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PARTNER COMPENSATION STUDY

Vencon Research International has worked with a number of leading international consulting firms to benchmark both the level and structure of their Partner or Vice President compensation, and can assist in evaluating and optimizing the client firm’s structure against their commercial and organizational goals if desired.

Given the complexity of the overall compensation package when related to the Partner group, this work is undertaken on an individual project basis, and requires considered input from the client firm. The results are then presented in multiple report format covering the structure of the total compensation package, benchmarking studies for each compensation element on a per-country basis, and the drivers and targets which influence the overall compensation level. 
 
REPORT CONTENT

The Partner Compensation Study comprises up to five volumes. Three of these are ‘Global’ reports, presenting information which is constant for each firm, irrespective of the country of operation. The remaining two are county specific, and benchmark the range and level of compensation in local currency.
The Vencon Partner Study identifies three grades of partner, and the comparator alignment of these is agreed with the client at the outset of the study; in generic terms, these would equate to Senior Partner (typically global partners or country head of a major firm), Experienced Partner (may be a practice head) and Entry Partner (the first level of partnership, although in major firms this may be a career grade).

The following reports are available:

  • Firm remuneration structures, a global report identifying which of a number of elements for both current and deferred compensation are utilized by each firm, and how the remuneration of an individual partner is determined within the overall compensation range.
  • Firm performance data, a second global report benchmarking performance characteristics of the firms being compared in terms of staffing pyramids and ratios, revenue targets and revenue per unit of staff.
  • Background data tables of Partner remuneration, a per country report tabulating both target and expected or actual income by firm, and by partner grade.
  • Firm monetary comparisons, the second per country report, presenting text and graphic based analyses and comparison of individual firm partner remuneration.
  • Firm fringe benefits offered, a final global report presenting an overview and valuation of selected additional benefits being offered by the individual firms
 
REPORTS DESIGNED FOR AND BY MANAGEMENT CONSULTANTS
The Vencon Partner Study is a bespoke work, tailored to the needs and requirements of each individual client.  At the outset, we agree with the client the terms of reference for the study, and can advise on which report(s) best meet the client objectives.  In addition, we can indicate whether the comparator group should be restricted in order to illustrate specific issues.
To enable meaningful cross-comparison the reports include non-dimensional or harmonized data for a number of key dimensions.  For example:

  • All compensation data are quoted in both local currency, and a standard reference currency (usually US Dollars) to facilitate international comparison.
  • Revenue targets are presented in both absolute terms, and on the basis of ‘per 100 total staff’ to provide insight into the economic model of each firm.
  • Target and actual compensation are presented both in absolute terms, and as a percentage of revenue, to give a more consistent comparison basis.
  • The correlation of compensation with revenue is further examined with respect to the variable portion of the package, thereby illustrating the risk:reward relationship of each firm.
Additional data analyses can be undertaken if desired, and for multi-country studies we will prepare an Executive Summary to support presentation of the specific findings to the final target audience.  Vencon Research partners are also available to present such findings, if required.  
In all instances, Vencon partners are available throughout the study to assist clients in assessing and interpreting the data and findings.
Vencon has significant experience of working with client partner groups to suggest directional recommendations for revising or enhancing the compensation structure, and can offer this as an additional, discretionary element once the study has been completed.
 
COUNTRIES SURVEYED

Vencon Research International surveys all of the world's major consulting markets.
Responding to the progressive growth of management consulting activity into new and developing markets we now serve clients in some 55 countries, including:

  • North America – USA and Canada
  • Latin America – 6 countries, including Argentina, Brazil and Mexico
  • Western Europe – 16 countries, from Austria to the UK
  • Eastern Europe – 9 countries, including Czech Republic, Russian Federation and the Ukraine
  • Africa & Middle East – Israel, Nigeria, South Africa, Turkey and the UAE
  • Asia-Pacific – 13 countries, from Australia to Thailand

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