PwC partner salary (1 Viewer)

[khosanman]

So how much does a partner make roughly at PWC??

or any of the other big 4's. I heard from someone a junior partners salar is $500,000???

 

[Rorix]

not enough to stop him wishing he was a banker

 

[seremify007]

Not everyone wants to be a banker.

Considering the perks of being a partner, and the special benefits which extend even beyond the p/a T.R., and the pressure relative to IB, I don't think it's such a bad thing.

 

[turtleface]

a few years ago the newspapers reported that a female PwC senior transfer pricing tax partner was on 900K. That was a few years ago, so in present day terms thats around 1.1 mil or so. It varies widely depending on seniority, division, office, years of experience, rank within partnership etc. I think its usually 400K-2 million in Australia (rough guess) for Big 4.

 

[turtleface]

not enough to stop him wishing he was a banker

I dunno bout that, but even so a lot of high paid Investment Bankers (I think that's what you mean) are ex- big 4 partners, or more commonly, ex- big 4 managers

 

[khosanman]

Well I am going into Private Wealth Management at goldman sachs.

Can I make a lot of money in this?

 

[Meads]

My opinion on this whole big4 vs bank pay is this:

It is alot easier to become a partner on $1million plus than it is to become a banker on $1million plus.

Less hours, less stress, and I have no hesitation in saying probably a more enjoyable experience.

However this is just my opinion.

 

[Newbie]

you cant compare the two because bankers work harder but get way more money.

lol stop thinking so far ahead, instead think about exit options incase you fuck up.

mine is becoming a professional starcraft2 player in korea for Sk Telecom T1

 

[Vagabond]

Quick Newbie

Use Teh Black Wholeeee

Well I am going into Private Wealth Management at goldman sachs.

Can I make a lot of money in this?

stop touching yourself

 

[khosanman]

I dont know what you are on about.

I am quite interested to know what sort of cash can be made in this area within a top investment bank.

And if its possible to move into corporate finance from it a year or 2 down the track

 

[Minai]

Junior partners start at about 400k at EY, and I've heard more senior/experienced partners are on over $1m

 

[roadcone]

My opinion on this whole big4 vs bank pay is this:

It is alot easier to become a partner on $1million plus than it is to become a banker on $1million plus.

Less hours, less stress, and I have no hesitation in saying probably a more enjoyable experience.

However this is just my opinion.

agreed..

accounting is not as bad as people make out.

generally people enter IB as a grad, stay for a few yrs to bring home the bucks and cut and run.. if your keen at chartered and pretty good you have a future with only limited (in comparison to IB) feral hours and decent pay.

 

[wrxsti]

what do you mean by a partner? an employee? lol im a newb, i dont know mucha bout business.

so whats a partner?

 

[Kebabci Oglu]

Agreement between 2 or more people for a company/business, they make profits losses and partners are liable for these, these may depend on there initial investment for company during agreement, which limits the partners liability for losses and there profits...............it could be explained in more detail but its boring + long.

 

[lizbon]

accounting firms (and other professional services firms) are usually created as a limited liability partnership which is alot different from your vanilla def'n of a partnership.

 

[turtleface]

I'm not sure if they are "limited liability" partnerships in Australia. In the UK and USA they definitely are LLPs but in Australia the "LLP" (though never really called this" is a little different in that it distinguishs between "general" and "limited" partners and associated rights and obligations. Anyway thats too complex for me. However audit firms do get some liability protection under specific law, but in most other respects they are a normal partnership. That's my take...not sure if I'm right though

The actual firm is a partnership and definitely not a "company" though. However, from my understanding the service trusts that are operated to pay out wages and stuff may be companies (I'm not sure), so technically one may not be incorrect when they claim to work for an "accounting company"even though it sounds a strange. Again thats my understanding but I could be totally wrong.

Some divisions are operated as wholly owned companies such as Corporate Finance and Actuarial. I think this is because of the Australian Financial Services licence requirements that those divisions have.

Again all the above is my understanding only, don't castigate me if I'm wrong. Its a little too obscure to google anything meaningful on this issue.

 

[seremify007]

I'm not sure if they are "limited liability" partnerships in Australia. In the UK and USA they definitely are LLPs but in Australia the "LLP" (though never really called this" is a little different in that it distinguishs between "general" and "limited" partners and associated rights and obligations. Anyway thats too complex for me. However audit firms do get some liability protection under specific law, but in most other respects they are a normal partnership. That's my take...not sure if I'm right though

The actual firm is a partnership and definitely not a "company" though. However, from my understanding the service trusts that are operated to pay out wages and stuff may be companies (I'm not sure), so technically one may not be incorrect when they claim to work for an "accounting company"even though it sounds a strange. Again thats my understanding but I could be totally wrong.

Some divisions are operated as wholly owned companies such as Corporate Finance and Actuarial. I think this is because of the Australian Financial Services licence requirements that those divisions have.

Again all the above is my understanding only, don't castigate me if I'm wrong. Its a little too obscure to google anything meaningful on this issue.

You're the closest so far I'd say. Just remember that each firm has many many entities below it whether it be for AFSL, liability, or other reasons. Not every entity will be strictly a partnership as well. It's not my position to really talk about it but if you actually work in a Big4 firm, have a look at your payslip, the letterheads and the actual audit opinions.