Im a Director at PwC in year 1 - current comp is 200k base - not sure what bonus will be. Firm is telling me I have a sure shot at Partner in 18 months. I have an industry offer in hand for TC ~400k. Do I take it? Or wait it out? I think if I stay and things go according to plan - I’ll be financially better off in 10 years. But if I leave, for sure ill be better off over the next 5 years. But there are a lot stars that have to align and things to go right and of course- I need to get lucky.

likehelpful
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Have a chance at partner is code for "it's possible but very unlikely"

Partners started getting groomed for the process 2-4 years out

But let's take a look at this from a different angle....partner means you are an owner. Do you want to do this for the rest of your life? From what I remember....the pwc partnership pays off well.....but it's not that great until the last few years of your life. I think it takes about 10 years of partner until you really start to do well.

Also.....depending on how you invest. A 400k industry job could equal more money when you take into account the hours you will work and the freedom you will have when it comes to investment options (fyi...pwc limits which companies you can buy stock in)

likesmart

Listen to what PwC11 says. I was also that Director but a woman.

Take the Exit now. It's so much harder to get when you're 10 years older.

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Exit and come back if they take you as a direct admit partner.

400K- thats very nice.

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100% echo D1 and P5. Take the exit and consider coming back when they offer you option to come back as direct admit partner. 18 months is unheard of and I’ve seen several directors make the mistake of sticking it out for the dangling carrot (told 2 years to Partner and it ended up being closer to 5 years). Good luck OP

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Someone is lying to you. You can’t hit partner that fast.

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I didn’t realize you were in Canada. I’m not sure of the process for partner admissions in Canada or what PCLDE looks like there or if that program even exists in Canada.

400k in hand > unenforceable suggestion you might get partner in 18 months

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Exit. The payout is guaranteed

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I was evaluating this recently and decided on industry offer. My rationale was that there was no guarantee I’d make partner, I’d have to crush the next 4 years, making less mo way than industry offer, and then I’d have to live a partner lifestyle that seems like full days of work plus evening client entertainment. I don’t think my marriage is strong enough to sustain that and I have little kids.

likesmartuplifting

Smart person, priorities straight

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Sorry to say if you aren’t in pclde it’s still 3 years after you get in. There are exceptions but far and few. Are you getting 2x manager revenue numbers ?

likesmart

I’ll make my targets this year but definitely not 2x managed revenue

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400k take it and invest you’ll probably be ahead in long run. If company A is offering you 400k you can probably leave for company X for 600k in a couple years

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curios, what’s the exit? industry/role?

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Don't be.

Anything above SM in tech consulting means getting involved with sales and business development.

Unfortunately.

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Agree with a lot of comments here , I’m biased towards industry offer, did the same transition while back. Just couple more things to consider is what kind of life you want and how much money you truly need? I personally don’t care about more money after I reach 500k and have a decent work life balance. But if you truly need 1M+ chances of that happening (and faster) is more in consulting that would be the only reason to stick it out.

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Agree. Also people should consider their spouse — if you’re both working making $200k+ why go for much more? That should cover a very nice life and keep hours reasonably low

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I can tell you that they tell every director they’re on partner track. That’s how they recruit and retain. And unless you’re in a certain stage of PCLDE, then there’s no possible way it would be in 1 year, 18 months, or whatever they’re telling you.

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Bird in the hand

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Exit. You could make way beyond that in industry.

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EXIT EXIT EXIT

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A Bird in the Hand is Worth Two in the Bush

likehelpful

Are you in PCLDE? It’s a 3 year program and you can’t get in the program as a first year Director. Either you have a very special skill set or someone is blowing smoke up your ass about 18 months.

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Oh yeah, take the industry offer. You aren’t near partner yet.

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Let us leave money aside,

As a partner, you will have to bring in new business. Your job will involve relationship building at the and client executive level and sell mid to high end consulting services. You will have to meet revenue targets on a sustainable basis. Also, not all partners make it big. Many partners just do okay and don't strike big.

As a tech leader in a financial services company, your role will be to build products and grow the company.

I would recommend making your decision based on where you see yourself long term. The seed that you plant today is what you will reap tomorrow.

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Sometimes I wonder , will those opportunities never ever cross paths . Those partner hires do happen laterally too. Then why bother .. live in the moment , do what’s best for one in immediate future and not 18-24 months . Things are so dynamic .. not even sure who would be around in what shape ..

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Yeah my goal is to to become a director in 2 years and than start looking for an industry Role. I work in deals so that work might not be sustainable long term and my marriage prob can’t handle it.

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What's your YOE?

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I think with that experience, you’re easily set for a direct entry partnership in the future. I’d take the money and go for the industry gig

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