What is the difference between a ‘salaried partner and any other sort of partner?
A salaried partner receives a fixed amount of money from the practice each month, rather than a share of the profits of the partnership. But as a partner rather than an employee, s/he may be able to contribute more to the strategic decision-making within the practice. Other types of partner receive either an equal share of the profits of the practice, or an agreed proportion of the profits – for example, the agreed share may be less than an equal share if the partner works part-time rather than full-time – as set out in the partnership agreement.
