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Chasefree asks,"so would you say that becoming a partner at a tax firm is akin to becoming a partner at a law firm? Would it require that you be a rainmaker of sorts and be able to command a large client base? Is the tax partner that has more clients and brings in more work paid more? (or is seniority a factor as well)?"
Response: Honestly, it depends on the firm. Generally for the Big 4, ( and the next largest few accounting firms) you don't need to bring in clients,but you better be pretty damn good, not to mention be able to play the political game very well if you want to be a partner.
With other than the top 8-10 firms, you generally need to be both competent and bring in clients if you want to make partner. You certainly don't need to bring in clients when you start of even for a number of years. For the midsize and local firms, they just want you to get your CPA and develop strong competence in what you do. However, at some point, you will be expected to be a "rainmaker" if you want to become a partner.
I should note that some firms will make you a "Principal,"which is a non-voting partner if you are very competent but aren't a rainmaker. It all depends on the firm's culture. However, think about it: would you make someone a full partner if you didn't really need them? Wouldn't bringing in a number of clients give you an incredible clout toward partnerships with any firm?
I should also note that you probably won't need to bring in clients, even at midsized firms, if you have a lot of clients who really like you. Firms might be worried you would take the clients if you have that kind of rapport.
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