Insightful take on the oversupply of top tech leaders in the big consultancies today. Striking out on your own is another way to alleviate this pressure, especially if you've got a partner who's been there before!
Founder & Managing Partner at Patrick Morgan | Sourcing elite talent in Professional Services and Private Equity
The route to equity Partnership within larger professional services firms has become longer in recent years. Historically, during periods of rapid growth for some of the industry’s most recognisable brands, high performers could achieve equity Partner status in as little as 8–10 years. Today, however, the story is different. For most consultants, the journey from entry-level to Partner now spans 14–18 years, with only a few exceptions. This marks a stark contrast to earlier generations of Partners, who benefitted from faster career progression during times of significant industry expansion. This extended timeline has become even more evident over the past 18 months. Challenging economic conditions have led many firms to delay Partner-level promotions, raise revenue targets, and reduce the number of equity Partner roles available. Instead, firms are increasingly promoting individuals to titles such as Managing Director—positions that, while prestigious, often lack the financial rewards and strategic influence traditionally associated with equity Partnerships. In contrast, competing specialised boutique consulting firms tell a different story. These nimble players, often built around niche expertise or innovative service models, have maintained dynamic growth and flexibility. They promote high performers more quickly, offering broader responsibilities and greater exposure to clients and decision-makers at an earlier stage in a consultant’s career. Within these firms, it is not uncommon to see individuals in their early 30s reaching the Partner-equivalent level. Driven by the growth of the firm, these boutiques are expanding into new markets, geographies, and service lines, creating opportunities for consultants to take on significant responsibilities much earlier in their careers. The reality is that once a firm reaches scale, new senior opportunities emerge more slowly unless the firm is able to continue to grow at pace year-on-year. Source: Liam Hughes