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What is a compensation partner?

As a Compensation Business Partner, youre in charge of maintaining competitive compensation for the people passionate about excellent customer service and support that encourages repeat visits and expands market share. The Compensation Business Partner will help lead the development of Global Compensation programs.

What is meant by compensation partner?

Partner Compensation means amounts owed by COMPANY to Partners pursuant to Partner Contracts, which COMPANY remits to IMPACT to pass-through payment to Partners.

How do partners get compensated?

Like sole proprietors, partners dont get paid via a regular salary but rather earn distributions of the business profits. These dividends are generally set out in the partnership agreement (if they arent, you may want to think about drawing up a partnership agreement that outlines distributive shares).

How does a 60/40 partnership work?

You and your partner must agree on how you will share the profits and losses of the company. You may choose to be 50 percent partners, or perhaps your partner wants less responsibility and you choose a 60/40 split. The partnerships profits and losses will be allocated based on your ownership percentages.

How are partners compensated in a partnership?

Partners do not receive a salary from the partnership. Rather, the partners are compensated by withdrawing funds from partnership earnings. Partnerships are flow-through tax entities. As such, any profits or losses produced by the partnership pass through to the partners.

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