Based on its revenues, Deloitte's accounting practice ranks it in first place in 2011. Deloitte Touche Tohmatsu (DTT), Deloitte's international network, spans across 140 countries and employs 165,000 people. In the United States, the company operates as Deloitte & Touche LLP. Deloitte prides itself on rewarding strong performers with opportunities for advancement that include elevation to partner. A partner may earn a six-figure salary but the amount depends on the region and strength of the practice.
The process of becoming a partner takes years of hard work, political savvy and a bit of luck. Your income increases substantially when you become a Deloitte partner, as you get to share in the profits of the company. You also have a say in management of the practice. However, earning the big bucks also means additional responsibilities for bringing in new business and managing employees.
Path To Partnership
College graduates enter Deloitte as business analysts, systems analysts or project analysts. MBAs join Deloitte as senior consultants. From an entry-level position at Deloitte, a consultant has several options to move up the ranks. Based on his track record, a consultant may move to project leader, then to senior project leader followed by associate partner. Each advancement carries greater responsibility and a higher salary. Associate partners can move to partner, where the increase in pay is substantial. With further success, a partner may become a senior partner.
According to GlassDoor.com, an audit partner at Deloitte reported an annual salary range of £251,550 to £270,400. However, partner salaries depend on the size of the practice, area of expertise, region and experience. For example, a Deloitte consulting partner with several large Fortune 500 client relationships based in New York City earns more than one with a smaller consulting practice in Montana. A senior partner may expect to earn a seven-figure salary after several years at Deloitte. Generally, top partners at one of the Big 4 accounting firms (Price Waterhouse Coopers, Ernst & Young, Deloitte, and KPMG) with 10 years or more years of experience can expect to earn well over £650,000 per year.
Working for Deloitte with aspirations of becoming a partner is a lofty ambition. Few employees receive a seat at the table as partner. Deloitte prides itself on rewarding employees who stand head and shoulders above the rest, so the competition to earn a partner's salary is tough. Once an employee becomes a partner, he must work hard to bring in business and manage his employees to meet profitability targets. Becoming a partner means longer hours, frequent travel and more pressure.