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The differences between partners and managing directors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a partner, becoming a managing director takes usually requires 4-6 years. Additionally, a managing director has an average salary of $129,690, which is higher than the $76,119 average annual salary of a partner.
The top three skills for a partner include patients, customer service and healthcare. The most important skills for a managing director are healthcare, portfolio, and business development.
| Partner | Managing Director | |
| Yearly salary | $76,119 | $129,690 |
| Hourly rate | $36.60 | $62.35 |
| Growth rate | 10% | 6% |
| Number of jobs | 45,758 | 81,022 |
| Job satisfaction | 1 | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 68% |
| Average age | 39 | 44 |
| Years of experience | 10 | 6 |
A business partner is responsible for providing strategies and recommendations on how the business will operate, increasing its revenues while sharing profits. Business partners must have extensive knowledge of how the current market industry works to identify the best decisions for the business. A business partner should also be engaged in suggesting new services and offers that the company might consider for its clients. Business partners must also keep the confidentiality of their partnering business administration at all times.
A Managing Director oversees workflow and progress, making sure that all operations align within the company or organization's mission or set of goals. They are responsible for crafting strategies, devising effective business plans, and executing guidelines that would nurture a company's growth, and as well as to be the driving force that would direct employees to the company's objectives. Furthermore, a Managing Director must coordinate with those in a higher position, such as the members of the board.
Partners and managing directors have different pay scales, as shown below.
| Partner | Managing Director | |
| Average salary | $76,119 | $129,690 |
| Salary range | Between $31,000 And $182,000 | Between $72,000 And $233,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Sidley Austin | Paul, Weiss, Rifkind, Wharton & Garrison |
| Best paying industry | - | Finance |
There are a few differences between a partner and a managing director in terms of educational background:
| Partner | Managing Director | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between partners' and managing directors' demographics:
| Partner | Managing Director | |
| Average age | 39 | 44 |
| Gender ratio | Male, 62.3% Female, 37.7% | Male, 73.5% Female, 26.5% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |