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Career Resources
Eh, what the hell, let's engage in this pointless exercise.
1.) PM 2.) PE Partner 3.) Fortune 500 C suite 4.) MBB partner 5.) Big Law partner 6.) BB MD 7.) Big 4 partner
Of course I am basing this on nothing but this is a nothing thread anyway so whatever. edit: ranked from most to least difficult
Huh, I'd always thought MBB and Law were both "easier" to progress than MD.
Reading comprehension, Bob......I hope?
Surely PM/PE Partner aren't easiest to obtain. I mean maybe PM with low AUM...
That is my bad, I ranked from most difficult to least difficult, imo.
p.s. thanks for calling me out, we all need that sometimes
Doesn't it depend on the person and their interests?
A lot of overlap in the character traits that people who get to positions like this have. A lot of them are nonquantifiable. You either got it or you don't. Pappa coula been a surgeon or an astronaut, dig?
With my small knowledge of finance, from hardest to easiest I see it as:
1) PM (Requires a ton of be in the right place at the right time among many other things)
2) Fortune 500 (Self-explanatory)
3) PE Partner (Less than 15% get to come back to PE after MBA, what are the chances of Partner?)
4) BB MD (Kill it for most of your years in banking and hope for there's a spot open)
5) MBB Partner (Heard some people say around 10-15% chance of making it at MBB and a bit higher at Big 4 or Smaller firms)
6) Big Law (Go to a top 14 Law School and work your ass off and/or lateral to a different firm could get you there)
7) Big 4 (Judging by easier recruitment, I assume making Partner is easier)
No idea how accurate it is, just how I would assume it goes
knew a guy who made it to an audit partner at big 4 from my university - he said put the hours in, stay long enough and add value to the firm in ways that the people who need to see it do see it and you're en-route to being partner. Also he said crush your first project/promotion and you might be placed on the partner track.
This is what I heard from my Big 4 friends from school, but it sounds like soul crushing work, although fairly linear lockstep progression apparently.
You guys think becoming a PM is more difficult than becoming a CEO / COO/ CFO etc at a Fortune 500 firm? Delusional.
I won't say delusional but yeah you have a point. I think for the average person that has a plausible chance to be any of those, the one thing he's least likely to succeed to become is F500 C-suite.
PM is the easiest thing on this list by an enormous margin. There are many different types of portfolio managers and the vast majority of types do NOT mean billionaire portfolio manager. If OP said ‘billionaire portfolio manager’, then yes, that would be more rare than c suite at F500. Otherwise, it’s exceptionally more difficult to get c-suite than a business card that says ‘Portfolio Manager’.
I would say delusional. It is probably a direct product of the fact that most people on this forum have a myopic obsession with the Wolf of Wall Street image of finance that they'e constructed in their heads.
There's so many simple mathematical ways to demonstrate that placing CEO/COO/CFO anywhere lower than "most difficult" is ludicrious.
There are 500 fortune 500 companies. 500x3 = 1500 of the aforementioned c-suite executive slots in the world
Banks, consultancies, Big 4 and law firms each have have several hundred MDs/Partners. Times the number of BBs, Consultanties, Big 4 and Amlaw 100 firms...thousands upon thousands of these positions are out there.
PM can mean so many things - there are surely thousands of no-name "PMs" out there that technically fit the role.
Or we could look at the fact that many/most c-suite executives were former partners in the Banks, consultancies, auditors and law firms. Ipso facto the c-suite set is merely a subset of the Partner/MD set.
Going to second DickFuld but with respect to biglaw partner.
Most white shoe firms have thousand(s) of non-partner attorneys. In my time in biglaw, I saw on average 1 or 2 partners a year being minted, and many of these were laterals, i.e. partners from other firms or higher ups at government agencies. You do the math on how likely it is that your associate track position ends with partnership.
This is not even factoring in the rise of "equity vs non-equity partners", "counsel", etc., all of which serve to place the bar for partnership that much further away from the grasp of young lawyers.
So is making partner in Law generally harder/rarer than at a BB or MBB?
I agree but to be fair these days damn near every F500 company has Company CXO positions then divisional CXO positions as well. Depends if he means being the Jamie and Lloyd's of the F500 world or becoming any one of their dozen divisional CXO's
This^.
There are global leaders, regional (EMEA, APAC), national (UK, US, China) and national regional (Midwest US). In product/service lines, divisions and business units.
So in reality the scope of the F500 executive suite is pretty large.
On a serious note, even if it was corrected for "PM at a fund with X yards AUM" or "PM directing capital of X", that still would not be as hard as almost anything on the list. Maybe MD at a BB is easier, actually. There is a vast number of inept MDs there - lot's of times that promotion is about "managing up" (a.k.a. felationary skill).
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