From Salaried Partner to full Equity: Breaking through the Partnership ceiling

It’s not uncommon for a Salaried Partner whose been promised Equity to feel stuck in a holding pattern. The transition from Salaried to Equity Partner can be a spiky, unclear? journey that extends far beyond technical performance or client delivery. Progression is not even close to being linear and the rules are not always explicitly explained. And then of course there’s the issue that you may know exactly what the rules are but don’t want to play them! The fact that many Salaried Partners I speak to can be exceptional performers and are still unable to secure an equity stake, highlights the difficulty of the task.

The Chasm

The brutal reality is that it's a complex blend of firm politics and strategic positioning. If we connect and work together, we’ll ensure that you successfully position yourself beyond the parameters of revenue generation. Core questions that we’d cover together will ensure that you’re focusing on thinking and acting as a business owner and not just a high-performing employee. Creating value that is genuinely scalable in addition to creating and leading on strategies that can be replicated across the firm, is fundamental to making the Equity Partner transition.

In my years of advising professionals through this transition, my main observation is that the most successful Salaried Partners understand very early on that Equity Partnership is about institutional commitment, not just individual performance. I referenced this in my previous article on promotions where if you have Partner ambitions – this starts from day one of being a Director. If you can demonstrate that you can think strategically about the firm's future and create synergies between different service lines – this is at the heart of the Equity Partner track. As we move into a unique tax environment, governance and your approach to risk is also important to be very clear on.

In a nutshell, internal relationship management needs to have equal billing with external client delivery. Are you visible to the firm's leadership? Do senior partners actively advocate for your progression? The most successful transitions are rarely solo journeys—they're collaborative efforts where your senior partners see you as a strategic asset to the partnership.

Taking action and next steps

The journey to Equity Partnership is complex and highly personal. If you're considering this move, let’s have a conversation about your career trajectory. I've helped numerous Partners navigate this transition successfully and would be happy to discuss your specific situation. You can reach me at [email protected]....Complete honesty about where you’re at is the best place to start!

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