2024 US Professional Services Partner Compensation Survey

This report presents the findings of the 2024 US Professional Services Partner Compensation Survey, which focuses on the compensation structures, role expectations, and organizational data of professional services partners in the United States. Conducted by Heidrick & Struggles, the survey gathered self-reported data from 187 partners across various firms. Key findings indicate a notable increase in partner turnover compared to previous years, with 49% of respondents reporting higher turnover rates. The report also highlights that firms are facing challenges in retaining talent without offering significant compensation premiums. The average total cash compensation for partners in 2023 was reported at $672,000, with strategy consulting firms offering the highest compensation. The survey outlines the correlation between personal revenue targets and firm size, as well as tenure, indicating that longer-tenured partners tend to have higher revenue targets. The findings reflect the current state of the professional services industry amid economic uncertainties.