Timetable
Often times we speak with Income Partners who are hopeful that this will be their year to become an Equity Partner. However, when we ask who their Sponsoring Partner is and where their paperwork is for this year's Partnership submissions, the Partner won't know.
What we recommend to these Partners is to make sure they know who their Sponsor is, where they stand with that Partner for their support to be promoted this year, and where their paperwork is in the queue to be considered for promotion this year.
In other words, we encourage Partners to take their career advancement into their own hands to understand what they need to accomplish to deserve Sponsorship this year and to manage the process (and their Sponsor) in a nice way to ensure that there is a meeting of the minds and that things are lined up to make it happen for them.
If their Sponsor tells them that this isn't their year, we encourage Partners to understand why it isn't and what they need to do next year so that they can achieve their objectives. While this discussion may be uncomfortable, it is imperative for avoiding misunderstandings and working for something at one's present firm that is never going to happen.
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