This page will help you clearly define each employee’s job level.
Where you feel that more than one Job Level Description may apply to your employee, make your selection by giving the greatest weight to responsibilities.
EXPERIENCE
Typically 0 – 2 yrs of full time work experience.
Typically has as a minimum an undergraduate degree in accounting, finance or economics, but could also have an MBA or other advanced degree.
KNOWLEDGE
Learning fundamental BV terminology, concepts, practices and procedures along with how to conduct BV related research and apply common BV methodologies efficiently.
Would typically participate in professional society training and testing programs.
RESPONSIBILITIES
Using established procedures and working under immediate supervision, performs assigned tasks, including entering financial data into spreadsheet models, researching economic data, researching industry data.
Work is routine and instructions are usually detailed.
Little originality or ingenuity is required.
USUALLY REPORTS TO
Level 3 or Level 4 BV Professional
EXPERIENCE
Typically 2 – 5 yrs BV experience.
Similar academic credentials as Level 1 BV Professional.
KNOWLEDGE
Knows and applies the fundamental accounting, finance and BV concepts, practices and procedures competently. Can use and apply the firm’s internal models and templates efficiently, including being able to make modifications. Would typically complete (or be nearing completion of) candidate requirements for appropriate professional society.
RESPONSIBILITIES
Under supervision, performs work that is varied and that may be somewhat difficult in character, but usually involves limited responsibility. May have some client contact primarily for the purpose of data collection.
Under supervision, makes engagement-specific changes to firm’s standard model(s). Typically prepares the first draft of the engagement reports.
Some originality or ingenuity is required.
USUALLY REPORTS TO
Level 3 or Level 4 BV Professional
EXPERIENCE
Typically 5 – 8 yrs BV experience.
Typically has achieved one or more credentials from chosen professional society.
KNOWLEDGE
Capable of conducting and completing most appraisal assignments with a minimum of supervision. This position is typically the first step in the firm’s management ladder (i.e., all competent staff members would typically reach this level after 4 – 6 years of full time BV experience).
Similar academic credentials as Level 1 BV Professional.
Possesses and applies a broad knowledge of accounting, finance, economic and BV-specific principles, practices, and procedures in the completion of moderately difficult assignments.
Most likely has completed testing/credentialing requirements of chosen professional society.
Spends majority of time completing engagements as well as supervising engagement progress, addressing technical and/or data collection related problems and issues.
RESPONSIBILITIES
Usually works with minimum supervision, conferring with superior on technical and engagement management matters.
May be assisted by Consultant or Senior Consultant.
Assignments are broad in nature, usually requiring originality and ingenuity.
Makes complex, engagement-specific changes to firm’s standard model(s). Typically edits report in preparation for final review.
Has some contact with existing clients, typically for data collection and engagement coordination purposes. Business development typically required for advancement to next level.
Has appreciable latitude for un-reviewed engagement related actions or decisions needed to move engagement along.. Often signs as supporting appraiser and sometimes as primary appraiser for purposes of appraisal certificate.
USUALLY REPORTS TO
Level 4 BV Professsional or Partner / Owner
EXPERIENCE
Typically 8+ yrs of BV experience.
Partner or Owner of the firm/office is typically the next higher level.
Similar academic credentials as Level 1 BV Professional.
KNOWLEDGE
Possesses and applies comprehensive knowledge of accounting, finance, economics and BV in the completion of complex assignments.
Spends some time supervising engagements and addressing technical and/or data collection related problems.
Frequently develops the firm’s approved methodology, valuation models and report templates for new, unique or complex BV issues.
RESPONSIBILITIES
Typically under loose supervision of Partner/Owner, plans, conducts and supervises engagement work flow. Plans and assigns personnel for given projects or tasks. Typically responsible for reviewing engagement progress and conducting technical reviews. Frequently signs as the appraiser for purposes of appraisal certificate. Frequently conducts the final review for typical/common engagements and sometimes signs the reports on behalf of firm.
Often designated as an expert witness for litigation related engagements in lieu of Partner / Owner.
Typically authorized to quote and negotiate engagement fees. Spends a material amount of time servicing existing clients. Calls on new clients from time to time, but not typically responsible for new client development.
Assists with the review and evaluation of personnel performance.
Interprets and applies organization policy. Recommends changes in procedures. Operates with substantial latitude for un-reviewed actions or decisions. Works closely with Partner/Owner relating to overall practice management issues.
USUALLY REPORTS TO
Partner / Owner
