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ED is generally frowned upon by ones partner. ED is something that happens to you, while a partner is more earned. Though you’ll find it more difficult to earn partner status while experiencing ED. ED is generally not something one pursues, but if you can’t be swayed, trying pursuing an ugly partner. That typically results in ED
Partners have a mandatory retirement age where EDs do not. Partners have to buy into the firm where EDs are employees. To me a partner is the preferred path for someone who has a long runway in front of them. Otherwise ED is the next best thing
EDs do not technically buy into the partnership, therefore they don’t have some of the same abilities as partners (i.e. signing financial statements).
ED goals are different. Book of business can be smaller. Focus can be different. Revenue sell new business is lower
There are certain cases where an SM that missed their opportunity for partner (did not land an account as expected), they get ED as a settlement.
EDs can Never become partners, work until 65, have lower salaries and pension, no chance to ever be in charge of something (group, service line, region, etc) and still have very high sales pressure. If you are offered ED, you are f..ed. Take it and go to Pwc or KPMG as an MD and continue your career progression. EY SUCKS!!!
ED=non equity partner...same process as becoming a partner. Depending on service line the ratio of wanting and pursuing an ED path may be different than other service lines. (As opposed to someone who couldn't make partner.)
ED = not good/confident in sales 90% of time. 10% of the time for personal reasons.
PwC1 still hasn’t gotten over their rejection from EY, it seems. Whatever helps you sleep at night, darling
There is no happy ED at EY. They all wish they made partner, but the firm uses them to pay the pension of partners. At the top, 40% are EDs and 60% are partners, with no path from ED to partner. Horrible model if you fall on the wrong side... so many EDs have left EY to go to the other 3 because they were stuck and had enough of being 2nd class citizens. Pretty poor talent management but hey, very profitable for the partners...