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rc and other partners

 
#1 rc and other partners
15/12/2012 00:54

Bravehearted

From joining as an analyst, making partner is often a common - even if unrealistic - goal of many. E.g. The ex

rc if you don't mind, why did you give up yours? Isn't that the pinnacle of the idea?

What does it feel like when you've made partner - I.e. is there still a drive to conquer other professional endeavours?

Also, how are "portions" of the firm allocated to new partners?

Thanks

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#2 RE: rc and other partners
15/12/2012 19:47

rc to Bravehearted (#1)

it was indeed the pinnacle at the time, but there is a bigger world out there... my particular journey was having done 4 years in Big 6 (at the time) consulting, then gone out to industry and acquired some expertise in a particular financial services niche for a number of years, returning as a senior manager into a newly created specialist practice. with regard to the 'allocation' point, I made partner from building a practice around a new service offering and set of market relationships, then effectively had to trade those in to a senior partner and repeat the trick with another new offering when I was promoted... The process is gruelling, so that making partner gives you a big sense of achievement and rather goes to your head at the time - it's only when you leave that you regain some sense of perspective. I went back into industry after a few years into a divisional MD position because I wanted to run a large function from soup to nuts rather than sell and deliver an endless series of projects. I also had young kids and wanted to spend time with them - as a partner, apart from the long hours everyone does during the week, I was increasingly expected to be 'building relationships' with clients at weekends, and I like to keep some segregation of business and private lives. I was tempted back into a direct partner entry role once more, but found the Big n consulting market had largely shifted from deep niche expertise (deep specialism, very high rates, patchy utilisation) to more of a generic body shopping model (broad consulting toolkit, low rates, very high utilisation). I don't really see much client value add in that model above using contractors, other than procurement convenience, and being a partner with a high personal utilisation target as well as line management responsibility and a big practice sales target splits your time too many ways to be enjoyable. I now do MD-level interim exec assignments and some strategy projects, leveraging my personal network. It gives me a mid-level partner income with a very significantly better balance of life, which I find a good compromise. You will find many, many ex partners out there in industry and in independent/boutique consulting - mine is not an unusual pattern. Hope that helps.

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