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Become A Managing Partner

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Working As A Managing Partner

  • Making Decisions and Solving Problems
  • Communicating with Supervisors, Peers, or Subordinates
  • Getting Information
  • Coordinating the Work and Activities of Others
  • Guiding, Directing, and Motivating Subordinates
  • Deal with People

  • Make Decisions

  • Stressful

  • $175,000

    Average Salary

What Does A Managing Partner Do

Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations.

Duties

Top executives typically do the following:

  • Establish and carry out departmental or organizational goals, policies, and procedures
  • Direct and oversee an organization’s financial and budgetary activities
  • Manage general activities related to making products and providing services
  • Consult with other executives, staff, and board members about general operations
  • Negotiate or approve contracts and agreements
  • Appoint department heads and managers
  • Analyze financial statements, sales reports, and other performance indicators
  • Identify places to cut costs and to improve performance, policies, and programs

The responsibilities of top executives largely depend on an organization’s size. For example, an owner or manager of a small organization, such as an independent retail store, often is responsible for purchasing, hiring, training, quality control, and day-to-day supervisory duties. In large organizations, however, top executives typically focus more on formulating policies and strategic planning, while general and operations managers direct day-to-day operations.

The following are examples of types of top executives working in the private sector:

Chief executive officers (CEOs), who are also known by titles such as executive director, managing director, or president, provide overall direction for companies and organizations. CEOs manage company operations, formulate and implement policies, and ensure goals are met. They collaborate with and direct the work of other top executives and typically report to a board of directors.

Chief operating officers (COOs) oversee other executives who direct the activities of various departments, such as human resources and sales. They also carry out the organization’s guidelines on a day-to-day basis.

General and operations managers oversee operations that are too diverse and general to be classified into one area of management or administration. Responsibilities may include formulating policies, managing daily operations, and planning the use of materials and human resources. They make staff schedules, assign work, and ensure that projects are completed. In some organizations, the tasks of chief executive officers may overlap with those of general and operations managers.

The following are examples of types of top executives working in the public sector:

Mayors, along with governors, city managers, and county administrators, are chief executive officers of governments. They typically oversee budgets, programs, and the use of resources. Mayors and governors must be elected to office, whereas managers and administrators are typically appointed. 

Most educational systems, regardless of whether they are public or private school systems, also employ executive officers. The following are examples of top executives working in the elementary, secondary, and postsecondary educational school systems:

School superintendents and college or university presidents are chief executive officers of school districts and postsecondary schools. They manage issues such as student achievement, budgets and resources, general operations, and relations with government agencies and other stakeholders.

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How To Become A Managing Partner

Although education and training requirements vary widely by position and industry, many top executives have at least a bachelor’s degree and a considerable amount of work experience. 

Education

Many top executives have a bachelor’s or master’s degree in business administration or in an area related to their field of work. Top executives in the public sector often have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations often have a master’s degree in business administration (MBA).

College presidents and school superintendents are typically required to have a master’s degree, although a doctorate is often preferred.

Although many mayors, governors, or other public sector executives have at least a bachelor’s degree, these positions typically do not have any specific education requirements.

Work Experience in a Related Occupation

Many top executives advance within their own firm, moving up from lower level managerial or supervisory positions. However, other companies may prefer to hire qualified candidates from outside their organization. Top executives who are promoted from lower level positions may be able to substitute experience for education to move up in the company. For example, in industries such as retail trade or transportation, workers without a college degree may work their way up to higher levels within the company to become executives or general managers.

Chief executives typically need extensive managerial experience. Executives are also expected to have experience in the organization’s area of specialty. Most general and operations managers hired from outside an organization need lower level supervisory or management experience in a related field.

Some general managers advance to higher level managerial or executive positions. Company training programs, executive development programs, and certification can often benefit managers or executives hoping to advance.

Important Qualities

Communication skills. Top executives must be able to communicate clearly and persuasively. They must effectively discuss issues and negotiate with others, direct subordinates, and explain their policies and decisions to those within and outside the organization.

Decisionmaking skills. Top executives need decisionmaking skills when setting policies and managing an organization. They must assess different options and choose the best course of action, often daily.

