This might be different by firm. Partners, is this a good or bad year to make partner? Comp will likely be lower for P’s next year than, say, two years ago. But will buy-in be lower as well? Is this a good “buy low” year for making partner?

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It’s always a good year to make partner.

On a serious note, clients will recover and spend. There will be BK work, deals, capital projects, and a host of business improvement projects that are needed.

I’m making you a partner in my firm because you will be accretive over your lifetime, not necessarily the first quarter or year or several years.

G

likesmart

Pessimistic view here, but I think it depends on if you’re going to be a good partner or not. The sales aspect, and true pressure to grow sales instead of maintaining years old annuity work, is challenging and a new skill set for a lot of people who have grown up in the firm. If you’re a rainmaker / future rainmaker, comp will be lower and your trajectory may be a flatter curve at the beginning which would make it seem like not the best year to get partner.

If you’re eventually going to fail at the sales aspect or be kind of a lame duck partner riding it out until you get pushed out, this may be a good year to get promoted. Say the firm gives a 2 year runway for you to prove you can grow a book of business, if you’re not capable of doing this you can probably blame a slow year 1 on economy and avoid having to be accountable for some portion of your “runway” period and can maybe eke out another 6-12 months before you get the push. In a great economy, this would stick out like a sore thumb a lot faster.

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