Related Posts
PwC India - Manager position. SAP. Any comments?
I am currently interviewing at TikTok for the Content Partnerships Lead role. Can anyone share some insight into the salary bands in the Sub-Saharan African market? Should I benchmark with the global rates?
Any tips and experiences interviewing in this region are also welcome - and highly appreciated! :)
More Posts
Cole Haan vs AE. Discuss
Recently got transformed into Big data,my first project,it's been 3 months,but completely over exhausted, completely mental pressure,not understanding anything,they are giving me completely other tools,can I ask a roll off in Accenture from the project, what can I do please suggest?Accenture Tata Consultancy IBM Amazon Tata Consultancy
Additional Posts in Partner One
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Read the Wall Street journal from a month back about what it did to Big Law. Focus is on Kirkland but there are some other firms mentioned. On one hand, it is better for the individual to get partner on the resume, but I think you won’t “feel” like a true partner and obviously comp won’t be anywhere near
For others: https://www.wsj.com/articles/being-a-law-firm-partner-was-once-a-job-for-life-that-culture-is-all-but-dead-11565362437
That’s the way how Deloitte operates. You go from SM to equity partner (principal / partner) or to salary partner (managing director). I think that it works well so far.
I suppose such a thing poses little to no risk for the firm while the onus will completely be on the alleged partner to prove that he/she can handle sales, retain existing clients, build new relationships etc - everything that a true partner would do. However, how does a firm incentivize this? Solely on the individual's desire to make a true partner? Or would there be a sales component baked into compensation?
Well, you would need to distinguish this role from a MD role - meaning, this new role would not require deep knowledge/SME/Solution Owner but is ultimately all about sales and client relationship/management with the ultimate goal of stepping up to an equity owning partner once the entry parameters to the equity owners club have been met. Meanwhile, the base would likely need to be at or beat the typical MD base with a bonus structure probably tiered to the achievement - % for winning new work from existing client, % for selling new sow to new client and so on. In other words, the incentive, during non equity times, must be sweet enough for someone to bust their backside to even aim for this kind of a role with all the stress of an equity owning partner but without the same benefits
50-50. We used it as a pipeline to full Partner. It worked when there was a cultural and knowledge fit, and it gave us an easy exit route when there wasn’t. We tended to put a 6-12 month assessment period on whether to move to full Partner.
I’d look into if this role will actually help attract external talent. Yes some people just want the title but I think most people that know their value will want to be an equity partner. If this was a stepping stone to equity partner I could see it working but if not, then this would be no different than a MD role or SME role mentioned above and most people see right through that, unless of course that’s what they are specifically looking for.
BCG does that