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Sounds about right to me
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not Partner, but higher then senior manager
Think of EDs as non equity partners or more correctly, non equity principals. They are part of executive leadership, thus the term PPED or Partner, Principal, Executive Director. They can be highly compensated based on performance but don't have equity in the firm. In some cases, it can be more lucrative to be an ED.
In practice, EDs will have less sales focus and more delivery/management focus with goals adjusted accordingly. In general, however, there is very little difference between a client service line partner and an ED other than how the comp and retirement works. Of course more senior partners who are leading various parts of the business will be in a different place comp wise but they also have different goals and objectives.
EDs should be specialized, but more like often than not they’re just gloried SMs
EY1 -- hell no. EDs have executive powers. What they dont have is equity.
Sorry i meant EY3 😀
Yes.
People who hit a dead end in their career are counselled out. It doesn't make sense to make a partner once you deep into your 40s. Many people start their consulting careers late.
Ed is a no equity partner - you need 15-18 years to be a partner and pay off the debt so some folks take the ed md route to make 500k a year with debt - great option if older and those who think it is a dead end don’t know anything
You are not a Partner but get a salary and don't have as much sales pressure. EDs are generally specialized in an area.
Executive Director same as Managing Director at Deloitte.
M1, what part of what I said was wrong...?
They should but talk to me honestly, do you respect an Ed the way you respect a partner ??
K
Ex-EY and it has been some years but most of the EDs I came across seemed to people who had hit a dead end in their career
IBM1 is not well informed
Yeah 15-18 years? Max 3-4 years to return the debt
@P1 - Thats why IBM1 is where he/she is.
In the US firm, you can be a Partner/Principal (equity - difference between two is CPA status and ability to sign audit statements - the two are the same but are in different legal structures for risk management purposes) or Executive Director (salaried employee). There are also a very small handful of Directors and Associate Directors, but to my knowledge those titles are reserved for non-client serving personnel.