Recently, accounting firm KPMG promoted 27 senior executives to the position of partner. Come September, the firm is likely to promote a similar number as partners. KPMG has also created a separate HR vertical devoted entirely to partners. In the past two years, PWC has poached many mid-level executives from competitors and made them partners along with a bunch of senior directors in its ranks. KPMG and PWC are not alone. The number of partners in the Big Four accounting firms — the others are Deloitte and EY — has nearly doubled to about 1,150 in five years. There is a catch though. Several of the executives who have been promoted are just partners in name. They are actually salaried...
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