How much do you earn?
Discussion
johnwilliams77 said:
Porridge GTI said:
Oil-related in the Middle East.
Must be a fairly senior position. Does your work feel like a hobby too?! I find it hard to believe the senior management love it, it is more ‘bearable’ due to the rewards.But it’s like a hobby in the sense I have hobbies that definitely require a similar mental approach (heavily analytical).
designforlife said:
toon10 said:
designforlife said:
33, earning £35k pa. Zero work stress,mid level job which I can do with my eyes closed. Regular 9-5 hours, can't remember the last time i was in the office past 6pm.
In Hertfordshire that's nowhere near enough for living costs really...i'll be dead before i can afford to get on the property ladder
I remember being in my mid 30's on £36k pa doing a zero stress mid level job that I could do with my eyes closed. Also regular 9 - 5, never in the house later than 5:15 pm every night including my 1:30 pm Friday finish. That was until the company decided to do away with software development and I ended up going down the management route. Department head now and I can only dream of the glory days. I'd happily go back to that and sacrifice the extra cash for a less stressed life. Enjoy!In Hertfordshire that's nowhere near enough for living costs really...i'll be dead before i can afford to get on the property ladder
I'm very appreciative of my current situation!
Got pulled into the office this morning and offered a more senior/managerial role that I can't really turn down. At least it's for the same company and in the same location.
That'll teach me lol.
brickwall said:
Though isn't the carry normally taxed as cap gains? Let's say £2.2m net - if that's once every 5 years then it's equivalent to an additional £750k of gross ordinary salary pa.
Carried interest isn’t taxed as capital anymore. It has its own special tax regime and rate. You can probably tell what my specialism is!db10 said:
Carried interest isn’t taxed as capital anymore. It has its own special tax regime and rate. You can probably tell what my specialism is!
@db10Partnership at the big 4 is a pyramid game as I understand it. Lots of foot soldiers at the bottom and fewer and fewer people the higher you get. I have a friend at big 4 who works in consulting. He works in the Middle East Monday to Thursday and back to London Thursday night for a day of working from home on Friday. I sure hope he gets made partner (director at the moment aged 36) but surely there must be many like him who work damn hard but just don't ever make partner. Sure the director level salary is good but it's several fold lower than partner
Must be hard managing such types?
The number of new partner promotions in Big 4 firms is very small each year and hard won and keeping keen directors happy seems to be a major headache! It’s a balancing act between retaining them within the firm and not promoting them too early at a stage when they’re not ready, or simply not needed.
People who get stuck at director level sometimes take the hump and move on to become a partner with a mid-tier firm or to become a FD/FC/whatever somewhere when if they’d kept their cool they might have made it eventually. My OH has for a time now been subtly encouraging a director to come across as being more partner-y but the person in question is finding the situation very frustrating as they feel that the clock is ticking.
People who get stuck at director level sometimes take the hump and move on to become a partner with a mid-tier firm or to become a FD/FC/whatever somewhere when if they’d kept their cool they might have made it eventually. My OH has for a time now been subtly encouraging a director to come across as being more partner-y but the person in question is finding the situation very frustrating as they feel that the clock is ticking.
Unexpected Item In The Bagging Area said:
The number of new partner promotions in Big 4 firms is very small each year and hard won and keeping keen directors happy seems to be a major headache! It’s a balancing act between retaining them within the firm and not promoting them too early at a stage when they’re not ready, or simply not needed.
People who get stuck at director level sometimes take the hump and move on to become a partner with a mid-tier firm or to become a FD/FC/whatever somewhere when if they’d kept their cool they might have made it eventually. My OH has for a time now been subtly encouraging a director to come across as being more partner-y but the person in question is finding the situation very frustrating as they feel that the clock is ticking.
It’s an interesting challenge (I’m sure books have been written about it). As you become a more senior partner you are able to influence things like partner promotions, so if you have a more senior partner sponsor who’s prepared to spend their political capital on a director then it works pretty easilyPeople who get stuck at director level sometimes take the hump and move on to become a partner with a mid-tier firm or to become a FD/FC/whatever somewhere when if they’d kept their cool they might have made it eventually. My OH has for a time now been subtly encouraging a director to come across as being more partner-y but the person in question is finding the situation very frustrating as they feel that the clock is ticking.
The staff turnover in my team is extremely low as I’m able to make sure the majority of people get what they deserve on pay rises or promotions. It helps that my business is one of the most profitable in the firm.
Anyone aspiring to be a partner should watch the entire run of house of cards with Kevin spacey, it’s not dissimilar minus the deaths obviously !
Yup - carried interest is treated as income or capital gains depending on the holding period of underlying fund investments.
I also have to invest a 6 figure sum into my funds to show alignment of interest, which of course is subject to CGT and not IT.
Do Partners at big 4 firms need to deposit in any significant equity these days?
I also have to invest a 6 figure sum into my funds to show alignment of interest, which of course is subject to CGT and not IT.
Do Partners at big 4 firms need to deposit in any significant equity these days?
P1ato said:
Yup - carried interest is treated as income or capital gains depending on the holding period of underlying fund investments.
I also have to invest a 6 figure sum into my funds to show alignment of interest, which of course is subject to CGT and not IT.
Do Partners at big 4 firms need to deposit in any significant equity these days?
Yes they do. A 6 figure number at the lowest level and as you get more senior the capital contribution goes up. My capital contribution is currently about 350kI also have to invest a 6 figure sum into my funds to show alignment of interest, which of course is subject to CGT and not IT.
Do Partners at big 4 firms need to deposit in any significant equity these days?
db10 said:
Anyone aspiring to be a partner should watch the entire run of house of cards with Kevin spacey, it’s not dissimilar minus the deaths obviously !
I’m watching series 4 at the moment and agree that the politics are similar to what I hear about the goings on at the firm! There’s a lot of big egos amongst the partner group. Unexpected Item In The Bagging Area said:
I’m watching series 4 at the moment and agree that the politics are similar to what I hear about the goings on at the firm! There’s a lot of big egos amongst the partner group.
Do you get weird reactions from the power men when at events for couples for being 'stay at home dad'?
johnwilliams77 said:
Do you get weird reactions from the power men when at events for couples for being 'stay at home dad'?
No not at all. People have only ever reacted in a positive way and understood why we work things the way we do. It would have been very different 20+ years ago though and there’s still a long way to go WRT getting more women into the top ranks. Unexpected Item In The Bagging Area said:
No not at all. People have only ever reacted in a positive way and understood why we work things the way we do. It would have been very different 20+ years ago though and there’s still a long way to go WRT getting more women into the top ranks.
That's pleasing to hear. I have found the most Senior management (CEO/MD/Partner) I have encountered to be more open/honest/approachable/trustworthy people compared to the middle to middle senior management who would rob their Gran to get to the next position. Of course, I am sure there are many examples which blow this theory out of the water...!johnwilliams77 said:
Unexpected Item In The Bagging Area said:
No not at all. People have only ever reacted in a positive way and understood why we work things the way we do. It would have been very different 20+ years ago though and there’s still a long way to go WRT getting more women into the top ranks.
That's pleasing to hear. I have found the most Senior management (CEO/MD/Partner) I have encountered to be more open/honest/approachable/trustworthy people compared to the middle to middle senior management who would rob their Gran to get to the next position. Of course, I am sure there are many examples which blow this theory out of the water...!Gassing Station | The Lounge | Top of Page | What's New | My Stuff