Looking for advice. I am very close to making partner at a national firm (next year), but recently was approached with a SVP role at a private company in my industry. The comp is much higher than what I am making now, and will be comparable for the first few years as partner. I’m very torn because I can see myself doing well in both paths, and there are pros and cons to both. Continued…
Coach
Take the SVP role and run
Why not try for partner next year, it’s hard to line all the ducks in a row, sounds like you have that now. If you do or don’t make it next year, the same position in industry will still be there as well, or a similar one
SVP role and run. No brainer if you think you’ll enjoy it and be successful. You can always go back (or even upgrade) to firm.
I’m torn on this for you. My hesitation comes from “you’ve already done the hard part.” Also I’m assuming partner comp is similar to that of Deloitte, and it’s a hockey stick. You may start as a partner 1 making 300-400k but then you rise to 7figures and delivery expectations are almost non existent. Does the SVP opp afford more quality of life/time to spend with family etc?
Not sure, but at Deloitte P1 is around 300-400 depending on # of units and cross-team performance and sales. This past year was strongest revenue year yet and so P1-3’s were gifted additional units/made closer to 450k
All things said I would take the SVP job if you know someone who is making senior partner money. Seems like a better op/different experience. You can always do it for 2 years then come back to consulting.
Why not take the SVP role for a few years, build an even larger network and the decide of you want to return as a direct partner? If life is good, then keep going in industry
Once a Partner always a Partner. But if you leave a level below, you may not get a Direct Admit Partner level down the road. Also given that you will be the first Partner in that geography, I think you will get in a leadership role soon. In any case if I was you, I will get a Partner title first and then leave if it is guaranteed partnership in a year.
Part of me feels like I should just stick it out and wait one more year since I worked so hard to get here and it’s finally about to pay off. Another part of me says just take this new role and go with it since partnership is never guaranteed and though they are telling me next year that can change easily (seen it happen to others). Any thoughts?
Agree with the previous post. Being a partner is a job you have to want and a lifestyle that you want to have while living life. It’s not really about making it or being good at it. That’s what many struggle with on the other side. Talented people are always good at more than one thing. The key question is what do you want to do with your time and effort as a senior executive in an organization?
You have 3 PPMDs saying take it and run / it’s a no brainer ☺️ hmmmm
I’ve spoken to a good mix of PPMDs, and colleagues who left consulting for similar roles. I think everyone definitely has a bias based on their own experience for sure.