Hi Everyone My name is Derek
I am desperately needing some guidance, I have been working in a family business for 15 years my father recently passed away and left me 25 % of his members interest and my brother the other 25% who has also has been working in the business for 2 years both of us in key roles he does also have 10 years of corporate background, The other partner has 50% he started the business which has been going for 30 years.
We are now negotiating member remuneration.
We are looking at dividing up the business responsibilities / portfolios equally and my question is should the 3 partners base salary not be the same ? I understand other benefits i.e. dividends, loan accounts etc are to be equity based but how should the base salaries be structured so that's is fair on all 3 parties ?
Thanks in advance to anyone prepared to assist.
Derek
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