Thornton Spreads Out the Liability, Admits Nineteen New Partners

grant-thornton-logo-with-rose.jpgNineteen individuals have proven their passion for the business of accounting (as well as an intrepid attitude towards liability) as G to the T admitted new partners and directors effective August 1.
The press release is your standard trite lexicon but we can’t help but notice GT taking the opportunity to slip in their favorite moniker, “Global 6 accounting organization” or a derivative of such. GT is bound and determined to get this to catch fire even though no one outside of the GT press team has probably uttered the phrase.
Grant Thornton LLP admits 19 new partners and principals to the firm [Press Release]