Is It Time for a Partner Compensation Checkup?

Green checks being made on checklist6 questions to ask, 9 standards to follow.

By August J. Aquila
What Makes a Great Partnership

Ever wonder what the most appropriate partner compensation system is for your firm and how to assess partner performance?

MORE ON GREAT PARTNERSHIPS: The 3 Types of Partners You Need | 6 Focuses for Managing Partners | 10 Steps to Transitioning to a New MP | What Managing Partners Should Be Doing | Do Your Partners Pay Their Own Way? | 7 Keys to Becoming an Equity Partner | How and Why to Achieve Partner Unity | How You Can Get Partners to Change | Why Expectations Must Be Defined | Are You Driving Your Best Partners Crazy? | 7 Warning Signs for Your Firm
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A firm’s compensation system is a reflection of its culture and external competitive factors. When was the last time you gave your partner compensation system a checkup?

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August J. Aquila



About the Author

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August J. Aquila is an internationally known speaker, consultant and author and has held leading positions in the accounting profession for more than 25 years. He is CEO of AQUILA Global Advisors, a full-service consulting firm to accounting and other professional service firms in the US, Canada UK and India. August focuses his consulting on designing compensation plans, resolving organizational and partner issues, transition planning and developing strategic plans.

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Before starting AQUILA Global Advisors, he held several executive leadership positions with American Express Tax and Business Services, Inc. He was also a partner in a top-50 firm and regional marketing director for Coopers & Lybrand (now PWC) in Chicago. In 2003 he was elected into the Association for Accounting Marketing’s Hall of Fame and has been selected as one of the “Top 100 Most Influential People in The Accounting Profession” by Accounting Today for several years.

He is the author of hundreds of articles and several books on practice management; mergers and acquisitions and compensation plan designs. Recent books include The CA Firm of the Future (Bombay CA Society, 2013), Performance is Everything (AICPA 2012), Compensation as a Strategic Asset (AICPA 2007) and Client at the Core (John Wiley & Sons 2004). August is also a co-author, with Robert J. Lees and Derek Klyhn, of Leadership at its Strongest: What Successful Managing Partners Do (Bay Street Group LLC, 2013), the ground-breaking research on how managing partners drive improvements in their firm’s competitive and financial performance

 

Click here for more by August J. Aquila