partner

how to pay non-equity partners

by

businessmen standing on dollar billdeferred compensation is on the rise.

by marc rosenberg
partner comp: art & science

there are obvious differences between equity and non-equity partners, including how they are compensated.

more on partner compensation:3 rules for promotion to partner | the 8 basics for data-based partner performance evaluations | how to set the managing partner’s compensation | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

however, the differences aren’t as great as many people think.

read more →

why communication matters so much

by

two businessmen talking at officethe experts weigh in. hint: it’s not about you.

by martin bissett
passport to partnership

what does communication mean at the partner level?

more on the passport to partnership: 5 ways to get buy-in for firm culture | competence: more than technical skills | partnership: competence is just the foot in the door

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

ask yourself and answer these questions when considering the current and future communication tactics that you’ll employ.
read more →

3 rules for promotion to partner

by

pocket moneyreward them, don’t discourage them.

by marc rosenberg
partner comp: art & science

three general philosophies should apply for all partner promotions:

more on partner compensation: the 8 basics for data-based partner performance evaluations | 5 types of partner evaluations | how large and small firms allocate income | partner pay: recapping the compensation systems | 5 other systems for paying partners | why firms use partner comp formulas

 

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  • getting promoted in any business should be celebrated. in cpa firms, the promotion to partner is a career-making event, deserving of a nice promotion raise. a common range is 10-15 percent in the first year.

read more →

best practices for one-on-one communication

by

4 winning habits of top accountants.

component parts of how the other person perceives your in-person communication
component parts of how the other person perceives your in-person communication

by martin bissett

i’ve had the benefit of meeting, speaking and observing hundreds of very successful and unsuccessful partners over the last two decades and there is indeed a set of differentiating factors that set a partner apart from the chasing pack.

more on the passport to partnership: 3 questions to evaluate your firm culture | learn to read your firm’s culture | 5 ways to get buy-in for firm culture | competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door | are you partner material? maybe not

here are the four “best-selling behaviors” that i’ve observed:

read more →

7 levels of communication management

by

chart showing passport to partnership's 7 levels of communication management4 reasons that senior managers struggle.

by martin bissett

ultimately, when we have to interact with clients, subordinates, superiors or peers, the questions are always the same: who do i need to deliver this information to and what approach would they respond most favorably to?

more on the passport to partnership: 3 questions to evaluate your firm culture | learn to read your firm’s culture | competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door

in arriving at “communication” we come to the most intangible of all the components to obtain a “passport to partnership.”
read more →

5 ways to measure partner potential

by

learn to read your firm’s ‘cultural blueprint.’ptp_2ndc

by martin bissett
passport to partnership

what conclusions can you draw from your knowledge of how the promotion system works in your firm that you need to keep in mind?

more on the passport to partnership: 3 questions to evaluate your firm culture | learn to read your firm’s culture | 5 ways to get buy-in for firm culture | competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door | are you partner material? maybe not

in terms of firm culture, you need to understand the four navigational points of the compass:

  1. who do i need to stay on the right side of?
  2. what are the unwritten rules in my firm?
  3. whose opinions can be trusted?
  4. what really impresses the partners?

and here’s a five-part analysis to see how you measure up:

read more →

the 8 basics for data-based partner performance evaluations

by

businesswoman writing with pencil on notepad in the officeplus: 3 choices for setting the reporting year.

by marc rosenberg
partner comp: art & science

there is no standard list of data to review for evaluating partners.

more on partner compensation: 5 types of partner evaluations | should the mp be the highest paid partner? | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | what partners earn and how they earn it | why most partner comp systems are performance-based

but here is a good, solid list of the eight basics:

read more →

5 types of partner evaluations

by

woman conducting evaluationplus sample questions.

by marc rosenberg
partner comp: art & science 

why do firms do performance evaluations of partners?

more on partner compensation: should the mp be the highest paid partner? | how to set the managing partner’s compensation | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | why most partner comp systems are performance-based

the textbook objectives of performance evaluations are:
read more →

3 questions to evaluate your firm culture

by

silhouettes of three business partners talking against a window in an officeyou have to gauge this to effectively move toward partnership.

by martin bissett

this second c is a stormy and choppy one, often fraught with political icebergs but navigated diplomatically and with maturity, will lead you through.

more on the passport to partnership: learn to read your firm’s culture | 5 ways to get buy-in for firm culture | competence: more than technical skills | partnership: competence is just the foot in the door | are you partner material? maybe not

case study on culture

deborah had done well. she was bridging the firm’s culture gap and fulfilling its desire to be seen as an equal opportunities employer by becoming the practice’s standout rising star.
read more →

how to structure partner buy-in

by

businessman writing out a check8 considerations to factor.

by marc rosenberg
how to bring in new partners

we’ve said that large buy-ins for new partners have fallen out of favor, but regardless of the amount, questions about structure remain the same.

more: keys to bringing in new partners | working business development into your day | networking for fun and profit | 14 marketing activities needed now more than ever | now is the time to activate your referral network | the 4 marketing disciplines | why you have to kill the old paradigms | are you ready for the great disruption?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the eight points to consider include:

read more →

should the managing partner be the highest paid partner?

by

businesspeople standing atop 5 stacks of coinsit depends, and not on what role you play.

by marc rosenberg
partner comp: art & science

there  are  two  responses to the headline question. first, there is no automatic rule or customary practice that says the managing partner shall be the highest paid partner.

more on partner compensation: how large and small firms allocate income | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | what partners earn and how they earn it | why most partner comp systems are performance-based

second, it depends on how the mp’s overall performance compares to other partners. firm management, originating clients and the size of one’s clients under management (“book of business”) are far and away the factors that earn the most income for a partner.

here are illustrations of various scenarios:
read more →

6 ways to pay partners

by

paying for performance alone doesn’t always work.the number 6 made from dollar stacks

by august aquila
creating the effective partnership

many of us, including myself, thought that the right compensation plan would solve the answer to underperformance and motivation. over the last 10 years or so, firms have moved from a formula-based plan to a pay-for-performance plan that takes into consideration

  • production,
  • business development,
  • value enhancement and
  • behavioral factors.

more on leadership for pro members: work together better in 11 steps | the checks and balances your firm needs | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger

while this has helped place more emphasis on performance, it hasn’t been a magic bullet. why are so many firms still missing the boat when it comes to motivating partners and staff to perform at a higher level?
read more →