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Chief
One is senior and the other is not.
SMD is the PPMD position. MD is a step down from that.
MD is non equity partner
I don't think that is an apt comparison. FTI is a public company. SMDs are the PPMD equivalent and to varying degrees run the practice. MD would be right before that. I don't know what a non-equity partner does in a partnership, so maybe I am wrong.