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Pro
Boomer partners saying F the young people I want a few million before I retire. Screw everyone else.
How is this a wrong take, people?
Like, seriously - #wheresthelie?
Chief
You can be a "partner" where you get to work even harder, and one bad quarter - BAM... Pip. The narrative is "it's good for top performers. Aren't YOU a top performer? So what do you have to worry about? Oh yeah, Charlie... He's gone. He was no longer a top performer. By the way, the targets are increasing 5% but you can handle it right? You are a top performer after all. Don't want to end up like Charlie. "
Chief
I'm holding out for that severance
Partnership is already dying even at the Big 4. The pipeline to make partner has dried up in many practices and talented individuals are accepting MD roles as it is no longer palatable to be a life long director and hit a pay gap. In 20 years, these firms will look totally different. The partnership model is not sustainable with the level of COE usage and outsourcing to ACs.
Why do you think the partnership model worked for 75 years but now will change? What has changed in the industry?