Becoming a partner in a professional services firm

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Abstract:

Being your own boss, becoming a partner in or part-owner of a business, and achieving great wealth and prestige are the dreams of many youths. Professional service firms (PSFs) provide many opportunities – for leadership, authority, and autonomy; for equity participation; and for advising the leadership giants of business. It looks like a good match. Growth in PSFs and the desirability of working in PSFs has been increasing at an average of 15 per cent per year for over a decade. Yet, most newcomers to PSFs indicate that they are not planning to become a "partner or owner". The answer may be more than rejection apprehension. Most newcomers, even after five to seven years of experience, remain uninformed and rather clueless as to what it means to be a partner.

Keywords: Career Development; Career Planning; Consultants; Partnering; Service Industries; Top Management

Document Type: Research Article

DOI: http://dx.doi.org/10.1108/13620430210421641

Publication date: March 15, 2002

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