2007-06-22 06:32:09 · 10 answers · asked by Anonymous in Business & Finance ➔ Corporations
Becoming a partner means that you get to share in a percentage of the companies profits. It is usually the highest step somone working in an office can achieve unless they would open their own practice.
2007-06-22 06:36:48 · answer #1 · answered by rudy 2 · 4⤊ 0⤋
Law firms and similar organizations are often formed as partnerships.
http://en.wikipedia.org/wiki/Limited_liability_partnership
To make partner, this normally means that a person is given or allowed to buy an ownership in the entity that is their current employer. This effectively makes them one of the owners of the business. Some organizations offer partner level positions that only offer a form of profit sharing and not equity in the business.
2007-06-22 06:37:01 · answer #2 · answered by rechdxs 2 · 1⤊ 0⤋
To ascend to highest rank in a law firm, to become partners with the head. Ex: In Sebben and Birdman law firm, Birdman "made partner" with Phil Sebben.
2007-06-22 06:35:48 · answer #3 · answered by desgard 4 · 2⤊ 0⤋
Partner means you own a portion of the whole firm.
2007-06-22 06:35:49 · answer #4 · answered by biggbilly03 2 · 1⤊ 0⤋
Making partner means that you become one of the bigwigs and usually some kind of name or heading change is involved too. It's like CEO is for a big company. You get added benefits and a percentage of the company but more responsibilities also.
2007-06-22 06:37:27 · answer #5 · answered by ~Les~ 6 · 1⤊ 0⤋
It means you go from employee to part owner or "partner". You then have more fiduciary responsibility to the firm and will benefit more from a financial windfall (but also suffer the consequences of failure in a way that owners, not employees, do).
2007-06-22 06:35:39 · answer #6 · answered by Joe Rockhead 5 · 1⤊ 0⤋
I believe it means basically that you are now a partener in that firm, like part owner. The two of you are now business partners and also colleagues.
2007-06-22 06:37:53 · answer #7 · answered by Erin S 2 · 1⤊ 0⤋
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RE :What does it mean to "make partner" in a firm such as a law firm or brokerage firm?
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2017-04-08 17:03:40 · answer #8 · answered by ? 6 · 0⤊ 0⤋
It means you have a finacial anchor on you. If the company goes down, you loose your shirt.
Alternatively, it means instead of keeping your commissions, you have to dole a large percentage of them out to everyone who isn't a partner.
It also is a quite prestegeous thing, and pays quite well...usually.
2007-06-22 06:47:26 · answer #9 · answered by jcurrieii 7 · 0⤊ 2⤋
It means being one of the principal owners.
2007-06-22 06:36:12 · answer #10 · answered by Anonymous · 1⤊ 0⤋