What role usually receives a salary in a partnership?

In a partnership, the managing partner typically receives a salary as they are actively involved in the day-to-day operations and management of the business. This role entails overseeing the business’s activities, making executive decisions, and handling the practical aspects of running the partnership, which justifies compensation for their time and effort.

In contrast, other types of partners, such as general partners, limited partners, and silent partners, often do not receive a salary. General partners might take distributions from profits or reinvestment of earnings rather than a fixed salary since they share in the management responsibilities as well. Limited partners usually provide capital and have a more passive role, not actively involving themselves in management, thus not commonly receiving a salary. Silent partners also invest in the business but do not participate in its management, leading to a similar situation where they do not typically earn a salary.

The distinction lies in the level of involvement in management and operations, making the role of the managing partner unique in this aspect of compensation.