What does a managing partner do?
The primary role of managing partners is to manage a company's day-to-day operations and provide overall strategic and administrative decisions. They have to maintain positive client relations and consult and collaborate with other employees, executives, and board members. They are also responsible for overseeing recruitment activities, determining improvement gaps, and administering corrective measures. To be qualified for this position, one should have a degree in business administration or a related field, excellent leadership and communication skills, and a healthy analytical and strategic mindset.
Managing partner responsibilities
Here are examples of responsibilities from real managing partner resumes:
- Manage website, eBay, and Facebook marketing, as well as vendor relations and cross-marketing with vendors.
- Manage daily operations, including office administration, accounts-payable, accounts-receivable, and payroll processing.
- Develop and implement marketing campaigns, and manage a variety self-contain EMR systems for numerous private practice healthcare providers.
- Provide oversight to ensure projects and programs within various portfolios are in compliance with establish standards to achieve business transformation objectives.
- Perform all business development, sales, marketing, basic web design and SEO; administrative operations and actual event performance.
- Create and develop internet presence via website and FaceBook.
- Learn and apply efficient techniques for creating reports and data extracts against large data sets using SQL.
- Used more complex and effective SQL queries to save time in data analysis and increase overall performance.
- Prepare financial budgets and maintain separate business accounts using QuickBooks software.
- Founder of boutique sports marketing agency specializing in corporate consulting and activation services.
- Perform required business functions for LLC compliance in support of family-own medical device consulting.
- Launch an advertising campaign utilizing aggressive SEO marketing strategies and implement a project plan.
- Enhance market position by negotiating major supply agreements with several OEM heavy-duty vehicle manufacturers.
- Assist customers in making inform decisions regarding the quality and economical solutions of their HVAC equipment.
- Direct all administrative elements, including office management, policy and procedure development, payroll, and accounting.
Managing partner skills and personality traits
We calculated that 20% of Managing Partners are proficient in Food Handling, Cleanliness, and Customer Service. They’re also known for soft skills such as Leadership skills, Management skills, and Problem-solving skills.
We break down the percentage of Managing Partners that have these skills listed on their resume here:
- Food Handling, 20%
Ensured overall food quality, food handling, safety, security, service and cleanliness standards were met.
- Cleanliness, 18%
Maintained exceptionally high standards of cleanliness resulting in Eco-sure scores of 98 and Health Inspection scores of 100.
- Customer Service, 9%
Oversee all administrative operations related to customer service oriented business specializing in concierge, errand services, and event planning services.
- Financial Statements, 5%
Generated financial statements, budgeting and cash-flow monitoring, creation and maintenance of annual operating budgets and financial modeling.
- Regulatory Compliance, 4%
Negotiated multiple business acquisitions, license attainment, and regulatory compliance.
- POS, 4%
Executed change management and developed POS training procedures for yoga apparel retailer.
Most managing partners use their skills in "food handling," "cleanliness," and "customer service" to do their jobs. You can find more detail on essential managing partner responsibilities here:
Leadership skills. One of the key soft skills for a managing partner to have is leadership skills. You can see how this relates to what managing partners do because "top executives must be able to shape and direct an organization by coordinating policies, people, and resources." Additionally, a managing partner resume shows how managing partners use leadership skills: "identified and presented future roi opportunity options to board members, executive leadership, stakeholders, physicians and nursing staffs. "
Problem-solving skills. managing partners are also known for problem-solving skills, which are critical to their duties. You can see how this skill relates to managing partner responsibilities, because "top executives need to identify and resolve issues within an organization." A managing partner resume example shows how problem-solving skills is used in the workplace: "maintained positive customer relationships by regular visits with customers, quality assurance monitoring, and prompt problem-solving. "
Time-management skills. For certain managing partner responsibilities to be completed, the job requires competence in "time-management skills." The day-to-day duties of a managing partner rely on this skill, as "top executives do many tasks concurrently to ensure that their work gets done and that the organization meets its goals." For example, this snippet was taken directly from a resume about how this skill applies to what managing partners do: "worked in conjunction with a real estate broker to meet escrow deadlines. "
Communication skills. Another crucial skill for a managing partner to carry out their responsibilities is "communication skills." A big part of what managing partners relies on this skill, since "top executives must be able to convey information clearly and persuasively." How this skill relates to managing partner duties can be seen in an example from a managing partner resume snippet: "build and maintain strong client relationships along with daily communication with carriers and partners. "
The three companies that hire the most managing partners are:
- Texas Roadhouse65 managing partners jobs
- Verizon Communications40 managing partners jobs
- Bloomin' Brands24 managing partners jobs
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Compare different managing partners
Managing partner vs. President/chief executive officer
Considered as the highest authority in a company, a president/chief executive officer is in charge of leading the company by implementing corporate decisions and shaping the organization to its fullest extent. They must craft strategic plans and guidelines, enforce policies and standards, direct the vision and mission, and address the public as the head of the company. Furthermore, a president/chief executive officer must maintain an active line of communication at all times as they must report to a board of directors and coordinate with other company employees.
