Partner One

All else equal, is it easier to become direct admit PP rather than promoted to that role from SM or MD? Seems less obstacles. Thoughts?

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Comes with a catch, at least at PwC. As a direct admit, there’s sort of a probation period before you’re formally admitted into the partnership. You still have to buy in, assume all the responsibilities of a Partner, and get the title, but are a salaried staff. You have to basically prove yourself before you can enjoy the actual long term financial benefits of being a Partner. One of the EY SMs who came in as a direct Partner in PwC explained this to me, when I asked him this question (really humble guy).

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PwC 1 - your perception is 100% incorrect. I was a direct admit. When you come in as a direct admit, you are a full Partner, full stop, not a salary person at all. You are compensated exactly like any other Partner. The probation period you talk about is a clause in the Partnership agreement that gives the firm the ability to more easily let you go if you don’t live up to expectations. This period usually lasts around 3 years at which the firm either decides to drop the clause, extend it, or separate you.

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I could be biased...but, I personally feel laterally hired Partners don’t understand the company culture. Also, I consider such folks as ‘impure blood’ :) I have so much more respect for people who grew all the way in the organization from associate/consultant to Partner level.

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90s alternative

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Yes, and No. Yea, I think it’s easier to come in as a direct admit Partner (I did) but you have to understand, you most likely need to be a Partner at your previous company in order to come in as a direct admit partner. In other words, you’ll most likely not be a Director somewhere and get a Partner promotion by jumping ship. That really doesn’t happen.

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Which firms did they go to?

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Such a slap in the face for the home grown people in the pipeline

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But if pipeline is full, seems direct admit route is easier to navigate with less traffic, no?

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Definitely true for IBM. Especially for practices where leaders are from outside.

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