In the risk consulting area specifically, the partners have so little actual subject matter expertise that it is embarrassing. There are a couple of exceptions to this; however, it seems like now the younger guys (and I say "guys" because they are almost all men) that get to partner are the ones who can manage to get other people to do their work and then take all the credit for it as if they had done it. I find it so embarrassing that so many of the partners work within the banking space and call themselves subject matter experts and yet cannot even explain some of the most rudimentary banking concepts. Instead, they just find one or two people who actually do know what they are doing and then pull them into calls to explain everything to a client, regulator, etc. All the while, the partners takes all the credit for everything. This creates situations where the few people who actually are deep subject matter experts are working 70-80 hours a week just to keep up while the partners pat themselves on the back for being so great and for giving all their employees so much "opportunity" to work themselves to death.
Beyond all that, the partners (again, risk consulting specifically) are so solely focused on sales that they over-commit to clients and the firm inevitably does not have adequate resources to meet the clients' needs/expectations. This means that the few resources that they have are spread so thin that no client gets good value for their money. It makes for a very frustrating experience for an employee who is trying to deliver quality work to a client, but is not given the resources to do so.
