Hiring in the top ranks of tax partners remain dominated by men according to an analysis of recruiting patterns around the world prepared by executive search specialist Wilkinson Partners
The review of the top 100 partner hires globally in 2017 shows that 78% of the movers were male, up from 70% in 2016.
Although partners who made a switch saw their salary increase by an average of 24%, better renumeration was only cited at number six on the list of reasons for changing roles.
Overall, tax partners are looking first for career progression, cited by 52%, followed by company culture (52%), platform (29%), promotion (29%) and an improved client base (26%).
While career progression was the most critical consideration for men (61%), women were more concerned about company culture (50%).
Looking at the UK specifically, a better work/life balance was cited as a reason for moving by a fifth of respondents, the majority of whom were women. Getting an increase in renumeration was placed eight, with only male respondents viewing this as a key motive for leaving.
In the UK the majority of lateral hires were male and just over half went to accountancy firms. However, out of all jurisdictions, the UK saw the highest proportion of female partner moves at 31%.
Nearly all (92%) of moves were in the London, with the remaining 8% in Birmingham, while in 85% of instances the partner worked in corporate tax.
Compared to the rest of the world, the UK had the highest percentage of lateral hires within Big Four firms, with 38% moving from one to another of the firms.
In the US, six times the number of tax partners moved from law firms to the Big Four, whereas in the UK double the number of partners went from Big Four firms to legal practices.
Tom Wilkinson, managing partner of Wilkinson Partners, said: ‘Gender and diversity have been a significant topic on the agenda of professional services firms over the last few years. Despite this focus, it is disappointing that our findings demonstrate the gender gap when hiring lateral partners has widened in 2017 compared to the results from our 2016 report.
‘It is interesting to see the drivers and motivations for partners leaving firms. The most prominent reason for female partners moving was down to company culture whereas for male partners it was career progression.’
