What does it mean to make partner in Big 4 accounting firm?
It means you've made it. You've probably spent at least 8 to 10 yrs in the firm moving up thru the ranks to Manager, Senior Manager, and then you get admitted to partnership, sometimes after paying a certain sum as equity. As a partner, you can sign audit reports. And you get the thrill of seeing "Partner" next to your name on your business card. You may start off as a salaried partner where you earn a salary and a bonus, but you don't get to see the firm's a/cs and you don't get share of profit. After maybe a yr or 2 when you've proven yourself, you may become a full equity partner where you participate in decision-making and you get share of profit.
Partners are not only the senior managers at the firm, but they also have an equity interest in the company and receive a portion of the earnings that are distributed.
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