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Quote:

Originally Posted by Unregistered (Post 183578)

Correct me if im wrong, My understanding is that junior partners dont have " equity" but are merely paid a higher salary of about 16-29 k pm. They are not considered true partners in that sense. Heard the "true" EQUITY partners are the ones who are the senior partners or Expats.

Logically, all big 4 promote so many people to partners each year and the older existing partners are still around and not retiring. It makes so sense that so many hundreds of people have EQUITY priviledge. The ones who get to " buy into the firm" are a selected few

To my knowledge, this is only true for US / other countries with salaried partners.

Singapore context only has equity partners.

Quote:

Originally Posted by Unregistered (Post 183576)

How do they get all these clients? Means must go poach right

Do assurance SM also have to get sales targets ?

Networking, connections, recommendations by existing clients?

There’s no explicit sales target and senior managers do not earn a commission.

It’s just you need to bring in clients if you’re looking to make partnership.

If you are happy stuck in your role then there’s no real need to do so.

Quote:

Originally Posted by Unregistered (Post 183578)

For the Singapore EY, what usually happens for the junior partners is that they usually do not have enough capital to buy into the partnership. Hence, for the first few years, the junior partners do not actually get any huge dividend payout from their equity as that is used to pay off their buy-in into the partnership. Only after a couple of years do they actually start to take home lots of money from their equity stake in the partnership.

Heard rumours that DT currently reviewing salary to match other 3, anyone can confirm?

If people are equity partners at such a young age 40 years alrdy can become partner they must be SUPER rich , cause these people dont retire early, dont get fired

Can someone explain to me this concept of singapore equity partner in the big 4?
Are u paid a salary/bonuses?

is it hard to get to be SM in TMT for yellow

Quote:

Originally Posted by Unregistered (Post 183562)

BTW I am a incoming M in Yellow. I have no sales target. Focusing on technical work and act as SME for complex project.

which industry are you in?

Quote:

Originally Posted by Unregistered (Post 183584)

Heard rumours that DT currently reviewing salary to match other 3, anyone can confirm?

I doubt anyone here will be able to confirm such information. Please try asking your superiors instead.

Quote:

Originally Posted by Unregistered (Post 183547)

Is Senior Manager the maximum level you can go by being an office “worker”? And further progression is more sales-based like having the connections to bring in customers?

Lol if I wanted a sales based role I go be salesman or marketing in the first place.

Or if you have those connections, you don’t really need to depend or beg the firm for promotion right? They will be rushing to promote you.

Revenue generation is of course the most important aspect for any firms. Even if you join any banks/ FIs, at the C-suite/ top management level, it’s all about business development - growth, partnerships/ M&A to increase revenue/ operating profits