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This question is about manager/partner.
How long does it take to become a managing partner?
It takes 15 to 20 years to become a managing partner. A managing partner, partner manager, or managing general partner is a person who owns a percentage interest in a partnership or limited liability company while being responsible for actively running the business.
Generally, to become a manager partner takes extensive expertise, which takes fifteen to twenty years to acquire. This includes some time spent in a junior partner role. In addition, managing partners typically have at least a four-year bachelor's degree, a five-to-six-year master's degree, or an eight-year law degree.
Businesses that rely on managing partners include:
Law firms
Accounting firms
Consulting firms
Financial firms
Real estate firms
Construction firms
Insurance firms
A partnership can choose to either hire external managers or outside managers to run the business or appoint a partner as a managing partner. In smaller partnerships, it may be practical for all the partners to assume day-to-day operations of the business.
In partnership structures with many passive partners, the partnership may prefer hiring external managers to handle the business operations.
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