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50 for several firms. 10 years to vest for pension. Forced retirement at 60
I'm sure there are HBR case studies on the disadvantages of this structure but the two that immediately come to my mind are that leadership/upper management is expensive and beyond a healthy management: employee ratio adds to bureaucracy and inefficiency.
After 40 your business case becomes weak. A vast majority of partners are made before they hit 40. There are exceptions, but those would be to fulfill specific "needs" of the firm.
This isn’t as true as you make it seem. The average age of ‘new’ partners is closer to 45 than <40. It‘s very difficult for senior level executives, especially C suite people, who are likely in their 50s and 60s, to see a 39 year old Consulting partner as any kind of an equal. And especially since many MBA hires are close to 30 when they graduate, it isn’t really possible for them to go from SC>M>SM>P in less than 10 years, short of being some kind of rockstar. Not saying that doesn’t happen, just pointing out that ‘most’ people make partner before 40 isn’t true
I know a SM who is 38 and going for partner
I thought 38 was kinda old to be trying for partner 🤷♂️🤦
PwC it’s 50 based on retirement at 60. Deloitte might be 52 and not sure about the others.
How can you legally “force retirement” - why would anyone want to work for a company where you have an expiration date. AlixPartners has a great Partner named Al Koch - maybe you’ve heard of him - he’s well over 60 - and a legend.
No, I was a professor briefly before joining an MBB through one of their PhD hiring programs at entry level.