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Expectations on bringing in a client to the firm (public accountant)

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  • Dec 11th, 2019 5:35 pm
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Member
Sep 16, 2017
442 posts
339 upvotes

Expectations on bringing in a client to the firm (public accountant)

What would your expectations be as the junior or as a manager/partner of the junior in a firm where the 1st yr junior year helped bring a substantial client into the firm? billings would be approx 20k, firm size is on the smaller side less than <5 partners.

by expectations i mean in terms of how compensation, rewards, recognition, etc. how would you feel if you did this? if you are on the higher end of the totem pole, how would you treat an employee who has done this?
6 replies
Member
Feb 13, 2017
369 posts
350 upvotes
toronto, ontario
MasterBD wrote: billings would be approx 20k
One time or recurring revenue?

Also is "20k" considered a "substantial client"? Maybe 200k, but 20k?
Member
Sep 16, 2017
442 posts
339 upvotes
PhotoSmurf wrote: One time or recurring revenue?

Also is "20k" considered a "substantial client"? Maybe 200k, but 20k?
it is a small firm, the engagements including all companies will bring in approx 20k-30k in revenue + additional tax work. The revenue would be recurring every year for however long the client stays with the firm.

While i understand that may not be substantial to you and that the firm indeed has a lot bigger clients, this would still be considered substantial based on the engagement in comparison to other engagement prices at the firm. I would say you may be missing the point of the post. Keep in mind, the role of the jr is a staff accountant - not business development.
Member
Feb 13, 2017
369 posts
350 upvotes
toronto, ontario
MasterBD wrote: it is a small firm, the engagements including all companies will bring in approx 20k-30k in revenue + additional tax work. The revenue would be recurring every year for however long the client stays with the firm.
Were you the exclusive rainmaker on this deal? Or did you just provide a simple referral?

If the former AND you are the primary servicer on the account, then 35% to 50% of net annual production is not unreasonable. If the latter, expect anything from 2% to 5% first year production or just a hearty "thank you" from your boss(es).
Member
Sep 16, 2017
442 posts
339 upvotes
PhotoSmurf wrote: Were you the exclusive rainmaker on this deal? Or did you just provide a simple referral?

If the former AND you are the primary servicer on the account, then 35% to 50% of net annual production is not unreasonable. If the latter, expect anything from 2% to 5% first year production or just a hearty "thank you" from your boss(es).
To your first question: I would say in between. I cannot be the exclusive rainmaker - i was not the value add as a jr - but I did more than just provide a simple referral and my network helped with the firm landing the client.

Aside from monetary compensation - how would you also treat the individual? let them work on bigger clients? prioritize professional development? My point is, am I expecting too much? I will also note that this has not been done by any of the current staff in their tenure (seniors and below).
Deal Addict
Feb 19, 2017
1145 posts
879 upvotes
MasterBD wrote: To your first question: I would say in between. I cannot be the exclusive rainmaker - i was not the value add as a jr - but I did more than just provide a simple referral and my network helped with the firm landing the client.

Aside from monetary compensation - how would you also treat the individual? let them work on bigger clients? prioritize professional development? My point is, am I expecting too much? I will also note that this has not been done by any of the current staff in their tenure (seniors and below).
How about none of the above?

As of this moment, you've done it only once, which would translate into a one-time bonus payout of maybe $500-$1,000.

If you show a consistent pattern of helping land clients, then they should be doing their best to fast-track you to partner (assuming you're smart enough to do a decent job on engagements).
Crypo/NFT-enthusiast
Member
Sep 16, 2017
442 posts
339 upvotes
Walch1102 wrote: How about none of the above?

As of this moment, you've done it only once, which would translate into a one-time bonus payout of maybe $500-$1,000.

If you show a consistent pattern of helping land clients, then they should be doing their best to fast-track you to partner (assuming you're smart enough to do a decent job on engagements).
Thank you for the response - like I said, I am not sure if I was expecting to much and wanted to get some insights/feedback based on what others may have gone through. I was not sure what to expect.

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