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I like the part of the question about why are you a partner. I’ve been a partner now for 14 years and plan to retire at 55 (in 5 more years). I make 7 figures and have responsibility for several large accounts. I honestly never thought I would stick around long enough to be a partner. In the 90s I thought about leaving for a digital startup, in the 2000s I almost left for industry. But generally I like what I do - the pace, the challenges, the different clients, the smart people who work for us, the concept of partners owning the firm, and even the travel if I am honest. I have figured out how to have life balance while doing well in my career. And I grew up in a single parent family without money to cover the basic bills let alone anything nice. So I feel like I have worked hard and made more of myself than most ever expected.
So, I agree with Principal 1. I’m 8 years in and also plan to retire at 55 (9 more for me). Comp is in the seven figures as well and I did leave the form for a startup and come back. I’ve also considered leaving and going to a competitor and tonindustry but at this point am probably here for the duration I love our people (for the most part) and LOVE our clients (again...for the most part). The variety of work I get to do is fantastic and the breadth of experience I’ve been able to build here is hard to find anywhere else. I didn’t plan to do this as a career but can’t imagine doing anything else at this point
I think it is one of the best and deepest topics on FB. Would like to hear more from partners. Please, invest some of your time in us and share your thoughts. Thanks in advance
I got into consulting late, so I am 51 now and have been a partner for 5 years. I think this will go until I am 60 or so, unless something attractive comes along from industry.
I’m at a mid-size firm so the role is a bit different than you describe. I lead an industry and have both my own clients plus clients that other partners own. Most of the partners I work with choose to work in my industry - there is only one partner I hired myself.
I got here partly because everyone said making partner was hard and I am very challenge oriented. I also really enjoy working with a bunch of smart people who have great ideas and keep me on my toes.
I’m also at the point where I am starting to be well known in the industry - I get ask to speak at conferences, contacted by journalists and always have companies seeking me out for various things. That part is pretty fun.
All that said, I am not tied to consulting. I would move to Industry for the right job. But realistically there are less than 100 positions in the US that are the right level for me, where my skills fit, and where the company is interesting enough that I would move
Depending on Firm, being a global competency lead might not be all that big a deal.
A global lead really doesn’t have P&L responsibility (unless they also have a large territory role as well) — they’re more of coordination roles. A competency leader in a large sector may have a larger impact than a global leader. For example, the global lead for cloud might not have the same impact as the US leader of cloud
Main reasons for me:
- A lot of autonomy; we have very clear objectives that we have a say in, and there is full freedom and flexibility on how we achieve them
- The variety of work, always changing, new interesting problems
- Working with smart people that care about each other’s success. The benefits of the pyramid and high growth are that there is strong apprenticeship and people help those below without fear of being replaced
- Clear career path, leadership opportunities and continuous learning, and ability to strongly influence what we do
- Great compensation for a role that I absolutely love
Hope this helps!
Agree with P1. Last two PPMD posts were awesome. Please share more
P1, that's why I'm giving it a 5/10. Surely a competency lead that produces $500M leveraging other Partners is a 5/10, no?
I got Partner early (36, now 40)making a bit less than the people above (750 ish last year all in) but it’s a chance to have two careers - pay everything off (house, holiday house, cars) and build a nest egg by 40/43 and go do PE/VC/entrepreneurship. Flexible location and travel means we can integrate work and play (not always balance it).