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Mentor
I shake my head at how often this question comes up.
You’ve been assessed by folks who know you as being two years away from Partner. Assessed by people who both know you and what being a partner requires. People who are actually doing the job and have done so for a long time. People who at one point were at your current skill set and achievement level. People with a credible perspective.
And yet somehow you think you can be a successful Partner at a place where you don’t have a brand. network and have never done the job with presumably less resources and brand than Deloitte.
Which indicates you don’t know what the job is. Which indicates that the people who say you aren’t ready yet are right. It’s the profile of a person bewitched by the title and influenced by the “How much do Partners make” porn on this app.
You don’t want to be a Partner. You want to be a Successful Partner. Especially at a place like Deloitte where being a successful partner is meaningful. But if you’re worried that you’re not going to make Partner, I’d spend some time unpacking that. Whatever areas of growth exist today won’t magically manifest themselves with a move.
You’ve got the “Bird in the hand” thing wrong. The bird in the hand is where you’re at. I’d trust the folks who’ve known you for years over a couple of hours of interviews.
Wow that’s the most B4 Partner response ever.
Only a successful career as a partner would be “meaningful” at a B4. Just wow.
P4 makes a good point. Understanding who you’re getting the 1-2 year away feedback from as well as who else is in n that same position in your geo/practice area is important. It’s easy to give the “1-2 year” speech to solid SMs, but the truth is it’s hard to tell what the numbers will look like in two years. And most of us partners don’t have that much authority to push our fav SM ahead of others.
Do pick a firm where you can work with similar clients where your network, experience and expertise developed at Deloitte will be relevant and where you can continue to expand upon it. Do pick a firm with partners that you want to be partners with, somewhere you will be a meaningful contributor, not where they think you need them to be meaningful.
I wouldn’t do it unless things are falling apart where you are at
Rebuilding the network internally and in the market is no joke
If this would be the case every direct admit would fail. Clearly that is not the case. Take a leap of faith and go for it. You will have to slog, but how is that any different from what you are going to be doing for next two years before they either consider you or throw you out to wolves
What is this supposed “failure rate”? I’m quite sure there is no data available on that. What I do know is that “2 years” often turns in to 3-4 or never. From experience “two years” is close enough to keep you focused but far enough to be non-comital.
If you are thinking about it, you know it’s a tempting enough deal. A bird in hand is always better than two in the bush. If you are that good (which I think you are), then building a network won’t be that difficult unless you join a cutthroat firm.
Arguments for:
1) A bird in hand …
2) Most direct admits will get a couple of years of runway.
Argument against:
1) Find new clients (non-compete)
2) Rebuild pyramid
3) Rebuild hunting pack
Can you negotiate your deal(s) to get some protection for the arguments against?
No real enforceable non-compete for employees. From memory of being SM a long time ago there is probably a non-solicitation of your current clients and staff.
Advice is be cool with the firm you are leaving. Appreciate the advice you are getting from mentors there, but stay firm on your plan, and offer a chance to be a referral partner in the future. So don’t go after your current clients for work your current firm does, instead speak highly of the firm you are leaving and the partners you worked for and look for work for your new firm that your previous firm isn’t already doing with those clients. (Even if a different department that where you are at it will still be appreciated and buy you grace w new firm and new partners). With independence rules and different market segments the opportunity to cross-refer work with your previous firm is probably greater than your chance to beat them out to be honest. Unless of course you go B4 to B4, in that case I might be a little more aggressive cuz they probably are not going to recommend you anyway.
Direct admit here and made the jump as a SM from one big 4 to another. It was tough to leave the network, team and senior relationships. However, best move of my life, in retrospective and I experienced a tremendous amount of growth in a short time.
Pros - new experiences, more prestige, more $, new team members, ability to do what I want and opportunity to redefine myself and brand.
Cons - lots to learn about the new firm, new set of internal politics, building leverage is harder, you feel the need to prove to others constantly, other SMs don’t like you as you are seen as taking peoples place.
Ultimately it comes down to who you are and how much you are willing to hustle.
Are the offers at comparable sized firms?Nothing is guaranteed in 1-2 years. Bird in hand, take a chance and bet on yourself assuming you feel ok about the growth prospects of the other firms.
Agreed! If it was a comparable firm
I’d leave as well
P2 makes great points but there could be more to this… there are many SMs at Deloitte who believe they are “1-2 years before PPMD”, and it matters whether it is PP or MD. At this point, if not locked in on a path or a date it could very well be much longer than 1-2 years, and certainly not 1. Going through the process formally is a victory lap at Deloitte, not a hope for the best a year or two out. OP should carefully assess readiness, timing, BoB, and sponsorship.
Rarely do SMs in B4 get direct admit offers at other comparable firms so something seems off. Are you taking a step down in firm (ie going to witch or mid market)?
Mentor
This is what I was getting at with the brand and resources comment. My assumption is that they’re looking at some boutiques. Should have been explicit.
You are not 1 year away lol
You are one of the only SMs I’ve heard of who have moved to another Big 4 as a Partner! Glad it worked out for you!
Having this same dilemma
Agreed
Following.
I would stay. Direct admits have a low success rate. No saying it can’t be done, but I would stay where I’m known, have a strong network, know the culture, and know the health and trajectory of the business.
Enthusiast
Can you clarify what you mean and define the criteria of your statement that direct admits have a low success rates?
Off to the new form I’d go. You miss 100% f the chances you don’t take. No guarantee that you’ll get admitted where you’re at. If you don’t last long at the new place, the. Go somewhere a couple years later as a direct admit again and learn from your past to be successful the second time around.