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What do senior associates in Chicago make?
Chief
Incoming multi-tier cringe
So I just recently passed my CPA exams and I’m now looking for new opportunities. I’m hoping to work at a big 4 firm in tax and possibly connect with anyone working there right now. Please reach out to me, I would look forward to connecting and learning more about potential opportunities. Thanks!EY PwC Deloitte KPMG
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You’re a partner - owner of a business. If business is slow you look for additional new clients, come up with new attractive service offerings, or increase your marketing to stir up new business. Ideally this all happens before the downturn.
But can an HR partner actually do other things?
Do NOT get out of the market. That is a fing terrible advice for a first year partner or frankly the vast majority of partners. It’s like telling a bball player to stay on the bench. Winners want the ball. Always.
Double down on your client - spend will come so be there when it does; this is how relationships develop - when you are there through thick and thin. Focus on developing new relationships as well.
Look for other clients and opportunities to fill the gap. Don’t go crazy - be intentional; try to stay with the same industry or solution or your existing relationships.
Internally, look for people who will help develop you. Seek advice from people you trust that can give you appropriate advice for your firm and situation, especially on how you handle managing perceptions, etc.
Good luck.
As a partner, we do not get to say that nobody is calling me. We know that long standing clients are not unlimited revenue streams so we have to continue going after green accounts.
Make it your mission to go after meeting leaders from clients that don’t do any business with your firm. Sounds like cold calling but it works eventually. And honestly, thats what being owner of the company means.
Get off you butt and pound the pavement. Clients aren’t supposed to last forever. You need to be constantly expanding your network of opportunities.
Brown nose better
Coach
Short term: Get out in the market, speak at conferences, publish "articles", call up old clients, whatever you need to do to drum up some business.
Long term: Plan your exit from consulting. I become more and more convinced every day that this industry is dead, and I've been at it for 30 years.
Hit the market hard and drive your own destiny. Don’t rely on senior partners, and don’t be one of those partners who actually doesn’t know how to create something out of nothing. Create your own relationships, delivery low priced first projects to prove your value, then keep going.
Make sure you diversify both your account coverage and your fastball. Don’t chase everything but chase enough people to always have a few pursuits in the hopper. Meanwhile figure out how to be relevant with key buyers. If you are focused on one waterfall tech implementation, get moving on agile and newer tech.
And bring a team along with you for the ride so you can pass on relationships and accounts to them, get leverage, and find the next thing.
Contemplate career change?
That’s tough. No other significant pipeline for you?
Someone hired or promoted you. It’s their business case as much as yours. Go engage with that person on strategy and focus areas. All these people telling you to pull yourself by your own bootstraps miss that this is a partnership and we are stronger together.
How did you become partner? Or are you a delivery partner?
Delivery partner is the guy who leads the program and gets his revenue taken care of by the guy who sold the deal and has the relationship. It’s a win-win
Business slow? Half the neighborhood’s out there waiting for…
You cannot control the market. Nor can you really control your outcomes. You can control your actions. First - make sure you have 5-10 non specific meetings per week w potential clients. This is your lifeblood. Be on the invite list when they are ready to buy. Secondly, swarm opportunities. Absolutely swarm them. Senior partners HATE writing proposals. Hate it (trust me). Run that process and develop a reputation.
You’re slow, your clients are slow. Spend this time getting to know them better. Do favors.
The relationships I laid down in 2008/09 have fed me and a whole team of partners for the past 15 years.
This happened to me. My sponsor left and my main client went under consulting ban. I had to work myself onto other successful senior partners teams. Wasn’t super fun.
On the bright side, now my main client is returning + I have much more revenue diversification than before. Just had to weather the storm
How did you become a partner - I get this from managers…..
I’ve seen them make partner from one annuity client. But the risk is that all your eggs are in one basket.