Leadership skills. Top executives must be able to lead an organization successfully by coordinating policies, people, and resources.

Management skills. Top executives must shape and direct the operations of an organization. For example, they must manage business plans, employees, and budgets.

Problem-solving skills. Top executives need to identify and resolve issues within an organization. They must be able to recognize shortcomings and effectively carry out solutions.

Time-management skills. Top executives do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals.

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Managing Partner Career Paths

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Help others decide if this is a good career for them

Average Length of Employment
President/Owner 7.9 years
Owner/Manager 6.7 years
Owner/Operator 6.4 years
Managing Owner 5.8 years
Business Owner 5.8 years
Co-Owner/Partner 5.7 years
Managing Partner 5.0 years
Franchise Owner 4.7 years
Operating Partner 4.7 years
Managing Director 4.5 years
Managing Member 4.0 years
Top Careers Before Managing Partner
Manager 7.8%
President 5.3%
Director 5.2%
Consultant 4.7%
Owner 4.4%
Partner 4.2%
Associate 2.9%
Internship 2.8%
Top Careers After Managing Partner
Owner 7.9%
Manager 7.1%
President 6.3%
Consultant 5.9%
Director 3.9%
Partner 3.8%
Principal 3.7%

Do you work as a Managing Partner?

Managing Partner Demographics

Gender

Male

76.1%

Female

21.2%

Unknown

2.6%
Ethnicity

White

61.3%

Hispanic or Latino

14.3%

Black or African American

11.9%

Asian

8.3%

Unknown

4.3%
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Foreign Languages Spoken

Spanish

44.2%

French

10.4%

German

6.4%

Chinese

5.4%

Italian

5.0%

Portuguese

4.6%

Mandarin

4.4%

Russian

4.1%

Carrier

3.7%

Japanese

1.9%

Arabic

1.9%

Cantonese

1.7%

Korean

1.5%

Greek

1.0%

Swedish

0.8%

Vietnamese

0.6%

Dutch

0.6%

Bengali

0.6%

Filipino

0.6%

Persian

0.6%
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Managing Partner Education

Schools

University of Phoenix

13.5%

University of Houston

5.9%

Georgia State University

5.9%

Michigan State University

5.8%

University of Southern California

5.6%

New York University

5.3%

Northeastern University

5.0%

University of Arizona

4.7%

Florida International University

4.5%

University of Florida

4.4%

Pennsylvania State University

4.4%

Cornell University

4.2%

University of Georgia

4.2%

University of Texas at Austin

4.1%

University of California - Los Angeles

3.8%

Southern Methodist University

3.8%

University of Pennsylvania

3.8%

Villanova University

3.7%

University of Nevada - Las Vegas

3.7%

University of Iowa

3.7%
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Majors

Business

34.2%

Law

9.2%

Finance

8.4%

Marketing

7.3%

Management

5.5%

Accounting

5.1%

Political Science

3.9%

Communication

3.6%

Psychology

2.9%

Economics

2.9%

Computer Science

2.7%

Education

2.1%

Hospitality Management

2.0%

Human Resources Management

1.5%

Criminal Justice

1.5%

Electrical Engineering

1.5%

Liberal Arts

1.4%

Legal Research And Advanced Professional Studies

1.4%

History

1.4%

English

1.4%
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Degrees

Bachelors

40.5%

Masters

23.0%

Other

20.2%

Doctorate

7.7%

Associate

4.8%

Certificate

3.0%

Diploma

0.5%

License

0.3%
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Real Managing Partner Salaries

