FSO Tax exit opportunities? Did you go to industry? If so at what level?

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Lube ur behind because this niche has so many workaholic lunatics that you'll be convinced half of New York runs on adderall and pees at their desk to save time. Leave at senior and dont look back. I've gotten plenty of decent offers at this level and plan to leave soon. Most offers have been in the tax depts of my clients

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I’m still with EY but have seen 90% of my friends exit to industry 😢 the most common is senior just by volume; that’s when you have enough experience to get to a good job in industry. The most lucrative is definitely at manager. They will get job offers much higher than an equivalent senior jumping out and working another 3 years.

Staff who leave fso tax generally don’t go into industry; usually are looking for completely different career paths. If u wanna work in this industry then stick it out to senior at the very least

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What exactly do you do in FSO tax?

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I work on a mix of hedge fund and private equity. The work and interests in both are quite different.

Hedge fund is fun for me because of security analysis. That means a lot of quantitative analysis of their trades and holdings, super specific tax technical items that takes years to really lock down. Also aggregate theory is really interesting to learn as well (the complex allocations process in open-ended funds).

Private equity is interesting because of the allocations related to Carry, which can get really complex as well.

Overall both types of work boil down to allocations of the partners and providing K1s to investors. I’ve oversimplified it by a lot and this might be 10% of what we do throughout the year, but gives u a good idea I think?

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Yeah I’m deciding whether to stick it out til manager. Lot of my friends are starting to leave as well, seems like all the good people leave and the shitty ones stay.

I’m not speaking towards NY office; I hear they are workaholic freaks as well. I’m in a west coast office and we actually have such a thing as work life balance, believe it or not

Very interesting! Thanks!

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