The Finance Side of Goals and Compensation

Remember the “one firm” concept is at the core of this discussion.

Previously we reviewed the goal-setting process, including which person or group should orchestrate which parts of it. Now we will conclude the discussion by walking through the financial side of assessing goal accomplishment and how it works when considering actual firm profits.

MORE: The Partner Comp Battleground | If You Don’t Eat What You Kill, What Do You Eat? | 3 Ways to Emphasize the One-Firm Concept | 8 Steps for a Successful Change Process | Building Competency on Every Level | Change Happens: How to Master It.
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Let’s start with some statistics from our latest Succession Planning survey, which we did in partnership with the AICPA’s PCPS. The following tables show information regarding compensation systems, broken down by size of firm (by full-time equivalent [FTEs] which includes everyone, from administrative to staff to partner):

Posted on August 18, 2019

Tommye Barie

About the Author

Tommye Barie is executive vice president of leadership development at The Succession Institute, where she drives results and collaboration through balanced inspirational and strategic leadership.

Barie is a recently retired partner of one of the 100 largest full-service accounting and consulting firms in the US. After more than thirty years as an audit and assurance partner, and as her last charge before retirement, she launched the firm’s client advisory services practice. She served on the firm’s audit and assurance committee and the firm’s FAST (forward and strategic thinking) committee.

Barie has a proven track record of leadership and visioning with various organizations. Her thought leadership on culture, strategy, and innovation led to Tommye being recognized as one of the 100 most influential people in the accounting profession, as published in Accounting Today. Additionally, the Michigan Society of CPAs recognized her with their Outstanding Visionary Award.

In addition to serving her former accounting firm, Barie is among the most well-known and highly respected leaders in the accounting profession. During 2014-2015 she served as Chair of the Board of the American Institute of CPAs, and she previously served as Chair of the Florida Institute of CPAs. She has also served on the board of the National Association of State Boards of Accountancy’s Center for Public Trust.

Barie is actively involved in the international accounting profession and currently represents the United States as a board member of the International Federation of Accountants. She also chairs the governance committee and leads the organization’s constitutional review process.

Barie has always placed importance on leveraging her leadership skills and experiences to influence the lives of young professionals. Throughout her career, she has mentored and guided women and men in her own firm and in the many firms she has worked with throughout the United States. Additionally, she enjoys serving on the College of Business Advisory Boards for Stetson University and the University of South Florida.

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