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If you are a partner then you don’t have a contractual work week. You’re a partner. You work the hours or days you need to deliver results. If that’s 7 days, 5 days or 3 days that’s your prerogative. You own part of the business.
Output matters but so does perception, which seems to limit the vacation and 2 day week opportunities. Depends on the firm’s structure, but around here it seems like there’s always a full plate even if your numbers are already locked in for the year well in advance of year end.
Mentor
It is possible in two ways
Easy way : You manage your time wisely and take say Friday off most weeks . You don’t announce it widely and you don’t mind working the occasional Friday or weekend
Harder way : you tell the firm you can only work 4 days . Accept slightly lower comp and slightly lower target .
Most of us after being partners a long time can do option 1 without sweating . Those in client leadership roles can do it earlier in their Partner tenure compared to those in service lines
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Answer worth a million $
Mentor
I’m going to go with a big fat no in the US for a big firm. Yes there’s tremendous amount of flexibility but to have a set schedule like that is near impossible in my opinion.
I actually just learned a partner I know does this - Thursdays can be long!
Realize this is uncommon, but in Europe working parttime is normal. This is the case especially for young parents, more so for woman. If it’s not possible how do you think we’ll get more female partners? And are you not worried that newer generations value WLB more?
Also super common in Australia/NZ. Loads of Partners have their day or two "out" but are accessible in absolutely needed.
Oh, and we all shut down from noon on Friday when they crack open the beer and wine.
As long as you hit your metrics you can work a day a week for a year. Then the partnership sees your potential, quadruples your metrics next year and throws more money at you.
The 3-12-90 person at pwc must have unique skills that are in demand. You can always set up,flexible arrangements….question is can they really work. Partners are expected to be available at all times by clients…but also have ability to dictate non client demand schedule. Issue is a set flexible schedule inevitably means they are not available when needed….and the more days”off” the more it’s an issue. I think all firms will say you can do these….it’s never as easy as turning off email two days a week…and how can you manage it and will people value you so much they will go without any response for two days to talk to,you….or just hire another firm.
If someone was looking for you late Tuesday night…and didn’t hear back til Thursday morning…that’s two days…again not saying it can’t work just saying it’s hard to say theee days a week can be a 90 percent schedule
I try to take my Friday “off” or finish my noon.
Yes - I work 4 days a week. Have done so officially since my first child was born, and I know other partners in my firm who do similar part-time arrangements.
My total comp is based on combination of sales and other management objectives. If I hit them, it doesn’t matter if I do it working 7 days a week or 3-4 days a week.
The only difference is that my monthly salary is pro-rated to 80% but I get the rest back through higher bonuses if I hit my objectives.
I take Mondays off and tell my teams and clients that. I may take an occasional Monday call if urgent, but so far have managed to avoid doing it more than once or twice a month. I also try to maintain reasonable working hours for the rest of the week 9am-6pm, with occasional late nights. No weekend work.
It’s been a year and so far have kept it that way. Total comp-wise I’m still in the top quartile for partners in my firm globally so I’m ok with that.
Curious of the partners that are working reduced days, does this equate to reduced hours? Or is it cramming 40+ hours into a shorter week?
A1 I meant more like 40+ hours in like 2-3 days...
Ok boomer!
And I’m a boomer. Lol.
This is such old school thinking not to mention incorrect. Just because you own part of a business doesn’t mean you can’t work part time.
One of the partners I work with stops at noon on Fridays.
At many times during year I block my calendar Friday afternoons and it’s surprisingly rarely an issue. Pre and post Covid.
I doubt you can successfully deliver and hit your metrics on a 4-day a week schedule, I don’t think I’ve ever met a partner that works less than 7-8 days crammed into 5 days (~12hr days)..
Mentor
We have some partners who have 4-day schedules.
Yes, know several Deloitte consulting partners in the UK who work 4 dpw.
I’ve been interviewing people at pwc that are on FWA, as I was thinking of going on one. I met 2 partners on them. One does 3 12 hour days at 90% comp, the other does 4 days at 80%. I think it’s the secret to living into your pwc retirement!!
No, I would say it isn’t possible unless you are able to fit 5 or 6 days of work into 4 days and still hit targets.
Curious if partners on a reduced schedule have a commensurate lower sales target. Any data points?
I’d never feel comfortable not working when my team is working. This is a service leadership profession if done well
Couldn’t this be the wave of the future? I don’t think people want to kill themselves at a job anymore, and some of our firms rely upon new blood to pay for our pensions…
I haven’t met many newbies that can learn the job fast enough without 6 day weeks. After that (say year 5)- I’d say anything goes!
I’m on track for partner in the next 1-2 years and on a flex schedule - hasn’t been a problem