I’ve seen a few Partners getting laid off lately.
Any insights to that process? Does it differ from when the rest of us gets laid off?

I have a feeling that the Partner title is heavily overrated.

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Partners get laid off all the time, at all firms, usually for 1/ failing to build or sustain a large enough practice, 2/ values issues. However, their exits rarely look like layoffs - mostly celebrating the new job they are leaving for.

likehelpful

At least at BCG, MDP is also an up or out level with several layers within the title. If you’re not performing as an MDP, you will be pushed out- it’s not a title where you can coast at.

BCG also doesn’t do layoffs for non-MDP levels, it’s almost always an increased up or out threshold if a haircut is needed.

likehelpful

In one sense partner no longer describes access to a lifelong membership to the partnership you can’t get kicked out of. In another it’s actually much more lucrative than the partnership was in the past as firms have grown larger and more profitable. One of the ways we did that was exiting unproductive partners. So the rewards have grown but they’ve grown at the cost of job security.

likesmart

Not even a private dining room anymore… 🥺

Why do you feel like it's overrated?

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Greater incentives, more responsibility. Is it not the next level up for you / wasn't that something you learned about when considering your move into consulting?

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