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Job Survey: Managing Partner

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Location: Los Angeles
Company: Somerville and Associates LLC
Experience: Executive
Highest Level of Education: MBA



Job Responsibilities
Be a thought leader, publish ideas and insights, develop C-level clients, create client proposals, assemble client service teams, lead and work on client engagements, bill the clients for our services, develop staff and alliance partners, etc.; there is no typical schedule.
Job Requirements
Harvard MBA (Baker Scholar) and 20 years founding, leading and working with global strategy consulting practices (for firms like McKinsey and Accenture).
Uppers
Facilitating CEO/Board-level client workshops - for businesses, governments and non-profits - where breakthroughs happen.
Downers
Paperwork (for my firm, but also for state and federal government bureaucracies).
Lifestyle
Work 50-60 hours/week, 50% for-profit and 50% non-profit (pro-bono work), travel 1-2 weeks/month, 1-4 networking events (b'fast/lunch/dinner)/week, business casual dress; because I run my own small business I choose my hours and spend most mornings and evenings (when I'm in town) with my wife and young kids.
Compensation
Around $1 million/year (highly variable depending on client engagements and fee structures); charge basis may be time/materials or an equity interest.
Advice to Jobseekers
Get a good grounding in the strategy consulting business by working for a leading firm (MBA is a ticket-to-play, but won't teach you how to actually do the work), then develop your personal reputation to the point that you can create a business around you, monetize what you know and do only the kind of work you really want to do.

This Managing Partner career survey is just one of 1000s of exclusive career surveys available on Vault. Find out what it's actually like on the job with Vault's job surveys.

Read all Vault Career Surveys for the inside scoop on specific jobs
Read Vault Employee Surveys for the inside scoop on specific employers
Read Vault Student/Alumni Surveys for the inside scoop on colleges and grad schools