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Mentor
If you’re at PwC, your comp basically doubles in your first 5 years as partner… I think you vastly underestimate the hike over existing pay.
That's the precise thing. Double in first 5 years. 30 to 40% more in next 6 years. Then you get something additional for every box you move.
I think if you left in your 2/3rd year it’s likely because you don’t like the job, not necessarily because of the ladder issue
How about “because I got an amazing opportunity elsewhere”? Most of the people I know who left early on left because of that.
Mentor
Yeah… the “no great hike” part here is wrong at every firm of which I’m aware.
The exact trajectories and levels vary a lot from place to place, but it really doesn’t feel like climbing another ladder to just about anybody I know at partnership levels.
Mentor
Nope
I have 2 family friends who were both big 4 partners(audit) that both left as a partner, new partner for one individual and 3-4 years as a partner tenure for the other. Both ended up climbing the ladder significantly in their industry role. Both made it to CFO and one even ended up as a CEO. Both companies are large fortune 100 household names and from a comp perspective, they made more than what was possible at any level of their respective firms. Clearly these are not the norm, but does show that it’s possible. The caveat is that partners in the audit practices can be made earlier than in consulting typically and both of these individuals were unusually talented.
So basically you posted an aberration with a lower probability than a lottery ticket.
Mentor
My comp went from low 400s to over $2M in something like 5-6 years. Leaving soon after making partner would not have been a great choice.
The ladder becomes a rocket ship.
Mentor
PwC1: yes. It happens.
That doesn’t mean it happens out of the blue. In each case where I was involved in something like that (not too many over the course of my career), one of the core problems was that the person lacked basic self awareness. So any reasonable observer of the situation would not have been anything close to surprised, but that doesn’t take away from the real pain that the person feels upon learning they’ve been let go.
OP, can you share why you think there’s not a ladder in corporate? As said elsewhere, no one is coming for your job here. Not the case in corporate if you’re entering as a third year partner. You’re the center of the bullseye.