These skill sets are where the common ground ends though. The responsibilities of a managing partner are more likely to require skills like "food handling," "cleanliness," "customer service," and "pos." On the other hand, a job as a president/chief executive officer requires skills like "start-up," "oversight," "product line," and "strategic direction." As you can see, what employees do in each career varies considerably.
President/chief executive officers earn the highest salaries when working in the finance industry, with an average yearly salary of $179,795. On the other hand, managing partners are paid more in the construction industry with an average salary of $139,771.president/chief executive officers tend to reach higher levels of education than managing partners. In fact, president/chief executive officers are 5.3% more likely to graduate with a Master's Degree and 2.2% less likely to have a Doctoral Degree.Managing partner vs. Executive vice president
An executive vice president is responsible for monitoring departmental operations, managing customer relationships, developing the company's strategic goals, and identifying business opportunities that would maximize the company's performance, drive revenues, and achieve the business's profitability goals. Executive vice presidents contribute to sales innovations, negotiate business contracts, analyze financial reports, and minimize the company's expenses without compromising high-quality operations and customer satisfaction. An executive vice president must have excellent leadership and communication skills to support its daily operations to achieve its long-term goals and objectives.
Each career also uses different skills, according to real managing partner resumes. While managing partner responsibilities can utilize skills like "food handling," "cleanliness," "customer service," and "pos," executive vice presidents use skills like "oversight," "evp," "loan portfolio," and "strategic direction."
Executive vice presidents may earn a higher salary than managing partners, but executive vice presidents earn the most pay in the telecommunication industry with an average salary of $198,405. On the other hand, managing partners receive higher pay in the construction industry, where they earn an average salary of $139,771.Average education levels between the two professions vary. Executive vice presidents tend to reach similar levels of education than managing partners. In fact, they're 4.0% more likely to graduate with a Master's Degree and 2.2% less likely to earn a Doctoral Degree.Managing partner vs. Chief executive officer
A chief executive officer is the overall head of the company's operations. Chief executive officers are responsible for making corporate decisions that would define the company's performance in the market. A chief executive officer must display exceptional leadership and decision-making skills to create business growth and development strategies. The chief executive officers also provide a regular business update to the board regarding the company's status. They should also be able to identify business opportunities and create long-lasting, professional relationships with business partners and other organizations.
The required skills of the two careers differ considerably. For example, managing partners are more likely to have skills like "food handling," "cleanliness," "pos," and "business strategy." But a chief executive officer is more likely to have skills like "patients," "patient care," "oversight," and "healthcare administration."
Chief executive officers earn the best pay in the start-up industry, where they command an average salary of $183,901. Managing partners earn the highest pay from the construction industry, with an average salary of $139,771.When it comes to education, chief executive officers tend to earn higher degree levels compared to managing partners. In fact, they're 5.4% more likely to earn a Master's Degree, and 2.1% more likely to graduate with a Doctoral Degree.Managing partner vs. Vice president & general manager
A vice president and general manager's role is to implement policies and regulations while overseeing the business operations. Typically, it is their primary responsibility to devise training programs that would produce more efficient workforce members, create new strategies to boost sales and customer satisfaction, and participate in budget and goals creation. They mainly report to high-ranking officials such as the president and board members. Furthermore, a vice president and general manager may perform clerical tasks such as preparing progress reports and presentations, managing schedules, and responding to correspondence.
Even though a few skill sets overlap between managing partners and vice president & general managers, there are some differences that are important to note. For one, a managing partner might have more use for skills like "food handling," "cleanliness," "financial statements," and "regulatory compliance." Meanwhile, some responsibilities of vice president & general managers require skills like "financial performance," "project management," "product line," and "direct reports. "
The media industry tends to pay the highest salaries for vice president & general managers, with average annual pay of $172,642. Comparatively, the highest managing partner annual salary comes from the construction industry.vice president & general managers reach similar levels of education compared to managing partners, in general. The difference is that they're 4.7% more likely to earn a Master's Degree, and 4.6% less likely to graduate with a Doctoral Degree.Types of managing partner
Updated January 8, 2025
