{ "media_type": "text", "post_content": "What is the internal partner promotion to external hire ratio at your firm? (And similar ratio at public firms for PPMD or partner equivalent )", "post_id": "614ef84be6f6a700229b44cf", "reply_count": 13, "vote_count": 2, "bowl_id": "5c133802e4f35d0012ad759f", "bowl_name": "Partners Only" }

What is the internal partner promotion to external hire ratio at your firm? (And similar ratio at public firms for PPMD or partner equivalent )

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Should firms hire more external talent at senior levels? My view is that we don’t hire enough external hires at senior levels!

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90/10 for us.

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It’s cyclical and varies a bit over time. What I will say though is that the success rate of internal promotions seems to be a lot higher than that of external hires. Ie internal candidates are a lot more likely to be commercially successful in the years after admission to partnership.

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The bar is higher for internal promotes IMO - you have to prove that you can do it. External direct admits may have good resumes and talk a good game, but never seem to be able to generate the same amount of margin. It’s hard to rebuild a network….

All internal promotion.

MD ratio ~70/30 continues to increase in the last couple of years while P is around 80/20.

Feels like mostly internal promotes but haven’t ever seen a number on it. Virtually all of our leadership is home grown though.

I’d say 80-90% internal. Most of our direct admits are people that we can issue a press release about. Former execs from our clients or partners from competitors. I think their success rate is less than 50% but many of them hang around for a couple years then move on to something else.

95/5 of newly promoted. Very hard for external hires to network and be successful. System is geared for internal promotes

As a lot of folks have said on this topic - firms go out to recruit external talent because of a perceived gap in skills or offerings. It only makes sense to provide these folks extra support to help them succeed. Some random thoughts…… Do we let them hire and build out their teams early on? Do we set them up with an internal BD team to smoothen their transition?

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