Approaching Accountancy Partnership level? What kinds of benefits should you expect?
We’ve been doing a lot of work recently to support accountants looking for Accountancy Partner jobs in the UK. We’ve already considered the signs accountants should look out for that suggest they might be ready for Partnership and today we’re looking at the kind of employee benefits Partners might expect as they reach the peak of their accountancy career.
What kind of Partner role are you considering?
When discussing employee benefits for Partners it’s important to understand the difference between an equity Partner who part owns the business and enjoys a share in the profits and a non equity Partner who will have no financial interest in the business but might receive a percentage of the profits depending on their contribution.
The benefits of becoming both types of Partner are large but as with all big stakes returns comes a level of risk and when we support candidates in the leap to Partnership we also ensure they have taken the required advice to protect themselves. Key areas to consider would be the profitability the firm has experienced historically and projects in the future, profit sharing ratios between Partners and growth and succession planning and its impact on projected profit.
Let’s talk reward for Accountancy Partners
Our recent Accountancy Salary Guide showcased that Partner Designates can expect to receive upwards of £65k per annum (£65- £100k average). The sky is the limit for full equity share Partners who could expect generous profit share that increases in line with their energy for pushing the firm on into periods of high growth/profitability.
And additional rewards for Partners?
When you reach the pinnacle of your career in accountancy it would, of course, be fair to expect some additional perks as well as a lucrative financial reward.
Many Partners that we’ve matched with great firms take advantage of a great employee value proposition and some indeed play an instrumental part in shaping an even better one for the firms they join!
Usually Partners benefit from increased autonomy and flexibility and a generous annual leave entitlement and possibly a company car.
Your strategic input into the practice is likely to be considerably higher as you’ll be a change maker within your organisation and have the leadership skills to inspire and mentor junior staff as well as using that experience to make similar change for your clients.
Many firms will also have Partnership plans in place for healthcare, insurance and other wellbeing subscriptions that will make life easier for you and your family.
“In our considerable experience of recruiting Partners, we’ve learned that for the right person, with the right skills, the sky is often the limit when it comes to reward for new Partners. We’ve helped candidates secure relocation support, accommodation, bonuses and much more. If you feel you’re ready to take the leap to Partnership we’re perfectly placed to confidentially help you on your way and are well used to having protected conversations and offering our candidates a safe space to explore their next steps.”
Garry Howling, Public Practice Recruitment Ltd
Ultimately the role of Partner is both lucrative and professionally rewarding.
And here at Public Practice Recruitment Ltd we have more than a decade of experience with matching talented and experienced accountants to firms in need of their next Partner. Many of these firms work with us on a retained basis and always want to know about great talent in their field so email us today with details of the kinds of firms and locations you can see yourself as a Partner at.
Or take a look at our search jobs board page where you’ll see jobs such as Accountancy Partner in London or Corporate Finance Partner Designate in Birmingham.