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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am a CPA for a few downtown and they (my clients) make between 3M and 7M fairly consistently. [b]Some do broach $10M+[/b][/quote]

That is insane! Wow.

So do most partners fall in the 3-7M range? And what are their ages?[/quote]

NO. Most do not. PP has somehow cultivated the higher end of the range for clients. [/quote]

Makes sense, because partners making that kind of money are more likely to need a CPA. Also if the firm does business in multiple states, the partner needs to file non-resident returns in each of those states. [/quote]

Every partner with a K-1 needs a CPA. Most firms reimburse partners for their tax preparer (ours pays up 4k I think).

The 7MM figure is definitely high end. That’s only remotely normal at a handful of firms (Wachtell, Kirkland, DPW, S&C, maybe Cravath). For most “good not great” firms there will be a good handful in the 7MM-12MM range and a whole lot more in the 2MM-3MM range.

Not to scoff at 2MM. Most biglaw partners are making that kind of pro athlete money by 50. But it’s backup QB money, not Mahomes money… you get to pick one thing: a yacht, a beach house, a house in southern France, a car collection. But you don’t get them all. And given that most are divorced at least once and paying for who knows how many college tuitions and [b]underachieving kids[/b], they may need to be happy with a Range and a CC membership. [/quote]

Man… why is this? I don’t know a single particularly successful kid of a big rainmaker partner. It’s scary. [/quote]

My dad is retired now but was a successful big law partner and one of my brothers is even more successful in finance. Another sibling also very successful in finance. My dad told us not to be lawyers, lol.[/quote]

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