Compensation Issues for the New Managing Partner
Five factors to consider in their new compensation plan. And five key responsibilities for the new managing partner.
by Marc Rosenberg, CPA
Author of How to Operate a Compensation Committee
Baby boomer partners are rapidly approaching retirement age, creating a huge demographic shift. One result of this is a dramatic increase in new managing partners at firms.
Marc Rosenberg, CPA, is a nationally known consultant, author and speaker on CPA firm management, strategy and partner issues, and author of “How to Operate a Compensation Committee,” available here.
Many firms are skipping a generation and turning the reins over to “younger” partners. Firms are also asking their new MPs to divest themselves of a significant part of their client base to enable them to focus more on managing the firm.
How should the new MP be compensated?
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