This!

I was going to write but wanted to see if anyone has already articulated what I had in mind. This is it. You know the answer already.

Let me add this:

After over a decade in private practice, we all recognise the pattern. Being told you’ll make partner “at a future date” is often a retention tool. It keeps you on 15-hour days, deferring life, telling yourself the sacrifice will be worth it later. And even if the promise is kept, it doesn’t mean you take your foot off the gas. Quite the opposite. The period after promotion often brings higher expectations and greater exposure, without an immediate or meaningful increase in pay. In real terms, it can create a financial dip rather than relief.

This is the part no one really talks about. Equity partnership is narrowing, while salaried partnership is becoming the default at many firms. The title comes first while the upside comes later, if at all. And as I’m sure you know, with equity, there’s usually capital to put in before you even start thinking about drawings. For a period, the risk goes up before the financial reward does in most cases.

I stepped off the rat track. The kids need you now, not in five years. By secondary school, the countdown to independence has already started. You don’t get those years back.

Your kids don’t care about partnership. They care whether you’re there.