Partner - Accounting Firm, Tax Salary
Job Description for Partner - Accounting Firm, Tax
An accounting firm partner, tax is a position with a high stress level that requires an individual be proficient in tax law and accounting practices. The accounting firm partner is responsible for overseeing the operation of the local and regional offices. As an accounting firm partner, ensuring that the offices are running efficiently is a very important aspect of the position.Read More...
In addition, the accounting firm partner is responsible for coordinating and monitoring projects and clientele that the firm possesses. Another important component of the position of accounting firm partner is to make final decisions on all aspects of the firm. An accounting firm partner is also responsible for all employees, including accountants and lower-level executives. This requires the accounting firm partner to have strong management and communication skills. It is essential that the accounting firm partner have the ability to ensure that all of the firm's policies and practices are performed both efficiently and ethically.
The position of accounting firm partner requires a minimum of a bachelor’s degree in accounting or a related field. In addition, an accounting firm partner is required to be a certified public accountant. It is also important to note that two years of auditing and accounting experience is required prior to an individual having the ability to take the test to becoming a certified public accountant. Most of these partners also have a significant amount of relevant experience in management.
Partner - Accounting Firm, Tax Tasks
- Act as the highest executive of the accounting firm, and direct and make the final decision on all its projects and activities.
- Manage the accounting firm's staff, select managers, and evaluate managers' performances.
- Establish the firm's policies and procedures, and make sure these practices are carried out in all of the firm's offices.
- Responsible for the financial well-being of the firm and making sure the offices are bringing in a profit.
- Oversee the operation of regional offices, coordinating their activities and monitoring their performance.
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Pay by Experience Level for Partner - Accounting Firm, Tax
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. The average inexperienced employee pulls down a cushy six-figure sum; the median salary for people claiming fewer than five years of experience is $102K. The average pay reported by folks with 10 to 20 years of experience is around $166K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $205K on average.