Job Title Company Location Start Date Salary
Managing Partner 3G Capital, Inc. New York, NY Mar 20, 2011 $600,000
Managing Partner The Column Group, LLC San Francisco, CA Jan 01, 2010 $600,000
Managing Partner 3G Capital Inc. New York, NY Mar 20, 2012 $600,000
Managing Partner Funding Gates Corporation New York, NY Aug 21, 2009 $516,000
Management Partner Adrian Smith & Gordon Gill, LLP Chicago, IL Nov 01, 2009 $400,799
Management Partner Adrian Smith + Gordon Gill, LLP Chicago, IL Nov 01, 2009 $400,799
Managing Partner Prostar Capital (Us) LLC Greenwich, CT Jun 15, 2014 $300,000 -
$450,000
Managing Partner Formation8 Partners LLC Palo Alto, CA Jul 01, 2012 $300,000
Managing Partner GOPA It Consultants Inc. San Mateo, CA Aug 30, 2016 $300,000
Managing Partner Chiomenti Studio Legale, LLC New York, NY Jan 16, 2012 $300,000
Managing Partner Prostar Investments (Us) LLC Greenwich, CT Jun 15, 2014 $300,000 -
$450,000
Managing Partner Prostar Investments (Us) LLC Greenwich, CT Aug 01, 2012 $300,000 -
$450,000
Managing Partner Nutri Ventures (USA) Inc. New York, NY Sep 15, 2015 $243,600
Managing Partner Cosimo Venture Partners Inc. Beverly, MA Sep 10, 2015 $240,000
Partner, Lifecycle Management Rosetta Marketing Group, LLC New York, NY Jun 05, 2014 $240,000
Managing Partner/Head of Oil Brokerage LCM Commodities, LLC New York, NY Dec 12, 2016 $231,899
Managing Partner BCP Acquisition Corporation-Berlin Cameron New York, NY Jul 24, 2012 $225,000
Managing Partner BCP Acquisition Corporation New York, NY Sep 14, 2013 $225,000
Managing Partner Proactive Dealer Solutions LLC Huntersville, NC Jan 05, 2013 $180,000
Managing Partner Formation8 Partners LLC Palo Alto, CA Jul 01, 2015 $168,140 -
$300,000
Co-Managing Partner Farallon Capital Management, L.L.C. San Francisco, CA Jan 04, 2010 $167,440 -
$300,000
Managing Partner Proactive Dealer Solutions LLC Huntersville, NC Jan 05, 2013 $166,522 -
$180,588
Managing Partner Formation8 Partners LLC Palo Alto, CA Jul 01, 2012 $166,400 -
$300,000

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AVERAGE SALARY FOR A Managing Partner

Average Yearly Salary
$175,000
View Detailed Salary Report
$99,000
Min 10%
$175,000
Median 50%
$175,000
Median 50%
$175,000
Median 50%
$175,000
Median 50%
$175,000
Median 50%
$175,000
Median 50%
$175,000
Median 50%
$308,000
Max 90%
Best Paying Company
Google
Highest Paying City
New York, NY
Highest Paying State
New Jersey
Avg Experience Level
5.2 years
How much does a Managing Partner make at top companies?
The national average salary for a Managing Partner in the United States is $175,901 per year or $85 per hour. Those in the bottom 10 percent make under $100,000 a year, and the top 10 percent make over $309,000.

How Would You Rate The Salary Of a Managing Partner?

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Top Skills for A Managing Partner

  1. Business Development
  2. Financial Statements
  3. Customer Service
You can check out examples of real life uses of top skills on resumes here:
  • Remodeled start-up into fully functioning operation, guiding all business development, relations, and strategy as business matured.
  • Prepare monthly financial statements, and monitor daily operation activities.
  • Resolved customer service issues; initiated proactive customer satisfaction assessments/follow-ups.
  • Reviewed and made continuous improvement in sales strategies and operations ton ensure maximum customer satisfaction.
  • Recruited and trained over 200 agents to educate all sized employers in benefit communication, human resource management and payroll processing.

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Top 10 Best States for Managing Partners

  1. New York
  2. Delaware
  3. South Dakota
  4. Rhode Island
  5. District of Columbia
  6. Connecticut
  7. New Jersey
  8. Pennsylvania
  9. Illinois
  10. Nevada
  • (1,562 jobs)
  • (116 jobs)
  • (93 jobs)
  • (92 jobs)
  • (198 jobs)
  • (318 jobs)
  • (675 jobs)
  • (991 jobs)
  • (1,553 jobs)
  • (190 jobs)

Top Managing Partner Employers

Jobs From Top Managing Partner Employers

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