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Mentor
Bigger fish in a smaller pond.
Coach
How do you know they’re making less money? You can’t just assume that based on average EP / NEP comp. In a lot of these instances, the person moving down the rankings is doing so for a lot of equity such that they do make more.
Oh I thought you asked why someone went from NEP at top firm to NEP at lower ranked firms…if it’s NEP to EP that’s no brainer to me. Better opportunities to develop your own business, big fish in a smaller pond, potential to earn more in a couple years etc. especially for those lower ranked firms that are lockstep/modified lockstep, once you’re an EP it only takes a couple years to earn WAY more than an NEP at a top firm. I have a couple of friends who went through the same route.
Sometimes geographical/personal reasons, I would imagine. Also, status?