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It is possible. I’ve seen people convert. Doesn’t happen often; most commonly with direct admits.
EY1 - moving from MD in one firm to partner - at an equivalent firm - is also unlikely. The criteria for making partner at B4 firms is fairly similar, you might be hired laterally with the option to promote - but again only likely to happen within first 2/3 years
Happens at Deloitte
At D the only two SAP partners this year were MD converts
Do note there’s a noted focus on defining what it means to be “partner.” You must be multi faceted and not just someone who can hit sales numbers and deliver work. Got to be a pie expander, got to build and lead our culture, etc. we’re seeing more and more MDs created vs past years because of it
Just saying that the standard to be a partner is continually getting higher so giving you a fair warning that it’ll be a tough climb even starting from MD
Please do not have unrealistic expectations. Even though an MD (direct admit only) can get promoted to Partner, it is very uncommon. So don't count on it unless there is some sort of strong understanding before you join. If you get promoted internally to MD, you never get promoted to Partner.