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BNY Mellon technology specific questions -
#0 How much max salary for grade K ?
#1 How long does it take to promote in bny from grade K to L ?
#2 Any specific criteria for promotion? Expr , certification etc...?
#3 How much % hike to expect post promotion ?
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Depends on the firm. Many have two separate paths - partner or director - both from SM. Others have director as a level before partner.
If you get promoted to director that means you have potential for partner and this is your evaluation period.
Some firms use it both ways. Some people max out at director (many by choice), some use it as a stepping stone even though it is possible to bypass altogether.
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It depends. At EY MD is usually an end path while at pwc I heard its sm>director>partner
At Deloitte it was a fork on the road decision. Very few went from director to partner. And partner to director is not a good sign
Crowe does both Director to Partner and Sr Mgr to Partner.
BDO assurance you have to be director first before you can become principal
Most firms principal is the point where you don’t make partner but many firms have changed that in some of the “new models”
The naming conventions at firms are all very different, so you won’t get consensus on your question. For example, we don’t have a “Director” rank at EY. Instead, you’d just stay at the Sr Manager rank for 5-7 years then get promoted to either Partner or Managing Director. In contrast, at PwC the Sr Manager time in rank is shorter than at EY, but they interpose the Director rank before a Partner / Managing Director promotion so it winds up being similar number of years.
Are you asking though if you can go from Managing Director (the non-equity partner equivalent) to Partner (equity)? If so, you can but it’s not very typical (at least at EY).
EY 2 is spot on with respect to PwC. Director here is on the path to Partner.
Depends on both the firm and the team - some you need to go via director
Used to, Executive Director or Managing Director was the end of that person’s promotion progression. Now, things are starting to change at EY and I suspect that we will see more and more MDs progress to partner. It’s also not always about how leadership views a person. Some SMs, myself included, aren’t interested yet in partner and want MD instead of partner. There are also some groups where MDs are specialized and will always be MDs. Basically, EY is in a period of the roles evolving.