Key Points
The uncertainty increased after a partner call on Wednesday led by Julie Boland, chair of EY US and Americas region, in which she said the agreement needed to be revised..
ImagesEY insiders say the India partnership had negotiated a much better deal than other regions...
EY India's partners are faced with uncertainty and potential delays regarding the consulting-audit separation as they await additional information from headquarters on the revised terms of the split and its potential impact on the guaranteed payouts...
This news comes days after EY India doled out large salary hikes (30%-plus) to its partners after a bumper fiscal 2022 in which the firm (including all member entities) touched 8,450 crore in revenue, driven largely by its business advisory business...
As part of the consulting-audit separation deal, the Indian advisory partners were to receive 10-12 times their annual earnings in stocks after listing and the audit partners were promised up to four times their annual compensation..
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