Curious what others think and feel about the current senior executive ranks in US (clients and consulting firms). Feels way out of balance with way too many late career boomers not retiring and not providing the value commiserate with their salaries. Feels like quality and meritocracy is dead and we need a new generation of senior leaders to shepherd in the AI generations.

likefunny
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likefunnysmarthelpful

And anyone from a university always takes themselves too seriously because they clearly stuck their graduation caps up their elitist butts

Agreed with old people taking up space at the top and being dead weight just because they don’t want to retire and spend time with their family.

likefunny

My guess is those “old people” have not saved enough to retire. If given the option, I think 99% of people would choose not to work over working.

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I'd be very happy to retire today and spend time with my family. Unfortunately, my pension plan says otherwise.

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Mc&Co - I have no net worth target. My target retirement is based upon getting full years of service necessary to max out my pension years component. Leaving sooner when I am so close to maxing out seems foolish. Also, there are other familial responsibilities that don't allow me to fully do the things I want to do in retirement much earlier than my current planned retirement date.

It has always been that there is a certain % of later stage older partners realize their mortality and turn down their intensity. They spent all those years working hard to build the firm and get where they are. They are trying to balance work and life and not grind themselves into the ground. It’s also hard to leave a great paying career that you invested your entire life to achieve. If they become driftwood, the firms usually let them go. The firms need both young guns and the seasoned senior partners.

likesmart

It probably depends on your firm and the service line. I’ve seen a lot of driftwood come and go. I’ve had to let partners go. I’ve also seen good people go out at the top of their game under their own power.

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Meritocracy has long been dead, if it ever really were the predominant driver of climbing the corporate ladder.

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lol. It’s never been relevant at the more senior levels. It’s who you know. Always has been and always will be.

A lot of people on this platform are going to be working until they die or can’t work anymore. They might not be a partner at a consulting firm or a senior executive at some company. But I bet they will be doing something to earn extra cash. My grandfather retired with $4M in the bank in 1980. By 1997 my grandmother had to move into my mom’s place because the money was gone becuase of all his health issues at end of life.

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Do partners know each other’s compensation? I see partners selling engagements for vastly different numbers b/w shorter ‘interesting’ strategy work and longer ‘boring’ transformations. Thoughts?

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Post Photo
likefunnyuplifting

Anyone invest in franchises and in particular has anyone used a company called FranChoice to help you match w a franchise?

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likehelpfulfunny

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