[funtimesNOT]

Somebody just told me there is a manadatory retirement age for partners at the big four? Is this true? They said it was 50!

AUDIT - 79
FAR - 64, 77
BEC - 69, 71,79 - DONE!
REG - 60, 75

Nothing in the 80s ; however, I worked full time the whole time! (like 10 hour days) so it can be done 🙂

[Tripp11]

Well, the US managing partner of EY is 54 years old.

AUD - 93
BEC - 80
REG - 86
FAR - 83

[Anonymous]

I believe there is mandatory retirement… but pretty sure it's not 50. Maybe it differs by firm? But one of the partners at my office is definitely over 50.

[ruggercpa2b]

At the green dot the mandatory retirement age for partners is 65. But since its a partnership its probably in the bylaws. They put that in place so you dont have people hanging on to being partner till they are 90 and not really contributing much. Some do come back in a consulting role. Others start up their own businesses. And some do actually retire.

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I am so ready for this nightmare to be over. Been at this way too long.

[Shel_178]

I'm pretty sure that mandatory retirement in the United States is not legal except in certain professions such as an air traffic controller or a federal agent where your position involves overseeing the health and safety of others. I don't think being an accountant falls into that category 🙂

REG - 86
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Licensed CPA since Feb. 2014

[ScarletKnightCPA]

Yes there is a mandatory retirement age for partners, the reason being, as mentioned already, is to give others a chance to move up the ladder. It is my understanding that they can take on non-partnership role in the firm so they are not completely retired.

That being said, there has been some pressing to remove this retirement age policy but equal rights groups.

My opinion on this is if they did this the entire up or out nature of the culture of the public accounting profession would change as partners begin holding their positions for decades. Profession would change a lot, but perhaps in some ways for the better as lower level jobs demand higher pay and better hours.

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MBA in progress

[Ntw6817]

Not sure about Big Four but the mandatory retirement age at my firm is social security age.

[san4596]

Not kidding here, but the retirement age at my firm must be DEATH! My consists of 4 Partner names, and all but 1 has died! The 1 that is left is now making total bank, since we have retained over 90% of the clients. The last man standing will not pull in another partner, so I have a feeling that my firms existence will cease to exist in the near future.

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[Livijill]

I'm almost certain it is 59 at my firm (big 4)…that being said, the head of our group has extended 3 times, so while it is referred to as “mandatory” it evidently is not all that mandatory.

[Anonymous]

I don't think it's around the 50's at my firm (big4). One of the partner has been with the firm forever (and he still is). He prints out the report to write his review notes and gave it back to the team…so much for track changes

[How many letters do you need]

I think it's completely legal if it's agreed upon in a partnership agreement and completely fair IMO. Time to get off the playground so somebody else can have their turn.

MBA,CMA,CPA, CFF?, ABV?

[Kimboroni]

My audit teacher talked about this issue (she works at big 4, and we discussed many current events in that class). It isn't as young as 50, but it is an age considered young enough to successfully keep working by many people these days. The AICPA was trying to get them to change it. That was in summer 2013.

I found a more recent article: https://www.wsj.com/articles/accounting-group-pushes-back-against-retirement-age-scrutiny-1413840635

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[Anonymous]

Yes there is. It varies from firm to firm, at my Big 4 it's 59. And the reason, as mentioned above, is to give someone else a turn. Big 4 have a pyramid structure (tons of associates and seniors at the bottom, few partners at the top). In order for the top talent to stay, they have to have the incentive that they could one day land the partner gig. There's only but so much room at the top, and if the most talented managers don't believe there's a realistic possibility of making partner, they'll seek other opportunities.

[funtimesNOT]

Wow thanks for the comments! It makes total sense now. I also heard they want twenty years out of you if you are partner. So that is why they don't like to hire past 32 years of age. It is all sort of making sense now. It is soo sad that at age 30 people look at me like I am a grandma! lol whatever, I still grew up with a computer!

AUDIT - 79
FAR - 64, 77
BEC - 69, 71,79 - DONE!
REG - 60, 75

Nothing in the 80s ; however, I worked full time the whole time! (like 10 hour days) so it can be done 🙂

[Author]

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