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US:
SM -> P
SM -> MD
SM -> MD -> P
Europe:
SM -> D -> non-equity P -> equity P
The 3rd option (SM>MD>P) is not an actual step in the career ladder. It’s very rare an MD would convert to P. There is a reason they chose the MD path vs P.
A lot of paths from SM to PPMD pass through MD now
No, MD isn’t an interim step. SM2 is correct. Some conversions happen, in both directions, but is driven more by role, path, personal circumstances
Yes, in US.
Chief
Is there any level in between.
No…