Anyone have experience between choosing between an Industry position or making the final push (manager/SM level) for partner? How did you finally decide to go one way or the other and do you have any regrets?

I think I want to try someone new but am having a bit of paralysis in making the move knowing the income/ partner lifestyle that I could be passing up…

Open to any thoughts and advice.

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If you are going to make Partner in the next 2-3 years you will know it. Partner journey is still lot of hours and stress. Find a position in industry get good stocks, make the right investments and have a much better life. I have been told Partner path in 2024 - seen many who were in the pipeline and get thrown out. It’s a great market so I am definitely exploring and would advise the same.

helpfullike

How do you know? Aren’t all sm trying for partner?

Hoping you mean something new not someone new!

I'm in a similar stage, I don't know that I like all that comes with the partner position but I've put in so much time and effort it seems wasteful to leave now. Then again I don't know that I have the support from the partner group that I'd need to actually be admitted as a partner so I need to have those conversations soon. My "manager" (partner) recommended I set up a call with his boss (senior partner in charge of business unit) to discuss.

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I was told I would make partner in 3-4 years if I “kept doing what I was doing” as a newly promoted Sr Manager. I felt very valuable to the firm (midsize firm) but was worried we didn’t have enough clients. So even though my clients were the biggest revenue sources for the firm and I was the main point of contact for the clients, I felt like if we lost one or two of my clients for whatever reason that it would destroy my chances of making partner and ultimately the practice as a whole. Long term I didn’t think there were enough smart people to learn from and I found myself cleaning up other peoples messes. I didn’t want to make a career of that so I took a role in an upcoming PE shop. I think my pay has outpaced where I would have been if I stayed (even if I made partner), and I work with people who are extremely smart/talented in their respective fields. I think everyone’s path is different so you just have to weigh the pros cons and see what’s most important to you.

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I am a new sm. How do you know if your in the pipeline for partner? When or how does that conversation start? And I guess I’m scared of saying yes I want to be partner and the firm just taking me for a ride

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