Firm being acquired by PE-backed firm…
Expectations? Advice?

Currently a SM, and have been with the same firm for over 10 years. Always loved the firm, people, clients and work. Expected to make partner in the next few years, prior to this news.

I started looking into the PE backed firm model recently and there didn’t appear to be many positive comments.

A bit concerned as to how this may affect my career, goals, and life in general…

Merry Christmas!

like
Posting as :
works at
You are currently posting as works at

Condolences

like

Unless you’re a partner, you’re unlikely to make money on this transaction.

If you make partner while PE-held, you might make money at the next “bite of the apple”/point of sale in 5-7 years from now. You’ll probably get some Class B on a one-off basis for making Partner. For me it was 2x base with a 5 year vest and 2 year hold, so nothing to write home about. Ideally you’ll get Class B as part of your bonus each year - unlikely though. You may get the opportunity to invest your own money in Class A. You might make 3-5x on that if you’re in a high-growth firm, but it’s only worth it if you have cash sitting around to plough in.

If your PE is planning to hold you for a few years and sell you off to a larger firm, then it might be limited in terms of disruption to your work. But also risk that you could be in what they see as the wrong part of the firm. If your PE is planning on taking you public, it’s a world of pain, obsession over metrics and death by a thousand cuts.

TLDR; not a lot of upside unless you’re one of the founders/practice area of the firm.

like

The buying firm is going to look for synergies; streamlined back-end, BD/support etc. You’ll need to be in a revenue generating area of the firm. Being an SM might be an advantage because there may be a need for more expensive heads to roll, even if not duplicative.

So you may have a shorter run to the top, potentially.

But even once you make it, see my post #1…

For what it’s worth, most of the negative comments on fishbowl are baseless speculation. If you’re in partner track I’d say stick with it and decide later if you like the model. Better to earn the title where you are then start over elsewhere, unless you have a great opportunity that’s offering direct admission to partnership.

likefunny

Grab a jar of Vaseline and bend over

likefunny

What firm?

F

Related Posts

What cert to go for next? Currently have AWS-SAA and Security+. Thinking about CISSP but how difficult is it compared to the AWS-SAA?

likefunny

Just jumped from 60K —> 110K after 2 years of being very underpaid although being considered a “top performer”.

If you’re on the fence about jumping to another firm or starting to look elsewhere, realize that loyalty is often only skin deep in consulting. Prioritize your career goals, whether they be financial otherwise. Praise and appreciation are nice, but don’t let ANYONE make you feel bad about choices you make for your happiness.

likeupliftingsmarthelpful

Any thoughts on threat intelligence certs? Which ones are most worth the effort?

like

How long were you an SAE before promoting to AS?

like

I am A2 in PwC AC Bangalore in Management consulting - I want to shift to US office due to some reasons. Can anyone please elaborate the intercompany transfer / internal rotation process? Like where to apply? what are the requirements?

likefunny

Your favorite resources for learning just enough UX?

My baseline is a data scientist background: stats, data visualization, storytelling with decks

like

Hello Fishes,
What kind of role does a Deputy Manager in the risk consulting service line perform. I am currently a senior consultant at EY India is it a similar kind of role?

Hi fishes,

I hope you are having a great day!

I wanted your inputs on Upgrad PM course from Duke University.
Is it worth it?
Any idea on job placements and value of the certification.
Do we need to get PMP certification or is this enough.

Please help me out.

TIA

Anyone moved from consulting to an internal role? How did you find it. I’m fed up of consulting

like

Have final round interviews at BCG tomorrow. I'm at S& right now at the SA level. Father had a sudden health issue come up this week and it's got me off my game. I'll ultimately need to support him financially for at least a year while he recovers. Not complaining, but has me considering just dropping out of the interview process. Is that crazy? Is the opportunity with BCG really so far beyond what I have already with S&? Is dropping a better look than interviewing and doing terribly?

like

Big 4 alum - was looking at SAP on Aws opportunity in AWS - do I need to do AWS cert to qualify ? Also, for program manager do I need a specific certificate too? Have 10 yrs of sol arch exp in data and analytics as well as PN experience in Big 4.. please help

like

Anyone work in nonprofit tax? What exit opportunities are available with 3-6 years experience? Hoping to be promoted to senior this year and curious what options exist with this specialized skill set.

like

Is getting into crypto law a bad idea or is it a burgeoning field??

likehelpful

Can I start learning DSA using JavaScript to get into product based company from service based ? Or I need to learn other language first like C or Java and then learn DSA in that ? I am working as a Frontend developer so I already have knowledge of JS. Please suggest how to proceed ?

like

I am having 2 years of experience as windows and VMware admin. currently serving the notice period.
Can someone suggest what all the companies to look for job opportunities for better growth

like

I am currently an HR professinal of 3 years with past background as a teacher/advisor in higher ed. I am aiming to pivot to a more L&D, training specialist type role in order to leverage the skills obtained in both areas. It would be the perfect career for me. Any openings or hiring at your company? I am not super concerned about the title as long as there is room for growth and I can pay for my 3 kids' daycare tuitions. ;)

like

Did you guys choose to join law enforcement or did you just kind of end up here?

like

Aside from just time and experience, is there anything I can actively do to advance in my career and get more responsibility / client interaction? I’m a first year

like

Is TAG to M&A Tax a typical/feasible exit opp after experience?

likefunny

Anyone coming from tax tech transition over successfully to data analyst/science? How'd you do it?

like

More Posts

Should I take more initiative? It’s my stub year and I’m getting worried. My hours have been super low the past two months, I’m talking like maybe billing 3-4 hours a day and billing no hours on multiple days. I ask for work but the tasks I get don’t require a lot of time. Should I be reaching out more?

like

I'm about to join EY GDS SAT team as SBA - Strategy. Not from a big 4 background but from business research background.

