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Not an opposing view from me, but a little twist perhaps. We all need to find the capacity for reinvention to avoid stagnation, we also need to do so with an eye toward what we value. You can seek out that reinvention within your firm, you can take this new role, or you could retire now and seek it out in what you do outside of these options. But if you take this role it is also a lot of responsibility, 2000 people are depending on you. So do it because the challenge it is offering you is in line with what you will find invigorating.
If you don’t take this opportunity use the security and trust you have within your firm to create a role that helps you with the itch you clearly want to scratch right now.
Might I just add, somewhat unrelated, that how awesome fishbowl is? A partner can confide in a group of unknown people, and receive purposeful advice from multiple peers across levels, and advice from fellow partners.
And shows more junior consultants that even Partners are still just figuring out life
^ that is my wife’s point of view as well and she is usually right.
Go for it! Our business is undergoing transformation and now would be a good time to venture out for a vested partner. Besides, PE role will give you better opportunities long term. Just be nice to firms when they try to sell you stuff :-)
To answer some of the questions...
- 12 years to mandatory requirement
- I would make less at the venture but cash in on the IPO ... but I could retire tomorrow
- I am a high performing partner who has been doing it for nearly 30 years so when I say a sure thing, I do feel very secure
- All that said, damn 30 years is a long time to do the same thing. A change might be welcome!
If you can retire now, then why not take the risk? If you don’t like it you can find another opportunity. You’ve worked your ass off, now reap the rewards and go play for awhile!
Nicely said PwC 5. There is not how to guide for life, we all just have to figure it out as best we can. Meeting with the PE next week.
In board discussions at this point .
I’ll also make an observation: The way you phrased the question and replied to answers suggests to me that you want to do it and in some sense know it’s the right thing but are afraid to make the leap and are looking for reassurance, which you got from this group in spades. So question: what’s your fear? If it is economic, I don’t think that’s relevant given your situation. If it is giving up on something you can’t go back on and that is familiar, I understand where you’re coming from — I’m quite attached to my firm and can’t imagine leaving any time soon. But I’m also certain I could find another job I loved as much given the economic security you currently enjoy.
Personally, I would only do it if I really believed in the success of the company ;)
I'd never describe consulting as a sure thing. Quite the opposite. I think I'd go for it. Nothing lost in exploring it further.
Oh, and empty nester means my kids are all grown up and out of the house!
Nope. The way my firm works, once you decide to retire it is for good.
At this point I am assuming $ do not make a difference. If you get equity in new role then you have very high upside. You can always join a different firm at partner level.
I would say take a call based on work, role, and your 5-10 year plan.
^ P1 you’re my soulmate :)
Not sure. They have a great concept but we’ve all seen a lot of great concepts come and go.
Do it. You don’t need the money. Go take the interesting opportunity
I’m not a partner, far from it in fact, but it seems you are in a position of low risk, high reward from my POV
Since when is 2000 people an “only”? That’s a very big company
Would you be able to boomerang if it doesn’t work out?