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I am a lifer here. We have had a lot of successful direct admits at all levels who brought niche skills, delivery expertise and commercial acumen/leadership. Including the ones from 2020-22. Some are growing very well both personally and driving the firm forward. Of course there are some challenged examples too driven by how they came in (level of clear business case, sponsorship etc), how they showed up with peers and staff etc. and how they were supported.
#itdepends
I was a direct admit into the SAP group (IPS). It was the single worst culture and worst group of people I have ever worked with in my career. Most of the other Partners I worked with I still hope die in a fire.
I cannot speak poorly enough about the individuals (with a few exception) I encountered there. Left within a year.
I don’t know about 1 in 10 but there is a steady stream of partner exits. Just know that the single source of how you are measured is revenue. And every partner in the firm understands this so internal competition is intense. I have seen many direct admits leave and have never seen the sponsoring group take ownership of their success or failure.
I think they mean Alix Partners
Direct admit here with about 15 years in. Hasn’t always been busy and the failure rate is relatively high. I’d say everything depends on your area of expertise and market and how confident you are in achieving your revenue target. Don’t expect much grace if you are coming up short.
Their current chairman was a direct admit. Must have worked for him!
1 in 10? If that’s really the success rate, why is PwC bringing in any external talent?
Left there as Director. I know they hired a bunch of catalyst Partners around 2018 or so and they all left. One other guy was direct admit in my group - he said himself it was tough but he ended up finding his tribe.
Unless you lead a niche area with high demand, think it will be tough.
Run
I have hired multiple direct admit partners in the last 5 years. Each I have had 6-8 partners commit to helping them land their first year to get through their non-compete. Those that built relationships and had a plan to build their pyramid/team have been successful.
Hardest thing is to rebuild your relationships and your team. I would say roughly 20-30% of direct admits do get withdrawn / let go