What type of work can I expect day in day out, culture and most important the tools I'll be working upon. As in my current role we don't have exposure to tools a lot.

Any important skills one should have to excel in this role,
In my current organization there is a mandatory training culture with respect to role one is hired for. Does EY has something Similar?

Thanks!

like

11 likes for DM please

like

R.I.P. Takeoff, such a shame to lose a great artist to senseless gun violence. So young too…

like

What is Citis C12 equivalence in TD? ( I am in Citi Canada and have offer of L10 at TD Canada)

likehelpful

Any Amex employee here with an Amex card? Could you guide me on the process and eligibility of cards and what benefit do we get as employees?

like

What is the pay range for supervising associate?
Yoe 9.5

like

My company reimburses CFA exam fees if I clear level the exam and if I stay in the firm for 2yrs from reimbursement date. I don’t wish to be here for 2yrs. . Can i still apply for CFA scholarship?

like

Any ID attorneys get their CPCU? Trying to make myself more marketable as claims counsel or in-house for a carrier (not doing ID).

like

Any Chinese/East Asians here?

like

How to track my BGV in Natwest. I have submitted all the documents. How to check my current status? I received link from First Advantage. I have submitted documents.

like

Hi fishies! Are there any recruiters from Facebook (Meta) who would be kind enough to review my resume and give me some feedback? From my perspective I’m a candidate for some of the roles I’ve recently applied for and also have experience as a contingent worker there and would like some honest feedback so I can reassess and reapply. Thanks so much in advance!

like

What is the comparision between Infosys band 6B and Band 8 of IBM? Any pointers please!

like

Anyone at EY PARTHENON in Dubai or Saudi willing to have a quick chat? Would be great to get some info / connect with people there.

Thanks in advance

(Can’t tag them for some reason)
EY
@eyparthenon

like

I have an interview for an AR Specialist position wish me luck Fishbowl Family!!! And any pointers would be accepted.

like

Which company is better to join as BigData Devloper\ Data Engineer?

Persistent - 25 LPA fixed
Deutsche Bank - 25 LPA fixed

YOE- 6.5
@persistent@Deutsche Bank

like

Curious what in-house lawyers are doing for pro bono (Model Rules recommend 50 hrs/yr). Feels harder in-house because organizations like Legal Aid seem to pair with firms or expect you to be practicing with a firm.

like

Hi Fishes
Is there any vacancy for Company Secretary professionals in any company for 3+ years of experience.

Any lead would be helpful.

Thanks in Advance

like

How hard/easy would it be to find a decent big law position after 3 years of SEC experience? Total 5 years atty experience. What will be the salary like?

like
like

Additional Posts in Partner One

Partners, what are signs/examples that a project’s leadership is prioritizing the clients needs over the team beyond the normal ‘nature of client service’? Is a convo is worth it?

like

PwC Anyone went through a direct admit Partner process? I am being approached and have some questions (process, timeline, interviews experience, compensation etc.) Thank you!

like

Does the concept of local and high value role exist is Deloitte, Accenture or PWC?... been consulting for 13 yrs

How early in someone’s career do you generally identify if a homegrown person is partner material or not? M and up or earlier?

like

PPMDs, if an employee comes to you and ask for support to join a different group within the firm and the employees ends up not getting the other role, do you typically treat them differently after (e.g., not staffing them on as many deals) / would you hold them back from promotion the following year?

like

D 🐠, what was your take home in first year as principal? I assume you all get roughly 350 units and have to finance your buy in. What does that leave for your monthly draw? And after your insurance?

like

What was the first thing you did once you become partner? I am assuming heavy pressure on selling more than what you were selling before?

like

@Partners - how much money do you need to invest I to the firm to get your partner share?

likefunny

Tips to build my brand and network as a junior practitioner navigates their career to the next level at the firm?

like

What has been more beneficial to your career and why: specializing in a service offering or an industry?

like

For the Partners and really anyone in a leadership position: how do you motivate your people to take initiative? i.e. inferring next steps and taking action without waiting to be explicitly told to

like

Partners with kids and a working spouse, how do you manage? Is it realistic for both people in the relationship to work full time long term? How do you keep marriage going and career progressing?

likesmart

Negotiating an offer with MBB. How should I negotiate for unvested RSUs? I have about $400K with a vesting schedule over the next 3.5 years. Thank you!

like

Big4 Advisory Partners/Principals - how much do you make in your 1st - 4th year as a partner/principal?
Trying to make a decision whether its worth continuing.

likehelpful

Partners: where do your clients come from? Do you spend more time acquiring new clients or using your network from past projects/peers?

like

Dear Partners-
Have any of you switched firms to make P? Worth it? Tips? Have always planned to make at my firm, but my firm isn’t keeping up their end of the deal, so I’m job hunting....

like

Do partners know each other’s compensation? I see partners selling engagements for vastly different numbers b/w shorter ‘interesting’ strategy work and longer ‘boring’ transformations. Thoughts?

like

How is a Partner’s sales bonus at your firm calculated? Also, what if multiple Partners have connections at the same client when a sale is made? How is the bonus fairly distributed?

like

/x-post from the Consulting Bowl/

Hello, Partners. Can anyone recommend fantastic courses, videos or training for a new manager like myself? I’ve come from a tech background and looking to be C-Suite

Just heard FY23 partners at PwC are getting only 40 shares vs.60 last year. Looks like new partners are being shown the middle finger by Tim Ryan in favor of increasing stock price and getting more catalyst hires. Sucks!!

likefunnyhelpful

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal