Don’t forget how you got where you are.
By Marc Rosenberg
Partner Comp: Art & Science
During my 20-year consulting career, I have been privileged to meet many amazing managing partners, who were very generous in sharing their knowledge with me. I wanted to share them with you.
“The best way to make a lot of money is to build a great team beneath you.”
Rosenberg’s take: Eat-what-you-kill may work out fine for small firms, and may maximize short-term earnings for all firms. But CPA firms operate much more effectively and profitably with the one-firm concept, with all firm personnel working as a team.
MORE ON PARTNER COMPENSATION: Paying for Current vs. Historical Performance | Partner Pay in Retirement Transition Period | How to Pay Non-Equity Partners | How Large and Small Firms Allocate Income | Partner Pay: Recapping the Compensation Systems | 3 Tiers of Compensation | Partner Compensation: An Art, Not a Science
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“If you’re weak at client service and good citizenship, you flunk and you’re out.”
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