Have an offer to leave B4 to join a family business. 2 years before evaluation for partner and it’s a 5% equity stake no buy in required. Current value of ~$5M; goal is to be the co founders successor. Each founder makes about $10M a year; they want to build a family enterprise and I’m with the vision. My question: can I get close to that kind of money at EY? I’ve seen the companies financials, and ill be home every night but I’m curious what a B4 future looks like.

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I am not partner yet but that sounds like a fun adventure. Worth a shot building vs. selling consulting

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This.

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Take it. Just be careful, children's ability to get ahead of professional hires is well known. Put in a golden parachute if they don't act on their promises in a relatively reasonable timeframe if you have the ability to negotiate that.

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Fwiw I’m also being brought in at one level below the founder. It’s clear I’m expected to take the baton. Highest paid employee with expectation to build out my own team and help us scale revenue

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Depends on what the comp trajectory looks like at EY and how that compares to the model and assumptions for the family business opportunity

And a lot can change in 2 years

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If you’re open to a conversation would love to pick your brain

How is the family business valued at $5m when the founders/partners make $10m a year?

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I misread your post - that makes sense

Appreciate the advice everyone!! I’m going to trial a few weeks while I’m on leave but I really think I’m going to move along with it. New industry, ripe for opportunity (a lot of tech upside to improve business processes)

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All the best. EY or other consulting will still be there if it doesn’t work out

You can always build in "I stay if we agree to someone mutually...." Language

likesmart

Your parachute should say that you leave with X if they don't give you position Y in year Z. Something like this would protect you

smart

Ahh I see, in all honesty I don’t think they’ll go for that. We are baking out KPIs that I’ll have to meet to make my case for partner. However, the 5% equity being gifted is to me a huge windfall (or what feels like one).

Go for it while trying to protect with certain practical clauses as best as possible in your agreement - don’t think big 4 partner will ever come close to that level of earning potential - even though you may be putting potentially many more hours and not sleeping on your bed every night :)…upside seems way too good to let it go …consulting does not have the same edge anymore over industry on earning potential …

uplifting

GO FOR IT! Also please message me looking to leave my job and partner with someone if you have extra equity. Willing to pay as well my equity portion.

uplifting

Feel free to DM me, happy to share once I announce I’m taking the role. On leave currently so trying not to blow up my time away with my firstborn :)

For reference my family owns half the business. I’d be successor to my family members business partner

funny

Thanks! Learned a lot from this thread

lol Julie takes home about 5m. I would run away from ey and takes this role

helpful

That’s where I’m leaning. I’ve taken the offer already, waiting out my leave

So they want you to pay in $5M? And you are an M3 in big four currently?

I wouldn’t have to buy in for the first $5M (5%) of equity. The idea is that I’ll use earnings once I have equity to continue buying equity from the founders (we have to build up our share of retained earnings).

FYI major typo, two years before evaluation for SM lmao idk how I did that

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