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Mentor
It depends on what your expectations are and what you’re capable of.
MD is a great position, but generally speaking and all else equal, responsibilities and financial potential are higher at PP as is the risk.
If you think you can make it to Partner elsewhere and you want to be a partner, it could be worth it, but I would approach it with caution. You would have to completely rebuild your network and business case, which will take time. I would have some very clear conversations to understand why you’re not seen as a Partner; generally, there’s some valid feedback. You want to understand that if you decide to take a risk and go elsewhere, so you don’t end up in the same situation there.
Thank you. Yes, I will have that conversation.
If you want to be partner, you are better off switching firms if EY is pushing you towards MD
There have historically been MD -> PP promotions at EY but few and far between (guessing you are in the US)
Pay will be significantly less than PP.
Thanks. Yes in the US.
What type of industry roles do you think you can get? I hear everyone talk about about it being so easy coming from Big 4, but most F100 only allow B4 to move into accounting roles.
I was at EY ten years ago and age was a major factor in the MD vs P discussion. If that is a consideration for you, then I would consider how long it would take you to achieve partner elsewhere. Maybe get the MD at EY and then look to jump?
Key point that was stated earlier, it’s hard to post the kind of numbers required to get a relatively fast promote from MD to P while simultaneously building a network and reputation. Doable but hard, depending on how long your runway is.
I’m 35. So have some runway. That’s why considering options.
Coach
Do the math based on years till retirement and your appetite for downside risk . The older you are , MD often starts looking much more attractive .