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In Industry you wont be posting this at this hour.
Bro it’s Friday night
Your loss bro
Easier to be a partner than a CEO.
Mentor
The main benefit is you get to do this for a living — if you like this job, that’s a huge plus. If you don’t like this job you probably shouldn’t be a partner.
And then assuming you like doing this there’s no faster or higher probability path to a 7 figure income.
PwC 2 - it’s not the same for every partner - different practices have had varying levels of intensity, etc. I have enjoyed a lot of flexibility to shape my work around my life. My clients appear to have less flexibility and they seem under the gun all the time.
Maybe if you state your specific concern, it’d be easier to address that instead?
An industry job is you solving problems unique to 1 industry. Depending on your practice, many partners get to seek solutions for challenges across Castries industries. Keeps the work interesting.
Companies in industry generally have 10, 15 people making high 6, low 7 figures? Total. The firms have thousands of people making these paychecks. So, odds are, you don’t need to step into dead men’s shoes to hit your FIRE goals or make bank.
The partnership is entrepreneurial. You get the chance to build your practice and your focus. Industry means you have much less autonomy in what goes on in your world in terms of driving business.
Also, industry: no posting late at night on Fridays 🍹
*many people make high 6 figures … in a single company? How many non-C Suite employees outside FAANG are making high 6-figures?
* you make upper 6-figures providing advice. Not sure how scalable your business is but do you have any employees making close to your income, or do you know many people in your industry as financially successful as you claim to be.
While making partner is difficult AF, the benefits described here are still largely true and your odds for more $$ are better.
Great thread, this. Some meaningful conversations
Partnership is fun, high-paying and entrepreneurial! Path to get there - not so much, it's a grind - especially as an SM/D at Big 4 for 5-6 years.